First, I would like to thank you for your service and dedication to our District. You have represented us well and have been working on policy that has real impact on your constituents. I want to get right to my point: the reason for this letter is to urge you to fight to permanently extend the 30% Federal ITC for solar, wind, and other renewable energy technologies. You are probably aware that the solar Federal ITC only has three years left and in 2022 there will be no tax credit for homeowners that add solar to their home.
As the CEO of a local solar photovoltaic (PV) installation company, I know first-hand how critical the 30% tax credit is to our business and the solar industry as a whole. The 30% tax credit is a simple, effective policy tool that contributed to the creation, growth, and stabilization of the entire solar industry. Companies like Allterra Solar, Scudder Solar, and Sandbar Solar – to name a few – would not be thriving without the tax credit.
The following is a summary of the key benefits of the 30% Federal Tax Credit for solar:
- The tax credit is the key financial incentive that makes solar electricity systems affordable to homeowners and businesses, allowing them to make a sound investment while reducing their carbon footprint.
- In States like California, the tax credit is the major reason the solar industry is thriving. We have created thousands of jobs, are major economic and social contributors to our communities, and we are the foot soldiers leading the march toward a carbon free California.
- The Federal tax credit is critical to getting the solar industry off the ground in many U.S. states in the Midwest and Southeast. There are many parts of the Country where solar PV could be a huge job creator and economic boost…but only with smart, effective policy like the 30% Federal ITC. Extending the tax credit gives these states the chance to kickstart their solar industry.
Allterra’s request: Please support Chuck Schumer in his effort to pass permanent tax incentives for domestic production of clean electricity and storage, energy efficient homes and commercial buildings, electric vehicles, and modernizing the electric grid.
CEO – Allterra Solar