ITC extension enters the House – It’s here! The House Ways and Means Committee has released a comprehensive clean energy tax package that includes a five-year extension of the 30% solar Investment Tax Credit (ITC) and new incentives for energy storage. You can read more about the implications of the extension here. Around the industry, this news has people buzzing:
“This is a positive development for everyday Americans who want access to affordable clean energy. The Solar Investment Tax Credit (ITC) enjoys bipartisan support in the House and is responsible for making solar energy an American economic success story. An ITC extension will create thousands of jobs, add billions of dollars in private investment to the economy and reduce emissions. These benefits will be further accentuated with the inclusion of storage in a clean energy tax package.”
- Abigail Ross Hopper, president and CEO of SEIA
“The Ways and Means Committee GREEN Act Discussion Draft represents a thoughtful, constructive and forward-looking approach to clean energy tax policy. We are particularly encouraged by the stable tax platform this proposal would bring to the renewable sector, and its critical support for emerging markets like energy storage, electric vehicles and offshore wind. We applaud Chairman Neal and Select Revenue Measures Subcommittee Chairman Thompson for advancing this initiative, and call on Congressional leadership in the House and the Senate to include clean energy tax incentives as part of any must-pass legislation this year.”
- Gregory Wetstone, president and CEO of the American Council on Renewable Energy
“It’s clear there is some level of support for extenders as part of a year-end deal. However, that deal is proving elusive so far. Frankly, it’s too soon to have any clear sense of how things will play out. We likely will see a month-long extension to get us into December but the situation is still too fluid and Ukraine is sucking all the oxygen out of DC.”
- Gregory Jenner, Stoel Rives energy partner and former head of the US Department of Treasury’s Office of Tax Policy
“The release of the GREEN Act of 2019 by the House Ways and Means Committee is a critical step toward a successful ITC extension. We are hoping for speedy action on the House floor so this bill can reach a vote. Success for the GREEN Act will mean more money in average American’s pockets, a cleaner energy future, and a more robust renewables sector. For those unable to make solar work for them in 2019, the GREEN Act gives additional time a homeowner might need to install solar and start saving money.”
- Daren Goldin, CEO, Goldin Solar
St Louis going 100% clean – “St. Louis officials released a plan late Monday to generate 100% of the city’s energy from wind and solar power by 2035. The report calls for achieving complete renewable energy generation for city operations by 2025. It noted that the majority of electricity for city operations should come from wind. Generating wind costs less than fossil fuels, said Andrew Linhares, St. Louis regional director and senior counsel for renewable advocacy group Renew Missouri. For residents, the report advocated for developing a bulk-purchasing program for solar equipment. Under such a program, the costs of installing solar become lower as more customers participate in it. The Missouri Botanical Garden and Washington University last summer launched GrowSolar, a bulk purchasing program that also educates residents about solar power and financial incentives they can access to help afford panels.” Source: Stl. Public Radio
Target installs 500th rooftop solar system – Target, the leader in corporate rooftop solar is celebrating the 500th solar installation on a Target store. The 500 installations combine for more than 240 MW in capacity, which is more than nearly half of all States, let alone companies. The accomplishment also represents an early reaching of Target’s goal of installing 500 rooftop solar projects by 2020. Source: Target
Facebook signs deal for 107 MW of solar in GA with Silicon Valley Ranch – “Walton Electric Membership Corporation (EMC) has signed a contract with Silicon Ranch on behalf of Facebook for a new solar project as part of its agreement to supply 100 percent renewable energy for Facebook’s data center in Newton County, Georgia. Facebook chose Walton EMC as the power supplier for the Newton Data Center when it announced the facility in March 2018. The Newton Data Center is Facebook’s ninth such state-of-the-art facility in the country. Facebook’s data centers are among the most advanced, energy-efficient facilities in the world. On behalf of Facebook and Walton EMC, Silicon Ranch will fund, construct, own, operate and maintain a 107-megawatt (MWac) facility, Snipesville II, in Denton, Georgia, an unincorporated community in Jeff Davis County. Snipesville II will come online in 2021.” Source: Walton Electric Membership Cooperation
NextEra completes South Carolina project – NextEra Energy Resources’ Shaw Creek Solar Energy Center is officially live! The 75 MWac (74.9 but who’s counting) project was completed in just 10 months. The project is expected to generate nearly $9 million in additional tax revenue for Aiken County, SC. Source: NextEra Energy Resources
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