U.S. Solar Industry Fights to Keep Alive a Federal Incentive Program
"The (program) has been the most effective policy in driving economic and job growth in the past two years," said Rhone Resch, CEO of SEIA, during a conference call Wednesday. "As we continue to slog through a sluggish economy, the tax equity market remains in a much smaller capacity than where it was in 2007."
The group continues to press by reporting that "if the program continues through 2013, then the solar industry will add another 51,000 jobs and 1,266 megawatts in 2013," according to Ucilia Wang.
Another reason why groups are pushing for this expansion is that solar projects are eligible for a 30% tax credit. Wang states that "with the grant program, project developers can obtain the equivalent amount in cash and write off their assets more quickly."