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10/13/2011 03:58 PM     print story email story  

Solar Can Create 40,000 Jobs in 2012, Federal Incentives Need Extension

SustainableBusiness.com News

Expressing concerns that House Republicans will exploit the Solyndra bankruptcy by allowing critical solar industry incentives to expire this year, a report commissioned by the Solar Energy Industries Association (SEIA) argues how important it is to extend Treasury Department grants to add jobs to our ailing economy.

SEIA wants the incentives to be extended for another year, saying it would create 37,400 jobs in 2012 and an additional 2000 MW of solar capacity by 2016, enough to power 400,000 homes.

"More than 100,000 Americans work in the solar industry, double the number in 2009. Solar is a proven job creator at a time when the unemployment rate for the country remains stubbornly high," says Rhone Resch, SEIA CEO. "The 1603 Treasury Program has been the single most effective policy driving renewable energy growth during the past two years."

The Section 1603 Treasury Program allows solar developers the option of either receiving an up-front grant or a tax credit.

The program, established as part of the stimulus bill in 2009, expires this year. Capital available for solar projects is still hard to come by, and investors still need grants, not tax credits, SEIA says.

The program doesn't create new incentives, it simply accelerates the timing of the existing credit.  This solution was designed to provide the liquidity needed for development of domestic energy projects during difficult financial times. 

"At a time when President Obama and Congress are looking for solutions for America's jobs crisis, it would be unconscionable to allow this proven job-creating program to expire. The bottom line is that our capital markets are still in trouble and this program is needed today as much as it was when it was created. Killing the 1603 Program amounts to a tax increase on the thousands of small businesses that are creating solar jobs."
Here's the report:

Website: http://e.seiamail.org/l.jsp?d=1919.193447.565.64Z6cNGNAhtaSrjrDCTnD5Q..A



Reader Comments (3)

Author:
joe

Date Posted:
10/14/11 01:21 PM

How can the oilegarchy keep winning with their uglie game of disinformation. They are estimated to recieve between 14 and some 100 billion in subsidies. Can someone convey the simple truth so that the goons can't continually lie their way out of their extremely right winged privileged position and their monied control of the propaganda/F[i]x News. The people don't have the time or ability to check the facts. Like 1984 they have to listen to the big lie over and over. The benificiaries of establised, controlling, big businessess are the government. It is fascism. "Patriotism is the last refuse of a scoundrel" Tomas Pain And Robocommentators, stop wasting our time and please read the bible.

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Author:
vdesh

Date Posted:
01/10/12 03:05 PM

Solar incentive should be extended to create new jobs.

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Author:
Les

Date Posted:
04/16/12 11:58 AM

Currently our best solution to the non-linear global weather issues is offsetting the cause via solar power. Its the best long term solution also creating vital jobs in the process. Just one good disaster of which we have had many in the last couple of years (just the beginning it will get worse)eats up more tax dolars than doubling of the renewables tax incentives. The byproduct of the renewable/solar tax incentives is more tax base! More incentives are needed for solar and less for Nukes and oil...

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