Farragut West Knoxville Network
What's happening out West
Solar Energy
As energy prices increases, I have been thinking a lot lately about my own carbon footprint and how I can consume less non-renewable energy. I received the email noted below about one of the tax benefits added to the Bail Out Bill. This may be something you would like to take a look at for your home or business.
From the email:
Whatever you feel about today's passage of the Federal Government's Emergency Economic Stabilization Act of 2008 (a.k.a. Bail Out or Rescue Plan), the great news for U.S. citizens is that it included extension of the 30% Federal Solar Tax Credits and removed the $2000 monetary cap for residential solar installations! Tennessee is already the largest producer of solar panels (Sharp Solar Energy Solutions in Memphis, TN) and another solar supplier, BigFrogMtn is in Chattanooga. Read below for more!
If you are a business, and you are interested in putting the sun to work for you on your roof-top or on your grounds, please contact me.
Sincerely,
Harry G. Paris
ISA Oak Ridge Section Program Chairman
www.GeorgeParisCo.com
Toll Free: (800) 699-0601 / (800) 831-0127 FAX
Local: (865) 966-2141 / (865) 966-3172 FAX
Cell Ph: (865) 250-1638
----------------------- Forwarded Message -----------------------
FOR IMMEDIATE RELEASE
October 3, 2008
Federal Solar Tax Credits Extended for 8 Years, US Poised to Become
Largest Solar Market in the World
Industry Leaders Forecast Dramatic Growth in the U.S. Solar Market by
2016 with Extension of Credit
WASHINGTON * Today, by a vote of 263-171, the U.S. House of
Representatives passed historic legislation that extends the 30-percent
federal investment tax credit for both residential and commercial solar
installations for 8 years. This landmark legislation is part of H.R.
1424, the Emergency Economic Stabilization Act of 2008,designed to
address the U.S. financial crisis. It is the most significant federal
policy ever enacted for the solar industry. President Bush has vowed to
sign the bill into law. The Senate passed the bill on Wednesday night.
*This bill is a major step in ou! r long journey toward energy
independence and ensures that solar energy will be a significant part of
America*s energy future,* said SEIA president Rhone Resch. *This
long-term extension of the solar tax credits will create a domestic
solar industry with hundreds of thousands of jobs while providing clean,
affordable, carbon-free energy to millions of American families,
businesses, and communities.*
*On behalf of the 60,000 Americans employed by the solar energy
industry, we would like to thank Leaders Reid and McConnell and Senators
Baucus, Grassley, Cantwell and Ensign for their dogged support of the
solar tax credit extension. In the House we are thankful to Leaders
Pelosi, Hoyer, Boehner, and Blunt, and Chairman Rangel, Ranking
Republican McCrery and Rep. Camp among many others who have long worked
to bring solar energy to the mainstream. These leaders have broken
through partisan politics and have provided a bright future f! or solar
energy in the United States,* said Resch
*By passin g this bill, Congress has finally given the solar energy
industry *policy certainty* that will attract investment, expand
manufacturing and lower the cost of solar energy to consumers,* said
Roger Efird, SEIA chairman and president of Suntech America, a leading
Chinese solar power manufacturing company. *This will allow companies
like mine to move forward with expansion plans to serve the growing U.S.
market.*
*This bill puts the sun to work for every American,* added Resch.
*And by 2016, we expect solar energy to be the least expensive
source of electricity for consumers.*
The solar investment tax credit (ITC) provisions will:
· Extend for 8 years the 30-percent tax credit for both residential
and commercial solar installations;
· Eliminate the $2,000 monetary cap for residential solar electric
installations, creating a true 30-percent tax credit (effective for
property placed in service afte! r December 31, 2008);
· Eliminate the prohibition on utilities from benefiting from the
credit;
· Allow Alternative Minimum Tax (AMT) filers, both businesses and
individuals, to take the credit;
· Authorize $800 million for clean energy bonds for renewable energy
generating facilities, including solar.
The solar tax credits were originally enacted in the 2005 and have
created unprecedented growth in the U.S. The amount of solar electric
capacity installed in 2007 was double that installed in 2006.
*Over the last 2 years, these tax credits have turned the solar
industry from a small, cottage industry into an economic engine for
America. Electricians, plumbers, roofers and construction workers can
now get back to work. These jobs are the backbone of the American
economy and the solar industry is creating them at a time when they are
needed the most,* said Resch.
According ! to a new economic study by Navigant Consulting, Inc., the
8-year ex tension of the ITC will create 440,000 permanent jobs and
unleash $325 billion in private investment in the solar industry. This
study did n
ot factor in elimination of $2,000 monetary cap on the
residential credit, so the actual job creation and investment could be
even greater.
*This is a big boost for the residential market in particular,
allowing homeowners to contribute to our nation*s energy
independence,* said Efird. *It also opens the floodgates for
building large, utility-scale solar power projects that need longer
timeframes to complete.*
To date, there are 27 such utility-scale solar power projects totaling
5,400 megawatts of power in various stages of development; most were on
hold due to uncertainty surrounding the expiring tax credits.
Because solar energy components are manufactured near their markets,
this extension will create manufacturing and installation jobs in all 50
states. The states that wil! l enjoy the largest economic boost are
California, Florida, Arizona, New Mexico, Nevada, New Jersey,
Massachusetts, New York, Oregon, and Washington.
Similarly, the economies of Pennsylvania, Michigan, Ohio and the rest
of the Great Lakes region will grow significantly as a result of the
extension. This area of the country has suffered greatly from a huge
decline in jobs in the automotive and traditional manufacturing
industries.
According to the same study, more than 28 gigawatts of electricity will
be produced from solar energy by 2016 * enough to power more than 7
million homes.
*Success has not come easy. It required a strategic campaign that
included dedicated SEIA staff, a committed board, and active membership
all focused on one goal. It took seven votes in the House and 10 votes
in the Senate, but in the end, Congress came through. This effort has
established SEIA as a major energy player on Capitol Hill,* sai! d
Resch. *We have a lot of opportunity in front of us and will be b ack
next year to work on critical issues such as transmission
infrastructure, renewable electricity standards, and combating global
warming.*
###
Contact:
Monique Hanis, 202-682-0556, ext. 4, mhanis@seia.org (
mailto:mhanis@seia.org )
Jared Blanton, 202-682-0556, ext. 96, jblanton@seia.org (
mailto:jblanton@seia.org )
Mark Sokolove (Tiger Communications), 703-302-8382, mark@tigercomm.us (
mailto:mark@tigercomm.us )
Background Resources:
9.15.08 Navigant Consulting, Inc. *Economic Impacts of Extending
Federal Solar Tax Credits*:!
http://www.seia.glmailmx04.com/util/link.jsp?e=0-jkh8danTnn-qkJdT6K...
Consulting Report 9.15.08.pdf (
http://www.seia.glmailmx04.com/util/link.jsp?e=1G-ss0UtvX1o-1AQMl4h...
Consulting Report 9.15.08.pdf )
H.R. 1424 Bill Summary:
http://www. seia.glmailmx04.com/util/link.jsp?e=2O_odGyrj90HXsR_lt2roFsdG4gEdk9HY8G-o2yJ3w0-cvg..A&s=8323TqHFbAuTEZr5s3lv6cw..A&v=9x_H5VTsedtZpw6VLDi2jNw..A
(
http://www.seia.glmailmx04.com/util/link.jsp?e=3HAdVkreIcQEJ1VfAFh0...
)
H.R. 1424 Full Bill Text:
http://www.seia.glmailmx04.com/util/link.jsp?e=47YNycyp8pqXJlMxZ4G3...
(
http://www.seia.glmailmx04.com/util/link.jsp?e=5rawdfBlylmgFNRgaGa9...
)
Background on the ITC:
http://www.seia.glmailmx04.com/util/link.jsp?e=6fVN3cfCsv93ixjEuWNZ...
(
http://www.seia.glmailmx04.com /util/link.jsp?e=7dj4Jpyu1bzFDgrz26G82_fASBphN8Pw9ISU-XcFJt5TJarXf4DwQDOPGFeSl50Jy&s=8323TqHFbAuTEZr5s3lv6cw..A&v=9x_H5VTsedtZpw6VLDi2jNw..A
)
2007 Solar Energy Industry Year in Review:
http://www.seia.glmailmx04.com/util/link.jsp?e=8zntH_yxagkWXcCLF2FA...
(
http://www.se
ia.glmailmx04.com/util/link.jsp?e=9LgEuLgJ6pH80hBXMtbU42HJpJpfu8svXeiPMjfPBp-UFSNwlTTEOJAA4XNPTZUV2&s=8323TqHFbAuTEZr5s3lv6cw..A&v=9x_H5VTsedtZpw6VLDi2jNw..A
)
House Solar Voting Scorecard:
http://www.seia.glmailmx04.com/util/link.jsp?e=0-jkh8danTnn-qkJdT6K...
(
http://www.seia.glmailmx04.com/util/link.jsp?e=1G-ss0UtvX1o-1AQMl4h...
)
Senate Solar Voting Scorecard:
http://www.seia.glmailmx04.com/util/link.jsp?e=2O_odGyrj90HXsR_lt2r...! G4gEdk9HY8G-o2yJ3w0-fvg..A&s=8323TqHFbAuTEZr5s3lv6cw..A&v=9x_H 5VTsedtZpw6VLDi2jNw..A
(
http://www.seia.glmailmx04.com/util/link.jsp?e=3HAdVkreIcQEJ1VfAFh0...
)
About SEIA:
Solar Energy Industries Association is the national trade association
of 750 solar energy manufacturers, project developers, distributors,
contractors, installers, architects, consultants and financiers.
Established in 1974, SEIA works to expand the use of solar technologies
in the global marketplace, strengthen research and development, remove
market barriers, and improve education and outreach for solar. Learn
more at www.seia.org (
http://www.seia.glmailmx04.com/util/link.jsp?e=47YNycyp8pqXJlMxZ4G3...
)---------------------------------------------------------------------------------
This email was sent to herb.stonebrook@state.tn.us You are receiving
this email because you are registered with Solar Energy Industries
Association to receive this mailing. To manage your subscription
preferences, or to remove your email address from our list, please do
not reply to this email since it will only delay your request. Instead,
please use the link below to process your subscription and removal
requests.
http://www.seia.glmailmx04.com/util/opt_out.jsp?e=7dj4Jpyu1bzFDgrz2...
Solar Energy Industries Association
805 15th Street NW
Suite 510
Washington, DC 20005
UNITED STATES
From the email:
Whatever you feel about today's passage of the Federal Government's Emergency Economic Stabilization Act of 2008 (a.k.a. Bail Out or Rescue Plan), the great news for U.S. citizens is that it included extension of the 30% Federal Solar Tax Credits and removed the $2000 monetary cap for residential solar installations! Tennessee is already the largest producer of solar panels (Sharp Solar Energy Solutions in Memphis, TN) and another solar supplier, BigFrogMtn is in Chattanooga. Read below for more!
If you are a business, and you are interested in putting the sun to work for you on your roof-top or on your grounds, please contact me.
Sincerely,
Harry G. Paris
ISA Oak Ridge Section Program Chairman
www.GeorgeParisCo.com
Toll Free: (800) 699-0601 / (800) 831-0127 FAX
Local: (865) 966-2141 / (865) 966-3172 FAX
Cell Ph: (865) 250-1638
----------------------- Forwarded Message -----------------------
FOR IMMEDIATE RELEASE
October 3, 2008
Federal Solar Tax Credits Extended for 8 Years, US Poised to Become
Largest Solar Market in the World
Industry Leaders Forecast Dramatic Growth in the U.S. Solar Market by
2016 with Extension of Credit
WASHINGTON * Today, by a vote of 263-171, the U.S. House of
Representatives passed historic legislation that extends the 30-percent
federal investment tax credit for both residential and commercial solar
installations for 8 years. This landmark legislation is part of H.R.
1424, the Emergency Economic Stabilization Act of 2008,designed to
address the U.S. financial crisis. It is the most significant federal
policy ever enacted for the solar industry. President Bush has vowed to
sign the bill into law. The Senate passed the bill on Wednesday night.
*This bill is a major step in ou! r long journey toward energy
independence and ensures that solar energy will be a significant part of
America*s energy future,* said SEIA president Rhone Resch. *This
long-term extension of the solar tax credits will create a domestic
solar industry with hundreds of thousands of jobs while providing clean,
affordable, carbon-free energy to millions of American families,
businesses, and communities.*
*On behalf of the 60,000 Americans employed by the solar energy
industry, we would like to thank Leaders Reid and McConnell and Senators
Baucus, Grassley, Cantwell and Ensign for their dogged support of the
solar tax credit extension. In the House we are thankful to Leaders
Pelosi, Hoyer, Boehner, and Blunt, and Chairman Rangel, Ranking
Republican McCrery and Rep. Camp among many others who have long worked
to bring solar energy to the mainstream. These leaders have broken
through partisan politics and have provided a bright future f! or solar
energy in the United States,* said Resch
*By passin g this bill, Congress has finally given the solar energy
industry *policy certainty* that will attract investment, expand
manufacturing and lower the cost of solar energy to consumers,* said
Roger Efird, SEIA chairman and president of Suntech America, a leading
Chinese solar power manufacturing company. *This will allow companies
like mine to move forward with expansion plans to serve the growing U.S.
market.*
*This bill puts the sun to work for every American,* added Resch.
*And by 2016, we expect solar energy to be the least expensive
source of electricity for consumers.*
The solar investment tax credit (ITC) provisions will:
· Extend for 8 years the 30-percent tax credit for both residential
and commercial solar installations;
· Eliminate the $2,000 monetary cap for residential solar electric
installations, creating a true 30-percent tax credit (effective for
property placed in service afte! r December 31, 2008);
· Eliminate the prohibition on utilities from benefiting from the
credit;
· Allow Alternative Minimum Tax (AMT) filers, both businesses and
individuals, to take the credit;
· Authorize $800 million for clean energy bonds for renewable energy
generating facilities, including solar.
The solar tax credits were originally enacted in the 2005 and have
created unprecedented growth in the U.S. The amount of solar electric
capacity installed in 2007 was double that installed in 2006.
*Over the last 2 years, these tax credits have turned the solar
industry from a small, cottage industry into an economic engine for
America. Electricians, plumbers, roofers and construction workers can
now get back to work. These jobs are the backbone of the American
economy and the solar industry is creating them at a time when they are
needed the most,* said Resch.
According ! to a new economic study by Navigant Consulting, Inc., the
8-year ex tension of the ITC will create 440,000 permanent jobs and
unleash $325 billion in private investment in the solar industry. This
study did n
ot factor in elimination of $2,000 monetary cap on the
residential credit, so the actual job creation and investment could be
even greater.
*This is a big boost for the residential market in particular,
allowing homeowners to contribute to our nation*s energy
independence,* said Efird. *It also opens the floodgates for
building large, utility-scale solar power projects that need longer
timeframes to complete.*
To date, there are 27 such utility-scale solar power projects totaling
5,400 megawatts of power in various stages of development; most were on
hold due to uncertainty surrounding the expiring tax credits.
Because solar energy components are manufactured near their markets,
this extension will create manufacturing and installation jobs in all 50
states. The states that wil! l enjoy the largest economic boost are
California, Florida, Arizona, New Mexico, Nevada, New Jersey,
Massachusetts, New York, Oregon, and Washington.
Similarly, the economies of Pennsylvania, Michigan, Ohio and the rest
of the Great Lakes region will grow significantly as a result of the
extension. This area of the country has suffered greatly from a huge
decline in jobs in the automotive and traditional manufacturing
industries.
According to the same study, more than 28 gigawatts of electricity will
be produced from solar energy by 2016 * enough to power more than 7
million homes.
*Success has not come easy. It required a strategic campaign that
included dedicated SEIA staff, a committed board, and active membership
all focused on one goal. It took seven votes in the House and 10 votes
in the Senate, but in the end, Congress came through. This effort has
established SEIA as a major energy player on Capitol Hill,* sai! d
Resch. *We have a lot of opportunity in front of us and will be b ack
next year to work on critical issues such as transmission
infrastructure, renewable electricity standards, and combating global
warming.*
###
Contact:
Monique Hanis, 202-682-0556, ext. 4, mhanis@seia.org (
mailto:mhanis@seia.org )
Jared Blanton, 202-682-0556, ext. 96, jblanton@seia.org (
mailto:jblanton@seia.org )
Mark Sokolove (Tiger Communications), 703-302-8382, mark@tigercomm.us (
mailto:mark@tigercomm.us )
Background Resources:
9.15.08 Navigant Consulting, Inc. *Economic Impacts of Extending
Federal Solar Tax Credits*:!
http://www.seia.glmailmx04.com/util/link.jsp?e=0-jkh8danTnn-qkJdT6K...
Consulting Report 9.15.08.pdf (
http://www.seia.glmailmx04.com/util/link.jsp?e=1G-ss0UtvX1o-1AQMl4h...
Consulting Report 9.15.08.pdf )
H.R. 1424 Bill Summary:
http://www. seia.glmailmx04.com/util/link.jsp?e=2O_odGyrj90HXsR_lt2roFsdG4gEdk9HY8G-o2yJ3w0-cvg..A&s=8323TqHFbAuTEZr5s3lv6cw..A&v=9x_H5VTsedtZpw6VLDi2jNw..A
(
http://www.seia.glmailmx04.com/util/link.jsp?e=3HAdVkreIcQEJ1VfAFh0...
)
H.R. 1424 Full Bill Text:
http://www.seia.glmailmx04.com/util/link.jsp?e=47YNycyp8pqXJlMxZ4G3...
(
http://www.seia.glmailmx04.com/util/link.jsp?e=5rawdfBlylmgFNRgaGa9...
)
Background on the ITC:
http://www.seia.glmailmx04.com/util/link.jsp?e=6fVN3cfCsv93ixjEuWNZ...
(
http://www.seia.glmailmx04.com /util/link.jsp?e=7dj4Jpyu1bzFDgrz26G82_fASBphN8Pw9ISU-XcFJt5TJarXf4DwQDOPGFeSl50Jy&s=8323TqHFbAuTEZr5s3lv6cw..A&v=9x_H5VTsedtZpw6VLDi2jNw..A
)
2007 Solar Energy Industry Year in Review:
http://www.seia.glmailmx04.com/util/link.jsp?e=8zntH_yxagkWXcCLF2FA...
(
http://www.se
ia.glmailmx04.com/util/link.jsp?e=9LgEuLgJ6pH80hBXMtbU42HJpJpfu8svXeiPMjfPBp-UFSNwlTTEOJAA4XNPTZUV2&s=8323TqHFbAuTEZr5s3lv6cw..A&v=9x_H5VTsedtZpw6VLDi2jNw..A
)
House Solar Voting Scorecard:
http://www.seia.glmailmx04.com/util/link.jsp?e=0-jkh8danTnn-qkJdT6K...
(
http://www.seia.glmailmx04.com/util/link.jsp?e=1G-ss0UtvX1o-1AQMl4h...
)
Senate Solar Voting Scorecard:
http://www.seia.glmailmx04.com/util/link.jsp?e=2O_odGyrj90HXsR_lt2r...! G4gEdk9HY8G-o2yJ3w0-fvg..A&s=8323TqHFbAuTEZr5s3lv6cw..A&v=9x_H 5VTsedtZpw6VLDi2jNw..A
(
http://www.seia.glmailmx04.com/util/link.jsp?e=3HAdVkreIcQEJ1VfAFh0...
)
About SEIA:
Solar Energy Industries Association is the national trade association
of 750 solar energy manufacturers, project developers, distributors,
contractors, installers, architects, consultants and financiers.
Established in 1974, SEIA works to expand the use of solar technologies
in the global marketplace, strengthen research and development, remove
market barriers, and improve education and outreach for solar. Learn
more at www.seia.org (
http://www.seia.glmailmx04.com/util/link.jsp?e=47YNycyp8pqXJlMxZ4G3...
)---------------------------------------------------------------------------------
This email was sent to herb.stonebrook@state.tn.us You are receiving
this email because you are registered with Solar Energy Industries
Association to receive this mailing. To manage your subscription
preferences, or to remove your email address from our list, please do
not reply to this email since it will only delay your request. Instead,
please use the link below to process your subscription and removal
requests.
http://www.seia.glmailmx04.com/util/opt_out.jsp?e=7dj4Jpyu1bzFDgrz2...
Solar Energy Industries Association
805 15th Street NW
Suite 510
Washington, DC 20005
UNITED STATES
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