The Case for the Solar Investment Tax Credit (ITC)

  • The tremendous success of the Investment Tax Credit for solar energy projects exemplifies the importance of stable policy for the private sector and reveals a high return on public investment in solar energy in terms of economic benefits, domestic job creation, energy security and lower costs for consumers.
  • In 2012, the U.S. solar industry installed more than 3,300 megawatts (MW) of solar capacity – an increase of 76% over 2011 – and currently employs nearly 143,000 American workers.  The average cost of a completed PV system dropped by 24 percent over the past year, and costs continue to fall.
  • In the face of a sluggish economy, the ITC provides market certainty for industry to continue making long-term investments in solar energy projects, U.S. manufacturing facilities and supply chain expansion.
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