Tag: "solar itc"

07/22/20

  02:36:00 am, by Jim Jenal - Founder & CEO   , 407 words  
Categories: All About Solar Power, Solar Tax Incentives

How do you spell Relief: S O L A R!

United States Capitol buildingAs Congress tries to come to consensus on another stimulus package, we are focused on something that could help rebuild the economy in a greener way.  Here’s our take, and a call to action!

Congress is now back in session, and task number one is to come up with a new round of stimulus spending to try and get the economy moving again, amidst the chaos of the worst pandemic in a century.  This is a big crisis, and it calls for big and bold solutions.

Our friends over at Solar Rights Alliance are good at thinking up big ideas, and they are johnny-on-the-spot now.  Here are a couple of key concepts that should be included in the next stimulus bill:

  • Extend the federal solar tax credit - presently the federal solar investment tax credit (ITC) is set to step down from 26% to 22% at the end of this year, and expire altogether after 2022.  The ITC should be extended at the prior 30% rate through 2025.  This is vitally important as utility-sponsored rebates have disappeared in many areas, leaving the ITC as the primary economic incentive.

  • Turn the ITC into a direct cash payment for at least the next twelve months.  While tax credits are great, if you aren’t working, you can’t use a tax credit.  Direct cash payments upon completion of the project would help close the liquidity gap that would otherwise keep projects from going forward.

These two simple steps would help restart the solar industry, resulting in thousands of good paying, can’t-be-outsourced jobs for workers across this country.  Moreover, home and business owners would lower their energy costs, leaving them with more money in their pocket to spend in their communities.  And on top of all that, we would be helping to green the grid, lowering greenhouse gas emissions - a necessary step in the battle to reverse climate change.

Sounds pretty good, right?  Damn straight!  But in this time of crisis, silent approval isn’t enough - action is required!

Fortunately we can make that action really easy.  Just click on that big, Take Action! button below and you will be redirected to a website where you can send an email to your U.S. Senators and Representative, urging them to take action to grow solar and jobs in the next stimulus.  It takes all of one minute to do it, but the benefit could be felt for years.  So what are you waiting for?  Mash that button now!

 TAKE ACTION!
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Jim Jenal is the Founder & CEO of Run on Sun, Pasadena's premier installer and integrator of top-of-the-line solar power installations.
Run on Sun also offers solar consulting services, working with consumers, utilities, and municipalities to help them make solar power affordable and reliable.

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