WASHINGTON, DC – Today, Amicus Solar – a cooperative of over 70 small, independently owned companies that design, build, and/or maintain solar energy systems – welcomed the introduction of the Inflation Reduction Act (“IRA”) of 2022. The legislation extends the investment tax incentives for solar energy long-term. The cooperative strongly supports the measure’s expansion of the credit allowing eligibility for energy storage equipment; adders for domestic content, incentives for American manufacturing of solar equipment, and crucial funding support for rural and energy communities via programs like USDA’s REAP.
“Locally owned solar businesses employ hundreds of thousands of Americans,” said Amicus Solar CEO and President Stephen Irvin. “The tax policies in the proposed legislation are a proven and efficient method to stimulate job growth in clean electricity generation and domestic manufacturing, while lowering energy bills and improving environmental health for communities across the country.”
Lloyd Ritter, Policy Director for Amicus Solar Cooperative, added, “Americans from all walks of life support clean energy policy and are overwhelmingly in favor of the incentives contained in the Act. These incentives are crucial right now to help businesses facing economic uncertainty move forward with carbon-free energy projects for citizens and consumers. Just as important, direct-pay and other resources are needed to enable more customers – at all income levels, urban, suburban and rural – to access lower-cost, clean energy.”
Investing in clean energy resources is deflationary. According to the Rhodium Group, the clean energy tax credit package and other clean energy investments in the IRA can serve as a strong foundation for cutting energy costs. A recent analysis by Rewiring America found that 41% of overall inflation was directly related to increases in fossil fuel costs. Switching to solar electricity would reduce inflation while improving our national energy security. As American families face the inflation crunch and communities continue to get ravaged by climate change, it’s more important than ever for Congress to act immediately and pass this historic legislation that lowers electricity costs, invests in domestic manufacturing, and reduces carbon emissions.
Amicus Solar is a cooperative of over 70 small, independently owned companies that design, build, and maintain solar energy systems across all 50 states, the District of Columbia, and Puerto Rico. Our 4,000 employees live in your neighborhoods and districts, and work tirelessly installing solar panels and battery systems on homes, schools, farms, municipal buildings, businesses, and nonprofits in their communities. To learn more, please visit www.amicussolar.com.