Back on Track: Solar Industry Set to Flourish
Back on Track:
Solar Industry Set to Flourish
After more than a year of debate over costs, taxes, tax credits and regulations, there is an extended and expanded Solar tax credit!
The impactful Inflation Reduction Act (IFA) includes a 10-year extension of the solar ITC at 30% and expands incentives to storage-only installations by Solar installers. New incentives for domestic manufacturing are going to provide a tremendous boost to clean energy jobs and businesses all over the country.
The IFA also brings great news for Solar systems installed in 2022 – the increased tax credit of 30% will apply retroactively!
SolTerra is a proud member of WASEIA, Washington’s Solar Energy Association, and are thrilled for what these Incentives mean for our industry and collective future!
“[It’s] a monumental day for America’s clean energy progress and global climate leadership. With the passage of the Inflation Reduction Act in the Senate, solar and storage companies are one step closer to having the business certainty they need to make the long-term investments that decarbonize the electric grid and create millions of new career opportunities in cities and towns across the country.
“This legislation is the most transformational investment America has ever made in our climate future, and we are thankful to our members, the clean energy community and every one of our solar champions in Congress for their work to get us to this historic moment. The solar industry has set a goal to account for 30% of all U.S. electricity generation by 2030, and this legislation will be a catalyst for reaching that target. Now the work can begin to build out America’s clean energy economy with historic deployment, domestic manufacturing, investments in low-income communities, energy storage, smoother interconnection, and so much more.
“The United States is poised to lead the world’s clean energy transformation while lowering costs for families. We look forward to seeing…this new era of American leadership.”
SEIA’s official statement – by Abigail Ross Hopper, president, and CEO of the Solar Energy Industries Association (SEIA), as the Senate passed this historic legislation last week.
The Inflation Reduction act has stabilized the industry for the next 10yrs and our team at SolTerra is gearing up for a bright and busy future with our community in the Puget Sound area.
If you are interested in learning more about how solar can power your home, get a free quote here, email us at [email protected], or call or text 206-462-1103.
Author Bio:
Jessica Miller (she/her) is a PNW Native and professional sun appreciator working as a Solar Design Consultant. Her 12 year old dog Lucy is a regular at the office and makes sure Jessica plays as hard as she works. When not on a roof, she can be found in the garden or falling down research rabbit holes.
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