SEIA Thanks Members of Congress for Preserving Critical Solar ITC
Monday, Dec 18 2017
WASHINGTON, D.C. - With Congress scheduled to vote on the tax bill later this week, the Solar Energy Industries Association (SEIA) released the following statement from president and CEO, Abigail Ross Hopper:
“Today marks the second anniversary of Congress extending and reforming the solar Investment Tax Credit (ITC). SEIA appreciates the hard work of our solar champions in Congress to ensure that the tax reform bill maintains the ITC in its current form. In particular, the final bill preserves the current ramp down of the ITC through the end of 2021, maintains the 10 percent ITC for commercial developers beyond 2021, and allows the Treasury Department to issue guidance on commence construction eligibility criteria.
"Moreover, the conference report changed the new Base Erosion Anti-Abuse Tax [BEAT] to allow the Investment Tax Credit to be used by solar investors. Given the complexities of the BEAT, we look forward to working with our congressional allies to modify the provision to allow unused tax credits to be used in future tax years.”
Celebrating its 43rd anniversary in 2017, the Solar Energy Industries Association® is the national trade association of the U.S. solar energy industry, which now employs more than 260,000 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.
Alex Hobson, SEIA Senior Communications Manager, [email protected] (202) 556-2886