Last year was a year like no other, filled with pain and suffering, resilience, bravery and immense uncertainty. The holidays, normally a time to unwind and decompress with loved ones, looked much different this year for most Americans.
American families, businesses, and communities are all going solar because it saves them money and adds predictability during these difficult times. In addition to generating local tax revenue, solar cuts electricity costs. This can help small businesses stay afloat and can help schools direct funds to teacher salaries and classroom upgrades.
I want to share our vision for the next decade, and more specifically, for our new President-elect. It goes without saying that this is an exciting time to be in the solar industry. We are now 32x bigger than we were a decade ago and this $18 billion industry supports American families in every state. Solar is a job-creating engine with bipartisan support and helps to bring clean, affordable electricity to millions.
WASHINGTON, D.C. – Today the Solar Energy Industries Association (SEIA) is releasing a suite of policies and executive actions that it is asking President-elect Biden and the newly elected Congress to act on during their first 100 days in office.
The 2020 election will have tremendous consequences for the future of energy and climate policy in the United States. To meet this moment and provide guidance for the incoming Biden administration and new members of Congress, SEIA has prepared a 100-day legislative and executive agenda.
COVID-19 is Harming Tax Equity Financing At the outset of the COVID-19 pandemic, we heard scattered reports of medium- and long-term decreases to the availability of tax equity financing, as well as those who faced immediate challenges.
The Solar Investment Tax Credit Has Spurred Job Creation The solar Investment Tax Credit (ITC) is one of the most successful clean energy policies in U.S. history and has helped the industry grow by more than 10,000% since it was enacted in 2006. A long-term extension of the ITC was passed by Congress in bipartisan fashion in 2015. This extension included a phasedown schedule that began at the end of 2019. The current 26% credit will step down to 22% at the end of 2020. Before the COVID-19 recession, solar companies added more than 150,000 U.S.
Dozens of major corporations and global brands signed a letter to Congressional leadership, urging them to pass measures in upcoming COVID-19 recovery legislation that will spur clean energy growth.