SEIA Supports Proposal to Make Storage Projects Eligible for Solar Investment Tax Credit

WASHINGTON, D.C. – Background: Below is 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.

“In sending their letter to Secretary Mnuchin seeking the expanded and more defined eligibility for storage in the Solar Investment Tax Credit, Senators Scott and Bennet have made a strong case about the value of storage as part of our overall energy portfolio. As the Senators point out, fully qualifying storage technology for the ITC will free up investment from thousands of project sponsors bolstering grid reliability and energy security for the future. The opportunity to stabilize the grid through expanded solar deployment bolstered by storage cannot be lost on us as the Southeast struggles to recover from the devastating effects of Hurricane Florence and as the whole country is working to modernize the grid. “We thank Senators Scott and Bennet for their commitment to smart electricity policy and for raising this issue with Secretary Mnuchin, and we look forward to working with the administration to ensure that storage gets added to the ITC.”

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About SEIA®:

Celebrating its 44th anniversary in 2018, the Solar Energy Industries Association® is the national trade association of the U.S. solar energy industry, which now employs more than 250,000 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.

Media Contact:

Alex Hobson, SEIA’s Director of External Communications, ahobson@seia.org (202) 556-2886