SolarCity, SEIA Comment on ITC Extension

published: 2015-12-17 16:11 | editor: | category: News

The U.S. House of Representative announced to extend the Investment Tax Credit (ITC) for solar on December 16. SEIA and SolarCity respectively commented on the decision.

Rhone Resch, president and CEO of SEIA: the policy offers all Americans for clean , affordable and reliable energy

"By extending the solar investment tax credit for five years with a commence construction provision and a gradual ramp down, bipartisan members in both Houses have reestablished America as the global leader in clean energy, which will boost our economy and create thousands of jobs across America.

"Currently there are 200,000 solar jobs, and the extension is likely to add another 140,000 jobs or more. And with this extension, the solar industry can achieve its pledge of employing 50,000 veterans by 2020, a goal our industry takes very seriously.  These jobs are stable, well-paying and cannot be exported overseas.

"A five-year extension of the ITC will lead to more than $125 billion in new, private sector investment in the U.S. economy. And much of this growth will come from small businesses, which make up more than 85 percent of America's 8,000 solar companies. Over the last year, these companies told us they needed the extension of the ITC to provide their businesses with certainty, and SEIA has been working tirelessly to achieve that goal. Tonight, we're happy to see that Congress has responded.

"Solar power in this nation will triple by 2022, hitting 95 gigawatts. That's enough to power 19 million homes and represents 3.5 percent of U.S. electricity generation- up from 0.1 percent in 2010. And the extension will offset 100 million metric tons of CO2 annually- equivalent to the emissions from 26 coal fired power plants.

"We commend members of Congress in both parties for taking this bold step and we look forward to delivering on the promise that this policy now offers all Americans for clean, affordable and reliable energy."

Lyndon Rive, CEO of SolarCity: urge Congress to act quickly to enact the measure

SolarCity urged Congress to swiftly pass comprehensive legislation that includes an extension of the ITC for solar. The provision, included in sweeping appropriations and tax bills introduced by House Speaker Paul Ryan today, is the result of weeks-long bipartisan negotiations between Senate and House leaders.

The proposed legislation would follow on the heels of the historic global climate agreement in Paris, where 195 countries committed to tackle climate change and galvanize greater investment in clean energy. Consistent, long-term policies supporting solar energy, along with other clean energy sources, are critical to the growth of a lower-carbon economy. This week, analysts told the National Journalthat lifting the ban on crude oil exports would have a negligible impact on U.S. carbon emissions, while greater support and certainty for solar could more than double the nation's total installed solar capacity.

"On behalf of over 15,000 employees here in the U.S. and nearly 300,000 customers, SolarCity applauds the bipartisan agreement that prioritizes the growth of solar in the United States," said SolarCity CEO Lyndon Rive. "Using clean energy is the most important step an individual can take to address climate change and protect future generations. Combined with the historic Paris climate agreement, long-term certainty for the ITC sends a strong signal to the marketplace that investment in clean energy is the right way to drive continued economic growth and job creation. We urge Congress to act quickly to enact the measure."

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