On his first day in office, President Trump signed an executive order pledging to “unleash American energy.” Yet, well before that promise, the solar and energy storage industry was already leading the charge.
As Abigail Ross Hopper, the Solar Energy Industries Association’s President and CEO, aptly said in a statement after the inauguration, “Solar, now a $60 billion industry, is adding more new capacity to the U.S. grid than any other fuel source amid the largest increase in electricity demand since World War II.” In addition, we are witnessing an American solar manufacturing boom. Solar Energy Industries Association (SEIA) has reported, American solar module factories can now produce enough to meet nearly all demand for solar in the U.S.
As America’s energy demand skyrockets—fueled by the growth of manufacturing, data centers, cryptocurrency, and artificial intelligence—a strong and supported clean energy industry is more important than ever before. However, this progress, which has driven economic growth across all states, created hundreds of thousands of jobs, and advanced our nation’s energy independence, is now at risk.
Targeting the Inflation Reduction Act (IRA) has become central to House GOP majority proposals to offset the costs of extending the 2017 Tax Cuts and Jobs Act (TCJA), better known as the ‘Trump Tax Cuts’. Indeed, a menu of options prepared by House Budget Committee Republicans provides a look at what Congress is considering as they assemble a package of tax cuts and other priorities for early 2025. Included in the list of options is the vaguely worded “Repeal Green Energy Tax Credits.”
How far this repeal effort goes—and its impact to American clean energy incentives like the ITC, the continuation of ITC adders, and incentives for domestic manufacturing—will depend on what the American public, business leaders, Congressional Republicans, and the President are willing to defend or accept.
At CleanCapital, we know what’s at stake—not just for our business, but for the entire clean energy sector and the millions of Americans it supports. We know that the certainty of solar and energy storage investment tax credits has a direct impact on our collective ability to invest in a future of American clean energy that will support the energy needs of Americans.
We know that these incentives have enjoyed a history of bipartisan support. We know that these incentives are the backbone of America’s energy leadership, driving over $60 billion in private investment, accelerating domestic manufacturing growth 5x since 2022, and creating a more resilient grid, which is instrumental in building American energy dominance.
We know that not everyone in our industry can afford to invest in policy and that it’s easy to assume your trade association has your interests covered. But while organizations like the SEIA have been tirelessly building coalitions and support in Washington D.C. to defend our industry, Congress also needs to hear directly from businesses. They need to hear the impact stories and about why American clean energy incentives are important to your business and local economy.
CleanCapital is calling on business leaders across the solar and energy storage industry to get active, get engaged, and heed SEIA’s call for action. A simple call or visit to a congressional office for a conversation with a member or staffer to share impactful, real, stories about the work you are doing in their community goes a long way.
Here are steps you can take today:
This is a critical moment for America’s energy future and it’s time for us to be heard. The solar and storage sectors are leading the way in building a resilient, affordable, and scalable energy system that benefits all Americans. To sustain this progress, we must act and protect the American clean energy incentives that have made it possible. As Members of Congress have told us, the most persuasive way to advocate for the ITC is to show up and demonstrate its value within their individual districts.
Join us in this fight! Register for our upcoming webinar and learn more.
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