DayStar Supports Solar Provision in US Energy Bill

August 07, 2005 by Jeff Shepard

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."