Breiter Planet Properties Blog

Andrew Breiter-Wu Signs the Solar Industry ITC Extension Letter to Congress

Jul 15, 2019 8:30:00 AM / by Andrew Breiter-Wu posted in Policy, United States, Politics, Finance, Andrew Breiter-Wu, Legislation, ITC, Investment Tax Credit, Solar Incentives

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Dear Members of Congress,

 

As some of the nation’s leading solar energy companies, we write to convey the importance of extending the Section 48 and Section 25D investment tax credits (ITC) for solar and other clean energy resources.

 

The ITC has a tremendous track record of spurring clean energy deployment across the country, creating nearly a quarter million well-paying jobs and driving down electricity costs for consumers, businesses and municipalities. It also has generated significant economic activity, accounting for $140 billion in private investment since its inception.

 

As you consider clean energy tax legislation, we urge you to include a multiple-year extension of the Section 48 and Section 25D tax credits before they begin to phase down at the end of this year. The residential and commercial investment tax credits will step down from 30 percent at the end of this year. The credit falls to 26 percent in 2020, 22 percent in 2021, and, in 2022, the residential renewable energy credit is eliminated, and the commercial investment tax credit drops to 10 percent.

 

As a result of these credits and greater competition in the electricity sector, more Americans have access to clean energy than ever before. The greatest solar job growth today is happening in the Midwest and Southeast, in emerging markets such as Kansas, North Dakota, Illinois, Alabama and Florida. More than 240,000 Americans work in solar energy today, a figure that has more than doubled since 2010. According to the Bureau of Labor Statistics, “solar installer” could become the fastest-growing occupation in America.

 

While this recent success has driven 50 percent annual solar growth over the past decade, solar energy can do more for the economy, especially since it accounted for only 2.3 percent of total U.S. electricity generation in 2018 and less than 1 percent of generation in 29 states. Harmful public policy changes could quickly compromise future growth. For instance, the solar industry has experienced $8 billion of cancelled or deferred investments and the loss of 9,000 jobs in the wake of federal policy changes singling out solar. That's why we're asking you to extend the Section 48 and Section 25D investment tax credits for clean energy resources and support the continued growth of solar nationwide.

 

Thank you for your continued work and leadership developing American-made clean energy. We appreciate your consideration of our views and look forward to bringing solar to more of your constituents.



Andrew Breiter-Wu

President

Breiter Planet Properties

p:(617) 334-5785  

m: (401) 954-6450

w:www.breiterplanet.com

e: Andrew@breiterplanet.com

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Dr. Solar goes from zero to 1 GW in two projects

Mar 10, 2019 9:39:44 PM / by Christian Roselund, pv magazine posted in Solar Development, Property Owners, United States, Markets, Utility-Scale PV, Business, Texas, Finance

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Dr. Miguel Oneto has developed a 682 MWdc solar power project in Childress County, Texas. The project is the second by the new developer, following a 324 MWdc project under construction nearby.

 

 

It’s a story that would only happen in Texas, where everything is a little bit bigger – including the business opportunities.

 

In August of last year, pv magazine reported on a 240 MWac / 324 MWdc solar power project that broke ground in northern Texas. A couple of months later, the developer reached out to start a conversation with us about the next project he was developing, and gave us a bit of a background story.

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