In chapter 4 of my mystery book, Dr. Deepak Belur is murdered due to the progress he and his colleagues achieved in advancing solar technology to allow electricity to displace fossil fuels.
In the real world, however, federal subsidies also help solar energy prosper in the United States. As the year 2015 came to a close, Congressional lawmakers voted to extend a federal subsidy for solar energy. This tax credit – known as the Investment Tax Credit or ITC – has been instrumental for the rapid expansion of renewable energy across America.
The December legislation permits solar companies to continue filing for federal tax credits at 30 percent of the price of solar arrays. The credits will be valid through 2019. After that the ITC will be reduced, declining to 10 percent in 2022, where it will remain.
In the real world, however, federal subsidies also help solar energy prosper in the United States. As the year 2015 came to a close, Congressional lawmakers voted to extend a federal subsidy for solar energy. This tax credit – known as the Investment Tax Credit or ITC – has been instrumental for the rapid expansion of renewable energy across America.
The December legislation permits solar companies to continue filing for federal tax credits at 30 percent of the price of solar arrays. The credits will be valid through 2019. After that the ITC will be reduced, declining to 10 percent in 2022, where it will remain.
These credits are granted to homeowners who buy solar arrays, or to solar providers like SolarCity Corp. who lease the equipment, or to those who finance commercial or industrial installations.
Home solar adoption across the U.S. has soared in recent years, thanks to falling prices for solar equipment and installation coupled with government underwriting. The Solar Energy Industries Association (SEIA) estimates that in 2015, nearly 1.6 gigawatts of solar panels had been installed on 214,000 homes across the country.
In terms of the economy and job creation, renewal of the solar tax credit should add another 140,000 jobs to this U.S. sector’s existing worker base of 200,000, according to the SEIA.
In spite of this solar subsidy, China will continue to be the largest solar market in the world, installing approximately 19.5 gigawatts in 2016. The U.S. is expected to displace Japan for second place with plans to install about 13 gigawatts of solar in 2016, which will be the best year for U.S. solar installations to date. Japan’s expected 9 gigawatts of solar installations ranks third in the world for 2016. These three countries will account for about 65 percent of global solar installations.
Home solar adoption across the U.S. has soared in recent years, thanks to falling prices for solar equipment and installation coupled with government underwriting. The Solar Energy Industries Association (SEIA) estimates that in 2015, nearly 1.6 gigawatts of solar panels had been installed on 214,000 homes across the country.
In terms of the economy and job creation, renewal of the solar tax credit should add another 140,000 jobs to this U.S. sector’s existing worker base of 200,000, according to the SEIA.
In spite of this solar subsidy, China will continue to be the largest solar market in the world, installing approximately 19.5 gigawatts in 2016. The U.S. is expected to displace Japan for second place with plans to install about 13 gigawatts of solar in 2016, which will be the best year for U.S. solar installations to date. Japan’s expected 9 gigawatts of solar installations ranks third in the world for 2016. These three countries will account for about 65 percent of global solar installations.