CGE Energy Commends Congress’ Bipartisan Solar and Wind Investment Tax Credit Extensions
December 16 2015 - 3:06PM
InvestorsHub NewsWire
Brighton, MI -- December 16,
2015 -- InvestorsHub NewsWire -- CGE Energy
(OTCPink:CGEI), the leading engineer of no capital cost
energy solutions, commends Congress for its proposed bipartisan agreement that extends the Investment
Tax Credit (ITC) for U.S. renewable energy projects. The ITC was
set to expire at the end of 2016.
Tuesday
night, as part of a larger budget deal, Congress voted on
legislation for a 5-year extension of the ITC that gives a 30%
federal tax credit for commercial installations of solar PV systems
and an extension with a progressional phase down of the tax credit
for small wind systems.
Utilizing their proprietary business models,
CGE Energy has made energy projects possible for commercial and
non-profit facilities, without having to rely on government
stimulus. “We have made an important focus on not being dependent
on the Investment Tax Credit on our project development, especially
considering the uncertain future of the credit,” said CGE Energy’s
President and CEO Bryan Zaplitny. “Seeing these latest legislative
decisions, the utilization of the ITC where appropriate will
increase the benefits we can give our customers as well as expedite
our growth and stockholder appreciation.”
With
the ITC's deadline up in the air, large rooftop solar companies
like SolarCity (Nasdaq:SCTY) were forced to slow
growth after years of manipulating the ITC.
CGE
Energy is also in the midst of bringing to market their own
patented vertical axis small wind turbine, called WIND•e20®. The 105-foot tall turbine is
being manufacturing by Burtek Enterprises, Inc. a well-recognized
market leader in safety critical applications. Zaplitny stated,
“With increased economics, the ITC extension also allows our
WIND•e20® turbine to serve an unlimited amount of people around the
world.”
While
solar gets most of the attention, small wind innovations play into
a more comprehensive and diverse solution for the U.S. economy to
exhibit lower carbon use and increase job growth. Experts say that
the tax credit extension will stimulate more than $125 billion in
new investments for the U.S. economy.
"Future
focused leaders in both Houses have now shown their support for
boosting our economy and create thousands of jobs across America
while reestablishing the U.S. as the global leader in clean
energy,” concluded Zaplitny.
Media Contact: Paul
Schneider 248-446-1344, pschneider@cgeenergy.com
About CGE
Energy
CGE
Energy (OTCPink:CGEI) is the leading engineer of no capital cost
energy solutions. Headquartered in Brighton, Michigan, the company
integrates the optimal configuration of renewable energy and energy
efficiency technologies to meet their customers unique energy
needs. Today the company serves customers in the U.S. and abroad,
using energy technologies that include Cree® LED lighting, their patented
WIND•e20® wind turbine and
SolarWorld® solar generation. http://www.cgeenergy.com
This press release may contain forward-looking
statements including statements regarding our expectations,
beliefs, intentions or future strategies that are signified by the
words “expects,” “anticipates,” “intends,” “believes” or similar
language. These forward-looking statements involve risks,
uncertainties and other factors. All forward-looking statements
included in this press release are based on information available
to us on the date hereof and speak only as of the date hereof. We
undertake no obligation to update or revise publicly any
forward-looking statements, whether as a result of new information,
future events, or otherwise. Actual results may differ materially
from those projected in the forward-looking
statements.
CGE Energy (CE) (USOTC:CGEI)
Historical Stock Chart
From Aug 2024 to Sep 2024
CGE Energy (CE) (USOTC:CGEI)
Historical Stock Chart
From Sep 2023 to Sep 2024