Skip to main content

House and Senate Introduce Legislation for 5-Year Extension of the Solar Investment Tax Credit

Thursday, Jul 25 2019

Share
Press Release

Defend the ITC banner

 

WASHINGTON, D.C. - Senator Catherine Cortez Masto (D-NV) and Representatives Mike Thompson (D-CA), Paul Cook (R-CA), and Brian Fitzpatrick (R-PA) today introduced companion bills with a five-year 30% extension of Section 48 and Section 25D Solar Investment Tax Credits (ITC). The Renewable Energy Extension Act will call for the extension of the tax credits, HR 3961 in the House and S 2289 in the Senate. 

Following is a statement from Abigail Ross Hopper, president and CEO of the Solar Energy Industries Association, urging lawmakers to pass this critical legislation:

“These bills are clear, easy wins members of Congress can deliver to their constituents that create jobs, bolster the economy and address climate change. Polling shows that Americans across the political spectrum are concerned about our changing climate and they strongly support solar.

“Since 2005, when the ITC was first passed by the Republican-led Congress and signed into law by President George W. Bush, the ITC has created hundreds of thousands of jobs, sparked more than $140 billion in private investment and helped grow solar deployment by more than 10,000%.

“Now is not the time to turn our backs on this American success story. The ITC is the strongest policy there is to support clean energy development, grow the economy, create jobs, and meaningfully cut emissions.

“We are grateful to Sen. Cortez Masto, Rep.Thompson, Rep. Cook and Rep. Fitzpatrick for their leadership and are eager to build on the bipartisan support this legislation already enjoys. In the next several months, we look forward to working with all members of Congress to move this legislation over the finish line.”

###

About SEIA®: 

Celebrating its 45th anniversary in 2019, the Solar Energy Industries Association® is the national trade association of the U.S. solar energy industry, which now employs more than 242,000 Americans. Through advocacy and education, SEIA® is building a strong solar industry to power America. SEIA works with its 1,000 member companies to build jobs and diversity, champion the use of cost-competitive solar in America, remove market barriers and educate the public on the benefits of solar energy. Visit SEIA online at www.seia.org.

 

Media Contact: 

Morgan Lyons, SEIA's Senior Communications Manager, mlyons@seia.org (202) 556-2872

Related News

Wednesday, May 27, 2020

SEIA Statement on Treasury Department Guidance on Safe Harbor Change

WASHINGTON, D.C. — New guidance from the Treasury Department confirms that the safe harbor provisions for the solar Investment Tax Credit will be extended until October 15 as a result of the pandemic, giving solar companies more time to qualify for the important credit.

Read More
Tuesday, Dec 17, 2019

Industry Vows to Continue Fight for Pro-Solar Policies, Despite Missed Opportunity This Year

WASHINGTON, D.C. — Today Congress and the White House were unable to agree on including an extension of the solar Investment Tax Credit (ITC) in an end of year tax package meaning the credit will decrease at the end of this year. The measure also failed to include energy storage in the ITC.

Read More
Tuesday, Nov 19, 2019

House Clean Energy Tax Package Includes 5-Year Extension of Solar ITC, Storage Incentives

Today the House Ways and Means Committee released a comprehensive clean energy tax package that includes a five-year extension of the 30% solar Investment Tax Credit (ITC) and new incentives for energy storage.

Read More