The Solar Investment Tax Credit (ITC) is set to drop at the end of 2016 from 30% to 10%, making the economics difficult for commercial solar projects. Additionally, the tax credit will expire for residential projects, eliminating the tax benefits for residential solar installations
This would be a tremendous setback for Virginia solar, which, has brought over $15 million in investments to the state with the promise of exponentially increasing in 2016, with commercial and utility solar installations, as well as residential Solarize programs. Solar is a clean source of renewable energy, provides 174,000 jobs in the U.S., and increases our energy independence. Now is not the time to take away federal support!
For reference, here are a few links:
- Sen. Mark Warner Contact info: http://www.warner.senate.gov/public/index.cfm/officeinformation
- Sen. Tim Kaine Contact info: https://www.kaine.senate.gov/contact
- SEIA ITC blog: http://www.seia.org/research-resources/case-solar-investment-tax-credit-itc
- Raceto2017 map: http://raceto2017.com/the-numbers
Written By Amory Fischer and Jesse Reist