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| Plug Power expects positive effect tax credit extension Plug Power Inc. (Nasdaq:PLUG), a provider of clean, reliable on-site energy, highlights passage of the eight-year extension of the Investment Tax Credit for stationary, motive and portable fuel cell purchases. Signed into law by President Bush late Friday afternoon, this tax credit will offer a significant financial benefit for both commercial and residential fuel cell purchases placed in service through 2016. The federal tax credit extension, with an effective date of January 1, 2009, has the potential to stimulate fuel cell product sales, create green technology jobs and reduce greenhouse gas emissions across the board. The new law extends the 30% tax credit on the total system cost for both business and residential fuel cell customers and it increases the cap for businesses to $3,000.00 per kilowatt; residential cap will remain at $1,000.00 per kilowatt. write your comments about the article :: © 2008 Construction News :: home page |