Nearly 1,000 Solar Companies Rally Behind Proven, Bipartisan Investment Tax Credit
Wednesday, Jul 17 2019
WASHINGTON, D.C. - Nearly 1,000 companies from across the U.S. solar industry supply chain today sent a letter to Congress calling for the extension of the Section 48 and Section 25D solar investment tax credits (ITC).
The Solar Energy Industries Association (SEIA) is leading a national coalition to extend the ITC, one of the most successful clean energy tax policies ever created. The ITC was passed by a Republican-controlled Congress in the 2005 Energy Policy Act and enacted by George W. Bush. It was extended in 2015 with bipartisan support.
Since then a large majority of Americans in both parties have concluded in multiple polls that they want policies that address climate change. The ITC offers lawmakers in both parties an opportunity to say they are taking initial and meaningful steps to reduce U.S. greenhouse gas emissions.
“If you want to show a commitment to addressing climate change, you extend the solar ITC,” said Abigail Ross Hopper, president and CEO of the Solar Energy Industries Association. “Supporting this proven policy is the first clear victory that lawmakers can deliver to Americans on climate change. As we debate long-term solutions, now is not the time to abandon the single most successful policy on the books to deploy clean energy in the near-term.”
The ITC, which is scheduled to start stepping down at the end of 2019, has a proven track record of success. Since its initial passage, the ITC has created more than 200,000 American jobs, added $140 billion in private sector investment, and grown solar deployment by 10,000%. As a result, solar reduces emissions annually, enough to take 16 million cars off the road. Since 2015, solar installations have doubled and there are now more than 2 million installations in all 50 states.
“Nearly 1,000 solar companies, big and small, are supporting an ITC extension because it continues to create hundreds of thousands of jobs, is driving innovation, and expanding solar access for Americans," said Lynn Jurich, co-founder and Chief Executive Officer of Sunrun. “Sunrun is an example of how smart policy like the ITC can work, employing over 4,000 people nationwide, installing solar on more than 240,000 homes, and constantly innovating with new technology and services that benefit all energy consumers.”
“The ITC extension will help maintain a stable market for continued solar development in the utility sector,” said George Hershman, President of Swinerton Renewable Energy. “This directly translates into investments in our nation’s rural communities by supporting more jobs across the solar value chain, providing long-term energy solutions at a lower cost to rate payers, and increasing the state and local tax base. The solar ITC is a win for workers, ratepayers and for America’s energy future.”
The letter, which was signed by companies working in every state across a vast majority of red, blue and purple congressional districts, is the beginning of a multi-pronged advocacy campaign lead by SEIA and its partners.
The national coalition expects to make a significant investment in lobbying, advertising, media outreach, social media and more. The coalition will call on lawmakers to defend the 242,000 workers and 10,000 businesses in the solar industry.
To join the effort, visit seia.org/DefendTheITC and use #DefendTheITC on all social media platforms to tell lawmakers to extend the ITC.
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.
Morgan Lyons, SEIA's Senior Communications Manager, [email protected] (202) 556-2872