More than 500 solar companies are asking Congress for help as the coronavirus takes a toll on their industry.
“We are also faced with a reality we can’t ignore: the solar industry could lose up to half its workforce as a director result of COVID-19,” said Abigail Ross Hopper, president and CEO of the Solar Energy Industries Association.
“The U.S. solar industry employs 250,000 Americans, providing above-national-average wages, and injects nearly $19 billion annually in infrastructure investments across the country. The COVID-19 crisis is threatening these jobs and investments at a time when we need them most,” read the letter.
The industry asked congressional leaders to advance policies that would help stabilize the solar industry including a direct pay option and an extension of the investment tax credit.
The Association outlined three proposals:
1. Launch a program to provide a choice of existing ITC or direct cash payments in lieu of the ITC for all Section 48 and 25D qualified solar energy projects for the length of the investment tax credit period including any extensions under this relief program.
2. Pass a multi-year extension of the Section 48 and Section 25D solar ITC and postpone the corresponding placed-in-service deadlines.
3. Extend the Safe Harbor agreement outlined in IRS Notice 2018-59 to accommodate all equipment delivered by the end of the years in 2020 and 2021 so long as the respective projects are placed in service by the end of the ITC phase-down period
and equipment was ordered and paid for in the previous year.
Click here to read the entire letter and the names of those who signed it.
Source: Solar Energy Industries Association