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December 17, 2015 | An Open Letter to Congress
Thank you. The extension of the Federal Solar Investment Tax Credit (ITC) in the Omnibus Bill looks great. We have been picking up our phones to call and ask you for this and are elated to see you respond. Today feels like a day where democracy worked.
If you vote the ITC extension into law, then you can rest assured that you are saving our jobs and those of the 200,000 other solar workers in America. Installations under the extended ITC are projected to increase 54% between 2016-2020 (GTM Research). That means 54% more work and hundreds of thousands of additional jobs in solar if you vote this through today.
This bill supports a future of financial wealth and environmental health for millions of people. According to Bloomberg New Energy Finance (BNEF), the bill, if passed, will also spur over $73 billion of renewable energy investments and power 8 million more American homes with clean electricity.
We are one of the largest solar companies in the world, an early solar darling of Germany’s solar boom, and seventeen years old. This year, we established an Americas headquarters in Miami, Florida. Florida, while being “The Sunshine State,” has a much smaller solar industry, compared to the rest of the country.
However, with our expertise and the ITC, we know we will support Florida’s solar industry in creating thousands of jobs over the next five year. The cost of solar PV has dropped 95% since 2008 thanks, in large part, to the ITC.
The ITC extension levels the playing field, so solar can compete in a fair and open market. We thank you for including this provision in the Omnibus Bill and encourage you to vote yes.