New Solar Legislation to Decrease Consumers’ Costs as well as Carbon Footprint
According to PR Newswire, new legislation will even the playing field between residential and commercial solar. The Residential Solar Opportunity Act of 2021 is set to provide parity for residential solar customers alongside commercial. This is a huge win for homeowners and will create multiple job opportunities for solar installers, dealers, and small businesses.
The 25D Parity Coalition, which includes SunPower Corporation, Amicus Solar Cooperative, Aztec Solar, Blue Raven Solar, Clean Energy Credit Union, Dividend Finance, Energy Toolbase, Freedom Solar Power, GoodLeap LLC, Hanwha Q-Cells America, Jinko Solar (U.S.) Inc., Local Solar for All, Mosaic, Neil Kelly Company, Renova Energy, Sigora Solar, Solar United Neighbors Action, Sungage Financial, and Sunlight Financial, backs this legislation and explains how it’s a critical piece to effective change.
‘We applaud Representatives Sanchez (D-CA), Terri Sewell (D-AL), and Jimmy Gomez (D-CA) for the introduction of The Residential Solar Opportunity Act of 2021. The 25D credit is a federal residential solar energy investment tax credit (ITC) that allows the consumer to claim a percentage of the costs of a solar system for their home on their federal income taxes. The 25D credit is a highly successful program utilized by over 70 percent of the residential solar market. Achieving parity with commercial solar allows for residential and commercial solar to operate on equal schedules and to have a long-term horizon for sustained growth in both the residential and commercial markets,’ said Robin Dutta, the spokesperson for the 25D Parity Coalition and Senior Manager for Policy at SunPower. ‘In fact, over 56 percent of all U.S. solar jobs pre-pandemic were focused on installation, construction, and development for residential solar and is one of the fastest-growing jobs in the country. Residential and commercial solar are also critical to meeting efficiency, net-zero and climate goals.’
Congresswoman Linda T. Sánchez agrees that tackling the disparity between residential and commercial solar is a huge step.
‘Homeowners play a critical role in supplying our electric grid with the renewable energy we need to eliminate carbon emissions from our economy and combat climate change," said Sánchez. "As we prepare to make major investments in renewable energy, we must ensure that homeowners who want to reduce their carbon footprint have access to the same resources as corporations. This legislation would provide the same long-term value of the residential solar energy credit as the corporate solar investment tax credit under current law.’
25D Parity Coalition is a collection of U.S.-based solar companies that manufacture, finance, sell, and install residential solar and energy storage products across the country as well as national non-profit organizations focused on solar access and equity. The members of the coalition are extremely happy about homeowners’ increased ability to switch to solar.
‘Distributed solar is proven to lower electric bills, add resiliency to the grid, and minimize carbon emissions. This bill levels the playing field to ensure that homeowners can choose how and when they install solar, and we applaud Congresswoman Sanchez's commitment to both clean energy and equity,’ said Scott Moskowitz, Director of Public Affairs, Q CELLS America.
‘Solar is a great investment for American families and a great investment for America,’ said Anya Schoolman, Executive Director of Solar United Neighbors. ‘Solar helps people save money by taking control of where their electricity comes from. This extension will allow more families to benefit from solar energy and it will create more good-paying jobs.’
Source: PR Newswire