Energy: Decreased Tax Credit Discourages Solar Energy Developers

According to the New York Times, many solar energy investors are discouraged to invest in the United States because of a tax credit cut from 30 percent down to 10 percent that will take effect in 2016.

One example is the Spanish firm Abengoa’s plant in the Arizona Mojave desert, which has been operating for a little over a year, producing energy even when the sun goes down. But despite an operation deemed as a success by both the utility companies and residents, the firm is reluctant to expand in the States, looking to do other products in China or Israel instead.

Read more on The New York Times.