Despite the extension of solar investment tax credit by eight years, solar developers are admittedly finding it tough to get going.

According to San Francisco Business Times, the tax credit glow is dimming as solar developers struggle to find takers for their tax credits — a key piece of financing for their projects — and debt financing is either unavailable or too expensive for many developers.

"We have serious issues getting debt," said Fred Morse, who advises Abengoa Solar on its US applications for solar projects, said. "The banks right now do not have any and what will be available in the near future will come at a higher price."

"We are in touch with banks and investors, and when we're a bit further into the permitting process we'll move ahead," Morse had said in another interview. "Banks aren't fully in a lending mode right now."

In fact, when Abengoa Solar recently received a Certificate of Environmental Compatibility from the Arizona Corporation Commission (ACC), its CEO Santiago Seage had said: "Nevertheless, we still have lots of work ahead of us."

Efforts to make the investment tax credit refundable and the current rate case APS is going through are both important for Solana, he said.

Recently, in an interview with CSPToday.com, SEIA spokesperson had said, "Certainly the environment with a stable tax policy now in place makes these investments more attractive."

"While we are monitoring the economic crisis and credit remains tight, we are optimistic that the eight-year extension gives companies the ability to move forward with their growth and expansion plans," SEIA spokesperson had said.