More than 200 mayors from across the U.S. are urging Congress to extend the investment tax credit for solar power, a credit that is scheduled to start dropping at the end of this year.
Only two mayors in Oklahoma were among the 231 who signed the letter. They were Mayor Breea clark of Norman and Mayor Will Joyce of Stillwater.
They do not want the 2015 tax deal to be phased down by congress and have asked for five more years of the ITC. At the end of 2019, the tax credit is to start dropping from the current 30% value to 10% for commercial projects in 2022.
“The communities we serve, including residents and local businesses, have seen the rewards of investing in technology like solar,” the mayors wrote in the letter and asked for enactment of two bills—-S2289 and H.R. 3961 which were introduced this past summer.
“Year after year, we have seen the number of solar installations grow in our towns and cities. Adoption of renewable energy has accelerated as a result of policies such as the [ITC], which has made it possible for more people, in more places, to choose solar energy and lower electricity bills.”
Click here to read entire letter and see who signed it.