Dec 07, 2015
Supporting The Solar Investment Tax Credit
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!
Contact your Virginia senators Mark Warner and Tim Kaine to voice your support for solar energy and urge them to extend the ITC!
To learn more, visit the Solar Energy Industry Association’s blog or see its effects state by state here.
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
Written by: Tony Smith
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About The Author
Anthony Smith, PhD, is President and Founder of Secure Solar Futures. He brings over 40 years’ experience in energy efficiency, solar energy, and community economic development in Vermont, Pennsylvania, West Virginia and Virginia. He founded Secure Solar Futures in 2004 as CEO and President and leads the company’s innovation development and strategic partnerships. He serves as a founding board member of the Virginia Renewable Energy Alliance (VA-REA). He served as co-director and associate professor of the Eastern Mennonite University MBA program from 2008 to 2015. He earned his Masters in Architecture from the University of Pennsylvania, and a PhD from the Wharton School of Management, University of Pennsylvania.