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. This represents a missed opportunity to take an achievable step to boost the economy, add jobs and reduce carbon emissions. Following is a statement from Abigail Ross Hopper, president and CEO of the Solar Energy Industries Association on this development:
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.
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.
Come hear from tax experts to learn about the step down, what needs to be done to lock-in the 30% tax credit, and other information vital to your business and customers.
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
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.
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 ITC is a common-sense policy that helps every day Americans, whether it’s on a house, within a community, or on a tract of farm land. Until we have comprehensive legislation addressing climate change, the ITC is the strongest policy there is to incent clean energy development. We already know that the ITC has generated hundreds of thousands of jobs and injected more than $140 billion in private investment into the economy.
Over the last few years, experts and thought leaders in the energy field have echoed a popular refrain: solar + storage is the future. New legislation introduced last week in the U.S. Congress could mean that future is closer than we think.
A statement from Abigail Ross Hopper, president and CEO of the Solar Energy Industries Association, in support of policy advocated by Senators Tim Scott (R-S.C.) and Michael Bennet, (D-Colo.) in a letter to Treasury Secretary Steven Mnuchin. The policy would expand the universe of storage projects that are eligible for the Solar Investment Tax Credit.