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Renewable Energy Tax Credits News Briefs - November 2015

The Solar Energy Industries Association (SEIA) released a report Sept. 15 that predicted that substantially more solar generating capacity will be constructed in the United States, and a major industry downturn will be avoided, if the federal solar investment tax credit (ITC) is extended at its current level. “Solar Impact Analysis: How an Extension of the Investment Tax Credit Would Affect the Solar Industry,” was commissioned by Bloomberg New Energy Finance (BNEF). According to BNEF, the ITC decrease from 30 percent to 10 percent will reduce industry activity in 2017, which will result in a drop of roughly eight gigawatts (GW) in annual installations through 2017. In a separate analysis, BNEF found the United States would lose more than 80,000 solar jobs during 2017 alone without an ITC extension. The report is available at the SEIA.

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On Sept. 9, SEIA released “U.S. Solar Market Insight 2015 Q2.” The report noted that the second quarter of 2015 was a milestone quarter for the U.S. solar photovoltaic (PV) market, with cumulative installations surpassing the 20 gigawatt (GW) mark. In addition, the United States installed 1,393 megawatts (MW) of solar PV in the second quarter, making this the seventh consecutive quarter in which the U.S. added more than 1 GW of PV installations. SEIA noted 21 states have now added more than 100 MW of solar PV, but the top five states still account for nearly three-fourths of cumulative U.S. PV installations. SEIA forecasts that PV installations will reach 7.7 GW by the end of 2015. The report is available at the SEIA.

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Renewable Energy Tax Credits

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