H.R. 2 was introduced to the House of Representatives yesterday, a landmark $1.5 trillion proposal to rebuild America’s infrastructure. It should be voted on before July 4.
In addition to $300 billion to build and fix roads and bridges, the bill also invests in programs to reduce carbon pollution. Rep. Peter DeFazio (D-Ore.), chairman of the House Transportation and Infrastructure Committee, has commented that the “Moving Forward Act” applies the principles of the Green New Deal.
Many solar and storage provisions are included in the bill, including:
- 5-year extension of Sec. 48 and 25D of the Investment Tax Credit (ITC) at 30% through 2025, followed by a two-year phase-down (2026 at 26% and 2027 at 22%)
- Direct pay proposal at 85% for section 48 qualifying projects for the same amount of time as the PTC/ITC credits exist
- Storage ITC
- Proposals to incentivize investment in clean energy for low income and underserved communities
- Tax credits for clean energy manufacturing
- Grid modernization provisions
- Funds for transmission planning with a requirement to account for renewable energy generation
- Grant program for solar installation in low-income and underserved communities
- Funds for renewable energy installation in community institutions, such as schools
- Improvements to public lands renewable energy development programs
The above information was provided by industry advocacy group Solar Energy Industries Association.
“We look forward to working with bipartisan leaders in the House and Senate on policies that help put American solar workers in a position to lead economic recovery from the COVID-19 economic crisis. We know that with the right policies in place, including many of those proposed in the Moving Forward Act, clean energy can add hundreds of billions of dollars in investment and perhaps a million or more jobs back into the economy,” said Abigal Ross Hopper, president and CEO of SEIA. “Close to 90% of Americans support policies to promote a clean energy future. We will continue to work with Congress to push for policies that help restore lost solar jobs and resume our industry’s progress in the Solar+ Decade.”
As the House moves to vote within the next two weeks, SEIA is requesting that solar companies add their names to a letter to Congress. Those interested can fill out a form here.