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Published on: 7/24/2008
Last Visited: 7/25/2008
The booming solar market draws comparisons to the early 1980s, when the demand for solar power was strong, even though it ultimately plummeted, according to Roy Heine, founder and chief executive officer of SunTrek Industries Inc. in Irvine, a manufacturer, equipment integrator and licensed solar contractor.
"The tax credits and rebates went away around 1983 and when they did, the industry got wiped out," he said."The 30% federal tax credit is set to end Dec. 31 and our Senate has not approved its extension several times this year."
"The oil states and senators that represent them are causing the extension not to fly," he said.
"My crystal ball tells me that there's a 25% chance that at the last minute, sometime in December, they will pass a one-year extension on the 30% federal tax credit," Heine said.