DayStar Supports Solar Provision in US Energy Bill
August 9, 2005
DayStar Technologies Inc. (Halfmoon, NY), a developer of photovoltaic (PV) products, praised a recently passed US energy bill for providing a 30-percent tax credit for business or residential purchases of PV equipment. The new incentive directly impacts DayStar's TerraFoil™ solar cells, which are designed for use in a wide range of products, including traditional flat-plate power modules to provide electricity for residential and commercial structures. The bill provides 30 percent credit for qualifying residential purchases up to $31 million, and the same credit for business purchases up to $222 million.
"Government support in the form of solar investment tax credits, and
other financial instruments in Europe and Asia, have successfully
led to strong industry growth and, in the case of Japan, a
self-sustaining solar energy market as subsidy programs are phased
out," said DayStar Chairman and CEO John Tuttle. "Clearly, these tax
credits work to create self-supporting markets and DayStar looks
forward to helping the US energy market reach that point."
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