SEIA Urges Senate Finance Committee to Look Carefully at Value of ITC

WASHINGTON, DC — Rhone Resch, president and CEO of the Solar Energy Industries Association, released the following statement today as the Senate Finance Committee unveiled its options paper for reform of the U.S. tax code:

“Most importantly, the Senate Finance Committee recognizes the importance of providing American businesses with greater certainty when it comes to the tax code.  When smart policies, such as the solar Investment Tax Credit (ITC), are given time to work as intended, they can produce extraordinary results.

“In just a short period of time, the ITC has helped to create thousands of new American jobs, bolster the U.S. economy, drive down costs and expand consumer choice in the marketplace.  Today, there are 7.7 gigawatts (GW) of solar installed in the U.S. – enough to power more than 1.2 million American homes – and another 5.2 GW is expected to be installed this year.

“Clearly, smart polices like the ITC, along with industry innovation, have made solar a real bright spot for the U.S. economy.  Today, America’s solar industry employs nearly 120,000 workers throughout the country.  That’s a 240% increase in jobs since the ITC was extended in 2008, making solar one of the fastest-growing industries in the nation.”

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More Resources:
Senate Finance Committee Staff Infrastructure, Energy and Natural Resources Tax Reform Options Paper

About SEIA®:
Established in 1974, the Solar Energy Industries Association® is the national trade association of the U.S. solar energy industry. Through advocacy and education, SEIA and its 1,000 member companies are building a strong solar industry to power America. As the voice of the industry, SEIA works to make solar a mainstream and significant energy source by expanding markets, removing market barriers, strengthening the industry and educating the public on the benefits of solar energy. www.seia.org

Media Contacts:
Jamie Nolan, jnolan@seia.org, 202.556.2886
Ken Johnson, kjohnson@seia.org, 202.556.2885