SolarCity Corp Urges Swift Passage Of ITC Extension Legislation

SolarCity has urged Congress to swiftly pass tax bills introduced by House Speaker Paul Ryan facilitating the extension of the Investment Tax Credit (ITC) for solar. The renewable energy seller’s share price surged by over 25% to $50.19 in early morning trading on Wednesday. SolarCity pushes for ITC extension After weeks-long bipartisan negotiations between Senate and House leaders, House Speaker Ryan introduced on Wednesday legislation that included sweeping appropriations and tax bills. SolarCity urged Congress to swiftly pass the comprehensive legislation which includes an extension of the ITC for solar. The ITC, which was set to expire at the end of 2016, is a 30%…