The Solar Energies Industry Association (SEIA) reports that the solar investment tax credit policy for residential and commercial construction is threatened with expiration in December 2016. That's according to the organization.
Launched in 2006, the credit was one of the most important federal policies to launch the use of solar power in the U.S. It has driven job growth and boosted solar installation growth by over 1600%. The solar value chain is a boon to companies and drives both competition and technological innovation, which in turn, lowers costs for consumers.
The solar investment tax credit is set to drop to 10% at the start of 2017, and expected to result in a significant drop in solar construction. For projects already underway, there is concern that there will be less subsidy support if projects are not completed on time. SEIA is calling for industry professionals to rally the government to extend the tax credit.