The countdown to 2011 was particularly tense for the US Solar Energy Industries Association (SEIA) as they awaited news out of Washington regarding an important piece of solar energy legislation.
But the group, which represents over 1000 solar energy businesses, looks set to have a happy new year with President Barack Obama recently signing tax legislation into law that extends the Department of Treasury Section 1603 program for one year.
In November 2010, Energy Matters reported on SEIA concerns the scheme, which was due to expire on the 31st December 2010, would cause widespread damage to uptake of commercial solar power systems. The program has been critical in allowing the solar industry to grow by over 100 percent in 2010, create enough new solar capacity to power 200,000 homes and provide work to more than 93,000 Americans.
“It took a year of tireless effort from the entire solar industry and our champions in Congress to get an extension of the 1603 program,” said SEIA CEO Rhone Resch.
“President Obama and our bipartisan champions in the Senate and House recognize that the solar industry is one of the fastest growing industries in our country, and this extension will create tens of thousands of new jobs for Americans.”
The program was created by the American Recovery and Reinvestment Act (Section 1603) to provide commercial solar installations with a cash grant in lieu of the 30 percent solar investment tax credit (ITC ).
“This is a great day for America’s solar industry. With an extension of the 1603 program now in place, the solar industry can continue its record growth, creating new career opportunities for Americans in all 50 states in 2011,” Mr Resch said.
