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, [email protected] (202) 556-2872

Related News

Friday, Nov 04, 2022

Solar and Storage Industry Makes Recommendations to U.S. Treasury Department on Implementation of the Inflation Reduction Act

WASHINGTON, D.C. — The Solar Energy Industries Association (SEIA) today filed responses to the U.S. Department of the Treasury's request for public comments on the clean energy tax provisions of the landmark Inflation Reduction Act (IRA).

Read More
Tuesday, Aug 16, 2022

President Biden’s Signature on Historic Inflation Reduction Act Secures America’s Position as the Global Leader on Clean Energy

WASHINGTON, D.C. — Today President Biden signed the Inflation Reduction Act into law, sparking the biggest investment in clean energy ever made in U.S. history. The law contains 10-year tax incentives for solar and storage deployment, investments in domestic solar manufacturing and other critical energy provisions.

Read More
Friday, Aug 12, 2022

House Takes Important Step Forward on Clean Energy Progress by Passing Inflation Reduction Act

WASHINGTON, D.C. — Today, the House of Representatives approved the Inflation Reduction Act, which includes historic, long-term provisions to decarbonize the electric grid with significant clean energy deployment and domestic manufacturing.

Read More