Renewable Energy Tax Credit News Briefs – January 2019

Thursday, January 10, 2019

The Solar Energy Industries Association (SEIA) made a statement Nov. 7 on the 2018 midterm election results. Abigail Ross Hopper, SEIA’s president and CEO, said in a press release that this election proved that voters and elected officials of both parties recognize the tremendous benefits that solar brings to the economy, environment and the reliability of the grid. She added that voters want the government to do more to grow solar energy in the U.S., and that SEIA looks forward to working with all of the new and returning governors and members of Congress on policies that will expand solar markets, grow jobs and make solar’s economic benefits available to more consumers and businesses.

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SEIA announced Nov. 13 that solar now costs less than coal and natural gas, according to a report from financial firm Lazard. The report, “Lazard’s Levelized Cost of Energy Analysis–Version 12.0,” states that solar energy is more cost effective than traditional power sources, even without tax subsidies. The levelized cost of utility-scale solar is now as low as $36 per megawatt hour and the report states that solar prices are falling faster than any other energy source, including other renewables. Solar prices dropped 88 percent over the past nine years, including a 13 percent drop in the past year, according to the new data. The Lazard analysis explores the levelized cost of energy and states that solar power is the cheapest technology in much of the Southwest, and, based on updated data, also in the eastern and northern regions of the U.S.

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