Sen. Debbie Stabenow, D-Mich., Sen. Robert Menendez, D-N.J. and Sen. Michael Bennet, D-Colo., have introduced the Solar Manufacturing Jobs Creation Act. The legislation will provide a tax credit to support solar manufacturing in the U.S.
Currently, a 30% solar investment tax credit (SITC) exists for the investment in or installation of solar power technology, Stabenow's office notes. Under the Solar Manufacturing Jobs Creation Act, equipment and facilities used to manufacture solar power technology would be added to the eligible property list for the SITC.
Rep. Dave Camp, R-Mich., plans to introduce the companion legislation in the House later this month, Stabenow’s office says.
"Not long ago, the U.S. was the leading global manufacturer of photovoltaic solar cells," said Solar Energy Industries Association President Rhone Resch in a statement of support for the bill. "But we've fallen behind Europe and Asia because we didn’t have the right policies in place.
"By extending and expanding the solar manufacturing tax credit, we’ll have the support necessary to compete with other countries and continue creating jobs in the solar industry," Resch continued.
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