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 inor installation of solar power technology, Stabenow’s office notes.Under the Solar Manufacturing Jobs Creation Act, equipment andfacilities used to manufacture solar power technology would be added tothe 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," saidSolar Energy Industries Association President Rhone Resch in astatement of support for the bill. "But we’ve fallen behind Europe andAsia because we didn’t have the right policies in place.
"Byextending and expanding the solar manufacturing tax credit, we’ll havethe support necessary to compete with other countries and continuecreating jobs in the solar industry," Resch continued.