As part of SEIA’s comprehensive campaign to extend the solar Investment Tax Credit (ITC), Congressman Mike Thompson (CA-5), has introduced legislation to extend the ITC for 5 years for both residential and commercial solar installations!
And now we need your help.
Please contact your Member of Congress and urge them to become a co-sponsor. This legislation is critically important to your company and our industry.
The “New Energy for America Act” (H.R. 2412) would extend Section 25D of the federal tax code for residential energy efficient property, as well as the Section 48 commercial ITC, for an additional 5 years. In introducing his legislation, Congressman Thompson, a senior member of the House Ways and Means Committee, said a 5-year extension of the ITC will give the solar industry time to reach “grid parity” in most U.S. electricity markets. It would also head off a disastrous “financial cliff” at the end of 2016, when the ITC is set to drop from 30 percent to 10 percent.
Below are some sample tweets you can use to share this excellent news:
Original co-sponsors of the legislation – and other Members of Congress we need to thank – include: Reps. Matt Cartwright (PA-17); Tony Cardenas (CA-29); Earl Blumenauer (OR-3); Richard Neal (MA-1); Ben Ray Lujan (NM-3); Scott Peters (CA-52); Chris Van Hollen (MD-8); Paul Tonko (NY-20); Bill Keating (MA-9); Peter Welch (VT-At-Large); Doris Matsui (CA-6); Ted Lieu (CA-33); Linda Sanchez (CA-38); Bill Pascrell, Jr. (NJ-9); Jared Huffman (CA-2); Raul Ruiz (CA-36); Ann McLane Kuster (NH-2); and Steve Cohen (TN-9).
The bottom line: our arguments about the success of the solar ITC are beginning to take hold. Without question, the ITC is paying huge dividends for America. Today, the U.S. solar industry is pumping $18 billion a year into our economy and creating tens of thousands of new jobs. By 2016, we will be generating enough clean solar energy nationwide to power 8 million homes, offsetting 45 million metric tons of damaging carbon emissions – the equivalent of removing 10 million cars off our roads and highways.
Please join us in thanking Congressman Thompson for his continued leadership on issues vital to our economy and environment – and thank all of the original co-sponsors for joining him in this important effort to build a clean energy future for America.
But remember: while this is an important step forward, we still have a long, difficult road ahead of us. Now, more than ever, we need your help and financial support. By some estimates, as many as 90 percent of solar companies nationwide could go out of business in 2017 without the ITC to help level the playing field with fossil fuels and other established energy sources. Working together, we can – and we will – build a lasting and prosperous energy sources for America, benefitting both our economy and environment for generations to come.
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