Encouraging President Biden and committee chairs to incorporate long-term clean energy tax incentives in federal budget reconciliation legislation, solar manufacturers and executives wrote a letter to them today.
Tax incentives for clean energy would help lower the cost of solar energy for homes and businesses.
The letter outlines how the legislation will support increased output, bring back jobs, and encourage investment in important sectors for solar manufacturers. Global environmental regulations on the use of fossil fuels have made the debate over where to source electricity—which has never been more important—more urgent than it is right now due to ongoing geopolitical concerns.
In response, to increase domestic solar manufacturing, the Biden Administration has made it a point to meet with the solar industry and look for long-term policy solutions. The Build Back Better Act should be sent to President Joe Biden’s desk, the Coalition urged the Senate to write in a letter last week. Biden urged Congress to enact clean energy incentives and stressed their necessity earlier in his State of the Union speech. The Solar Energy Manufacturing for America Coalition applauded President Biden for his efforts to support the expansion of the American industry.
clean energy tax incentives schedule
Vice President Biden has since changed the regulations that the Trump administration had announced a year ago, which included tariffs on imported solar products. In order to expedite the shift to clean energy, he seeks to strike a balance between the objectives of domestic manufacturing. Lowering tariffs would be a good place to start, even though they are not the ideal solution for all parties. To get the sector back on track, he might need to take further action. For the time being, the American solar industry will only suffer as a result of government action.
It is important to remember that solar manufacturing in the United States is still far from reaching its potential, even as the Biden administration collaborates with the sector to find long-term policy solutions. Due to the nation’s reliance on solar panels manufactured abroad, the US market requires a competitive edge. The message from the President needs to be understood clearly. President Biden should keep working to keep the industry competitive and healthy over the next four years if he is unable to assist it.
While the tariffs were originally imposed during the Trump administration, they have since been reduced to a much lower level. While the current tariffs do not directly harm solar manufacturers, they do hamper the ability to produce solar panels in the U.S. and can hurt the U.S. economy. The Biden administration’s choice will therefore have a significant impact on the industry’s future. For American consumers, this is a win.
To encourage the expansion of the solar industry in the US, a comprehensive manufacturing policy is required. The industry’s supply chain will be able to grow by several billions of dollars thanks to the March 2018 passage of the Solar Energy Manufacturing for America Act. Ultimately, laws that promote the generation of renewable energy can help the solar manufacturing sector. The industry will expand with the support of deployment and manufacturing incentives. These regulations will not change anything, but they will increase the visibility of American solar producers.
Even though the US renewable energy market is expanding quickly, obstacles like tariffs may endanger its survival. The trade disputes and supply chain interruptions that are impacting the US solar industry will persist in their effects on the industry’s growth. It shouldn’t, however, stop the industry’s expansion. As an industry, it plays a major role in advancing the nation’s use and production of renewable energy. Attracting investors to solar technology will be made easier by its solid foundation.
The sector is expanding quickly, but with the correct clean energy incentives in place, it could achieve even greater success.
It is a pivotal time for the US solar industry. Most domestic manufacturing facilities have closed due to the collapse of the solar industry. All throughout the nation, there have been calls for the revival of the clean energy manufacturing sector in the United States. Millions of jobs will be generated by this bill and support the domestic solar industry. According to SEMA Coalition estimates, the bill will result in an increase of 30 GW in domestic solar production in the United States by 2025 and will create 18,000 direct jobs and 60,000 indirect jobs, with a $15 hourly minimum wage.
Delta Electronics, the largest switching power supply company in the world, founded SEMA, a nonprofit, in 2004. Two Taiwanese businesses, Delta Electronics and the Industrial Technology Research Institute of Taiwan, founded it. DelSolar aims to generate clean and renewable solar energy while also benefiting the environment and reaping the many other advantages that solar power offers. The words “solar” and “delta” are combined to form its name. Offering customers solar energy that is both inexpensive and clean is its goal.
Letter sent to President Biden to include clean energy tax incentives
Source: SEIA News Item
