Schumer calls for enhanced solar power tax credits

U.S. Sen. Charles Schumer says the federal government needs to do a better job of encouraging solar power projects.

The New York Democrat visited a large solar panel manufacturing facility under construction in Buffalo on Wednesday to announce a proposal to create a new type of tax credit for investments in solar technology. Currently, businesses can receive tax credits only when solar panels are placed in service.

Schumer's idea would provide a credit to companies when they begin a new solar project. He says it's similar to a tax credit already in place for wind energy developers.

Schumer says his proposal would encourage more solar power and potentially make it cheaper for customers to purchase solar panels.