Earlier this week, it seemed the tax measure passed by the U.S. House of Representatives may jeopardize the fate of renewable energy tax breaks. But today, after a second attempt, the House voted 263-171 in favor of a $700 billion bailout bill, which includes the extension of renewable energy tax credits, Wall Street Journal reports.
According to Green Chip Stocks, the bailout package will include a one-year extension of the production tax credit for wind; an eight-year extension of the investment tax credit for solar; and a removal of $2,000 cap for residential solar installation.
The Senate included the extension of renewable energy tax credits into the bailout package on Wednesday, which gave a small jolt to solar tech stocks, according to CNNMoney.com.
