Finance & Tax
The availability of low-cost financing for solar energy projects is a critical issue for the industry. SEIA monitors regulations and legislation that affect the markets for solar financing, and supports a number of specific programs that facilitate solar development. The U.S. also has a long history of supporting energy infrastructure through the U.S. tax code, and the market certainty provided by the long-term solar investment tax credit (ITC) has supported hundreds of thousands of U.S. jobs.
Solar Investment Tax Credit
The solar Investment Tax Credit (ITC) is one of the most important federal policy mechanisms to support the growth of solar energy in the United States. Since the ITC was enacted in 2006, the U.S. solar industry has grown by more than 10,000%. In 2015, SEIA successfully advocated for a multi-year extension of the credit, which has provided critical stability for businesses and investors.
Help #DefendTheITC
SEIA is leading a nationwide effort to extend the solar Investment Tax Credit (ITC), one of the most successful clean energy policies in history.Quick Facts about the ITC
- The ITC is a 30 percent tax credit for solar systems on residential (under Section 25D) and commercial (under Section 48) properties.
- The residential and commercial solar ITC has helped the U.S. solar industry grow by more than 10,000% percent since it was implemented in 2006, with an average annual growth of 50% over the last decade alone.
- Congress passed a multi-year extension of the ITC in 2015.
Finance Programs
SEIA has a variety of initiatives on financing designed to facilitate industry coordination and promote outreach to current and potential stakeholders. Our goal is to improve comprehension, ease financing complexity, and spur capital formation and project development.
About SEIA's Finance Work
SEIA convenes several committees and working groups to conduct research, develop educational materials, and organize the various facets of the solar energy finance industry. SEIA also organizes conferences, webinars and other forums for stakeholder engagement and industry participation. In January 2017, SEIA merged with Solar Energy Finance Association (SEFA) to provide the solar industry a single and consistent voice to the investment community.
Third-Party Solar Financing
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The U.S. has a long history of supporting energy infrastructure through the U.S. tax code. The market certainty provided by a long-term investment tax credit (ITC) for solar energy has supported private investment in manufacturing and project construction, a vital part in meeting our nation's energy policy goals, driving cost-cutting innovation and job growth.
Related News
Fueling Small Solar Business Growth Requires the ITC
With each passing day it seems like another large company, like Amazon or Target, announces new solar procurements or bold renewable energy commitments. These companies make the headlines, but the untold success story of solar power in America can be found in small businesses across the country that are making those deals happen.
Hundreds of Mayors Call on Congress to Extend the Solar Investment Tax Credit
A bipartisan group of 231 mayors sent a letter to Congress today urging them to pass the Renewable Energy Extension Act, a five-year extension of the solar Investment Tax Credit.
Forecast: Solar Tax Credit Extension Would Boost Jobs, Economy and Climate Fight
An extension of the solar Investment Tax Credit (ITC) would spark $87 billion in new private sector investment and add 113,000 American jobs over baseline estimates by 2030