Murphy Tours New Solar Energy Store in New Milford, Pushes for Extension of Solar Tax Credits

Press Release

Today, Congressman Chris Murphy (CT-5) toured Four Winds Solar Store in New Milford, a new business in the greater Danbury area designed to help homeowners and businesses find renewable alternatives to fossil fuels, like solar energy.

"Its small businesses like Four Winds Solar Store that brings a new, cost effective way of thinking to the doorsteps of homes and businesses in our area. We have to start investing in new technologies to offset high home heating costs, and no other option makes as much sense as tapping into the power of the sun," said Murphy.

Four Winds Solar Store in New Milford sells energy efficient appliances and lighting, solar water heaters, solar panels, wind generators, batteries, and other items. They also perform surveys and installations for customers.

With the price of home heating oil over $4.00 a gallon, many households in New England will be paying upwards of $4,000 to heat their homes this winter. Murphy is pushing for Congress to extend tax credits that are set to expire at the end of the year for families and businesses who invest in solar energy.

For example, the residential Investment Tax Credit (ITC) for solar investment provides a 30% credit capped at $2000 for individuals, while the business ITC provides a 30% credit. The investment ITC expires at the end of 2008, while the business ITC reverts to only 10% at the year's end.

In May, Murphy supported H.R. 6049, the Renewable Energy and Job Creation Act, which would extend the Business Solar Tax Credit for 6 years and extend the Residential Solar Tax Credit for 6 years. The legislation also extended the Residential Energy Efficiency Tax Credit, which provides a 10% credit toward the cost of building improvements (insulation, windows, etc.) for two years and a 100% credit for qualified energy efficient appliances for three years.

Murphy is also leading an effort seek up to $9 billion in Low-Income Home Energy Assistance Program (LIHEAP) funding.

Source