State lawmakers want to encourage more investment in solar energy with a bill that increases the tax credit for solar projects.
Currently the state’s solar tax credit is capped at $2.5 million a year running through 2012. But all that money has been spoken for, says Jason Rooks, a lobbyist for the Georgia Solar Energy Association.
The bill increases the cap to $5 million for next year and extends the credit to 2014.
"It was critically important this year to provide more certainty to investors to know there would be money there," says Rooks. "Now you may not get the 2012 allotment you may get 2013 allotment, but we put $12.5 million to go towards these types of investments."
Under the program, individuals can receive up to about $10,000 for a project, and businesses can receive up to a half a million dollar credit.
Governor Nathan Deal hasn't said if he'll sign the measure.