Apr 3 2008
Fred Maas, President + CEO of Black Mountain Ranch LLC and developer of Del Sur, an 1,800-acre "green" residential community in San Diego, Calif., today praised Senators Maria Cantwell (D-WA), John Ensign (R-NV) and Dianne Feinstein (D-CA) for introducing the "Clean Energy Stimulus Act." The Act extends expiring tax credits for renewable energy and energy efficiency.
Del Sur is a leading user of solar electric power and requires, as part of its comprehensive approach to green development, that 20 percent of the community's 2,500 homes be equipped with solar photovoltaic systems to generate pollution-free electricity.
"The solar production tax credit has been critical to lowering the cost of solar power installations for our homeowners," said Maas. "The improved solar credit in the 'Clean Energy Stimulus' bill will expand the residential use of solar power in the United States. That's good for the environment and good for reducing America's dependence on foreign oil."
The "Clean Energy Stimulus Act" extends the solar production tax credit for homeowners who install solar systems for an additional year, eliminates the current $2,000 cap on the credit and allows the credit to offset any Alternative Minimum Tax liability.
"The solar tax credit would be even more effective if homeowners and homebuyers could count on it for the future," added Maas. "Extending the tax credit for several years, rather than for one year, would stimulate more widespread residential use of solar power, and lead to greater environmental and economic benefits."
Del Sur's solar provider, SunPower Corp., estimates that Del Sur homeowners using solar electric power will:
- Save 35,000 barrels of oil per year; and
- Eliminate 410 tons of greenhouse gas emissions annually - about the same as planting nearly 40,000 trees or not driving 21 million miles.