Congress has scheduled the expiration of one of the most important federal policies supporting renewable technologies. The Treasury Grant Program was passed in July 2009 as part of the Reconstruction and Recovery Act. Both homeowners and businesses can receive an unlimited 30% federal tax credit on the cost of their solar installation through the Business Energy Investment Tax Credit. As an alternative, the Treasury Grant Program may be awarded to select commercial solar projects. In this scenario, a 30% grant is given to these businesses up front instead of waiting for a tax credit.

One of the reasons this policy has been so vital is because it has contributed to the installation of 400 commercial solar generation systems which, in turn, have created 17,000 construction and manufacturing jobs across the country. . This is a great success in moving to more renewable technologies and creating “green jobs” that support home energy sources.

A recently released report by the Solar Energy Industry Association (SEIA) has reported that if the program were extended by two years, it could possibly create an additional 207,000 jobs related to the solar industry. Furthermore, the study shows that investment in the solar industry could increase by $48 billion and cumulative investment would increase by $21 to $22 billion between 2010 and 2016.

SEIA estimates that with the continuation of the Treasury Grant Program, 67,000 jobs will be created in 2015 and 158,000 jobs in 2016. They predict this will increase the position of the US over foreign suppliers in the PV industry and eventually will add 5600 megawatts, national economy. Finally, the study reasoned that “in five years the unemployment benefits saved and the additional tax revenues are greater than the government stimulus for all scenarios”.

Vote Solar is a non-profit organization whose mission is to bring solar energy into the mainstream. They are asking Congress for a two-year extension of the Treasury Grant Program to continue the fight toward more renewable energy. Through the Vote Solar initiative, ask your senators to support the continuation of the largest federal incentive for commercial solar projects.