Posts Tagged ‘Investment Tax Credit’

26 December

Thank You, President Obama, For The Terrific Holiday Gift For Americans!

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Dear Friends, Visitors/Viewers/Readers,

Amaryllis5 w flash final

Miracle on Pennsylvania Ave (photographed & photoblended by sunisthefuture-Susan Sun Nunamaker)

Miracle on Pennsylvania Ave (photographed & photoblended by sunisthefuture-Susan Sun Nunamaker)

Sunshine Coming Through (credit: sunisthefuture-Susan Sun Nunamaker)

Sunshine Coming Through (credit: sunisthefuture-Susan Sun Nunamaker)

Thank You, President Obama, for signing the bill and bringing the Best Holiday Gift For All Americans To Transition Into Renewable Energy Age…. please refer to more details in this –>Post on “Solar For Oil: Miracle On Pennsylvania Avenue“.

(Please click on red links & note magenta)

       HAPPY  HOLIDAY  &  

            SUNNY  2016 !

gathered, photographed and photoblended by sunisthefuture-Susan Sun Nunamaker

any questions, suggestions, and concerns will be welcomed at sunisthefuture@gmail.com

Please also get into the habit of checking at these sites below for more on solar energy topics:

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20 December

Solar For Oil: Miracle On Pennsylvania Avenue

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Dear Friends, Visitors/Viewers/Readers,

Miracle on Pennsylvania Ave (photographed & photoblended by sunisthefuture-Susan Sun Nunamaker)

Miracle on Pennsylvania Ave (photographed & photoblended by sunisthefuture-Susan Sun Nunamaker)

Sunshine Coming Through (credit: sunisthefuture-Susan Sun Nunamaker)

Sunshine Coming Through (credit: sunisthefuture-Susan Sun Nunamaker)

I could’t  decide on which of the two images above (Miracle on Pennsylvania Ave or Sunshine Coming Through) to use for this post. Perhaps we should have you all, the readers, vote on it. Let me know via sunisthefuture@gmail.com

(Please click on red links & note magenta)

It’s great to be back after taking care of some family matter to report such terrific news! Thanks to one of our dear readers asking a very important question concerning the current status of our federal tax credit for installing solar.

For those of you who may need a bit of refresher on all the renewable energy & energy efficiency tax incentives throughout 50 states of USA, please click–>DSIRE. For U.S. Territories’ tax credit programs, please click U.S. Territories .  For U.S. Federal tax credit programs, please click Federal . Just a few weeks ago, an extension of the U.S. ITC (Investment Tax Credit) seemed unlikely and solar businesses globally were getting ready to base their future business strategies on the tax credit stepping down to 10% on January 1, 2017, and expiring entirely for individuals. Just at this nick of time….I should have known since my first time viewing the Miracle On 34th Street….many miracles may take place here in USA….even in Washington, D.C….

On December 18, 2015, the U.S. Senate has passed an omnibus spending bill which includes extension of the 30% federal ITC for solar (PTC for wind). Under this extension, the ITC will stay at 30% through 2020, and then decline gradually for two years before falling to 10%. The legislation also allows for PV projects to claim the credit for the year in which they begin construction. This bill includes the lifting of a 40-year ban on oil exports (this 40-year ban came into existence during the time when U.S. was having shortage of oil so it is now graduating from being a poor policy to being an exceptionally poor policy because U.S. is now an exporter rather than an importer of oil). So the elimination of this 40-year ban with ITC extension for solar (PTC for wind) is truly a win-win for both oil producers and renewable/solar producers of USA alike. It has passed both the U.S. House and U.S. Senate, with the final Senate vote being 65-33.  This was the final vote needed before the bill will be signed by U.S. President Obama (who supports it).

Various studies (GTM Research indicating that 25 GW of additional PV will be put online. IHS: this will prevent the first annual decline in the global solar industry in over a decade, Bloomberg New Energy Finance, etc.) have shown that ITC extension will dramatically increase the amount of solar installed in the USA by 2020.

In a SEIA/Bloomberg report, without the extension of ITC amounts to an additional 69 GW (gigawatts) of solar deployment between 2016 and 2022,

SEIA's analysis of data using NREL (National Renewable Energy Laboratory)'s JEDI (Jobs and Economic Development Impacts) model and BNEF (Bloomberg New Energy Finance)'s data covering the ITC (Investment Tax Credit)'s impact on jobs and economic investment between 2015-2011. (credit: SEIA, NREL, BNEF)

SEIA’s analysis of data using NREL (National Renewable Energy Laboratory)’s JEDI (Jobs and Economic Development Impacts) model and BNEF (Bloomberg New Energy Finance)’s data covering the ITC (Investment Tax Credit)’s impact on jobs and economic investment between 2015-2022. (credit: SEIA, NREL, BNEF)

solar industry stands to lose 80,000 jobs (Solar jobs derived from NREL’s Jedi model represent demand-side jobs-years, not comparable to the Solar Foundation’s job census which accounts both demand and supply-side jobs and uses a different methodology. For more information please click: ) http://www.nrel.gov/analysis/jedi/  and  http://www.thesolarfoundation.org/solar-jobs-census/ ) in 2017 and an additional 20,000 jobs in related affected industries, for a total loss of 100,000 American jobs. With the ITC extension, it would yield 61,000 more solar jobs in 2017 and 58,000 more jobs in 2021, etc. It is projected that the total solar investment in the US economy between 2016-2022 will be more than $124 billion, $39 billion more than if the ITC expires.

Truly, the ITC extension will provide solar businesses the regulatory certainty to invest in their operations and hire new employees. Who’d thought that it is a result of negotiating from lifting a 40-year ban on oil export?!  Solar For Oil! It is truly a time of Miracle On Pennsylvania Avenue!  The longer I am alive, the more I have to believe in Miracles….how can one not :)….

~have a bright and sunny day~

Gathered, written, photographed & photoblended, and posted by sunisthefuture-Susan Sun Nunamaker

Related articles:

~have a bright and sunny day~

gathered, written, photographed, and posted by sunisthefuture-Susan Sun Nunamaker

Any comments and suggestions are welcomed at sunisthefuture@gmail.com

You may also be interested in these posts from the past, below:

100% Electric Vehicle and 100% Solar By 2030

Discussion of the Importance of Value of Solar With Karl Rabago

Expanded Discussion of Value of Solar

In-Depth Analysis of Renewable Energy Policy With Toby D. Couture 

“Solar Tsunami” Shared by the Effervescent Professor Jose Cordeiro of Singularity University During World Future Society 2014 

Please also get into the habit of checking at these sites below for more on solar energy topics:

www.sunisthefuture.net

www.youtube.com/user/sunisthefuture

www.kiva.org/team/sunisthefuture

www.facebook.com/sunisthefuture

www.pinterest.com/sunisthefuture

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24 September

Support H.R. 2502 & Topaz Solar Farm

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Dear Friends, Visitors/Viewers/Readers,

(Please click on red links below)

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Please show your support for Renewable Energy by visiting-signing-sharing Renewable-FIT For Sunshine State!

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I’ve just received this email, to be shared with you all:

Dear Susan Sun,

One of the largest solar power plants under construction in the U.S. is the 632 megawatts (MWdc) Topaz Solar Farm in California.

(Let’s take a look at the Topaz Solar Farm in California, in the video below)

location of Topaz Solar Farm in San Luis Obispo County, CA

The plant will create 400 construction jobs, power 160,000 homes and generate an estimated $417 million in positive economic impacts. Right now, there are 4,100 MWdc of these utility-scale, clean energy solar projects under construction, putting thousands of electricians, steelworkers and laborers to work.

But unless Congress acts, new investments in clean energy could be in jeopardy.

Tell your representative to support H.R. 2502, a bill that would provide investors more certainty by allowing developers to qualify for the current solar Investment Tax Credit (ITC) when they start construction.

Deploying solar projects that can provide power on the utility and distributed generation scale requires a stable investment environment. The ITC has been a major contributor to the rapid growth of the solar industry. In spite of the national economic downturn, solar installations have grown by 3000% since the ITC took effect in 2006, a compound annual growth rate of 77%.

The U.S. now has 9,400 megawatts of installed solar electric capacity, enough to power more than 1.5 million American homes. Employment in the American solar industry has grown from an estimated 15,000 employees in 2005 to nearly 120,000 today, working in over 5,600 companies in all 50 states, the vast majority in small businesses.

This critical policy is set to expire at the end of 2016, but because the timelines for solar projects vary and can be uncertain, many developers are worried that their projects will not be online by the time the credit expires. The commence construction change would help drive an additional 4,000 MW of of solar capacity in 2017 and 2018 and would create tens of thousands of additional new domestic jobs.

Many representatives are supporting this bill, click here to find out if yours support the bill or if they need additional convincing.

Thank you for all that you do,

Christopher Mansour
Vice President, Government Affairs
Solar Energy Industries Association

PS – Learn more about the benefits of the solar Investment Tax Credit on our website.

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For clarification, below is the Summary of H.R.2502-113th Congress (2013-2014), in case you need to know:

Introduced in House (06/25/2013)

Renewable Energy Parity Act of 2013 – Amends the Internal Revenue Code to extend the energy tax credit to solar energy, fuel cell, microturbine, combined health and power system, small wind energy, and thermal energy properties for which construction does not begin before January 1, 2017.

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This is the information on Topaz Solar Farm provided by wikipedia: Topaz Solar Farm is a 550 megawatt (MW) solar photovoltaic power plant, being built in San Luis Obispo County, California. Construction on the project began in November 2011 and is expected to run through 2015. It is among the world’s biggest solar farms under construction. The $2 billion project will include First Solar’s thin-film panels, and the company will build, operate and maintain the project for MidAmerican Energy HoldingsPacific Gas and Electric will buy the electricity under a 25-year power purchase agreement. According to First Solar, it will create about 400 construction jobs. Annual generation is expected to be 1,096 GWh

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~have a bright and sunny day~

gathered and posted by sunisthefuture-Susan Sun Nunamaker

Any of your comments will be welcomed below or via sunisthefuture@gmail.com (please note if you do not want your email to be shared)

Homepage: http://www.sunisthefuture.net

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