While most of Vote Solar’s work is focused on state and local level solar advocacy, we do weigh in when opportunities to advance our nation’s solar economy are on the move in the capitol. In 2008 we helped successfully extend the expiring 30 percent investment tax credit. The critical federal incentive is now locked in until 2016 and expanded for residential and utility system owners, effectively making solar installations, from small 1 kilowatt roof top systems and large-scale 250 megawatt solar power plants, a third cheaper.
Now Vote Solar is busy helping shape these provisions for solar at the federal level:
Protecting PACE from Fannie & Freddie
Cities and counties throughout the U.S. are developing new finance programs that help Americans install solar and improve the efficiency of their homes and businesses. Called Property Assessed Clean Energy (PACE), these programs enable local governments bring new green jobs, energy bill savings, and environmental benefits to their communities. Now the lending giants at Fannie Mae, Freddie Mac and their regulators at FHFA are trying to stop these programs in their tracks. They’re attacking a century-old local government right and throwing a massive wrench in American green job growth and investment. It’s time for Congress to get PACE back on track. Learn more here.
Vote Solar lead for the PACE federal initiative is Adam Browning.
Extending the Treasury Grant Program
Congress authorized these cash grants in lieu of the commercial investment tax credit (ITC) as part of the Recovery Act – an effort to make the 30% federal incentive useful in an economy plagued by meager appetite for tax credits. To date, the grants have supported more than ten thousand jobs in solar alone. With tax equity still scarce and the program set to expire at the end of this year, let’s keep this effective green job driver in place through 2012. Take action here.