Solar Industry Applauds Democratic Energy Bill
By providing long-term, steady federal tax and energy policy, this legislation provides the stability that businesses in the solar industry need to grow adding tens of thousands of new, well-paying solar jobs across the country, which today includes more than 174,000 Americans, said SEIA President and CEO Rhone Resch. "We also applaud the inclusion of programs that remove barriers for low-income Americans, making it easier for everyone to access clean, affordable, reliable solar energy."
If approved and signed into law, this comprehensive legislation would temporarily extend the federal solar investment tax credit (ITC), and then ease the transition afterward through the creation of long-term, technology-neutral clean energy tax incentives.
According to Senate Finance Committee staff, this legislation would save Americans at least $20 billion over the next 15 years and create/support at least 3.5 million jobs.
We are delighted to see Members of Congress listening to their constituents, recognizing how crucial it is for America to maintain policies that are effective at creating jobs and producing clean, domestic energy, Resch said. The United States deserves to be a world leader in cutting-edge technologies, and providing a long-term extension of the ITC will encourage massive investment in the U.S. solar industry. When you provide certainty to solar consumers and businesses with an energy tax code that promotes innovation and encourages the development of new and efficient technologies America wins. We see this bill as a major step forward, and the solar industry looks forward to working with Congress so all solar technologies are included.
An analysis released earlier this month revealed the U.S. would lose more than 80,000 solar jobs during 2017 alone without an ITC extension. In addition, factoring in jobs losses in related industries, the analysis shows a total loss of more than 100,000 American jobs from failure to extend the ITC.