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Premier Renewables LLC
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Investment Tax Credit Extension for Solar

Recently the US Senate voted 65 to 33 in favor of the Omnibus Bill, which included the extension of the Investment Tax Credit for solar. For the past year, concerns for the fate of the ITC have been increasing. Many believed that without the extension, the probability of the solar industries survival would be minimal. We are so excited that the votes have turned in favor of the ITC and that it will remain at 30% through 2019!

Typically when a bill is passed, at least one party feels as though they are making a compromise. In this case, the passing of the Omnibus Bill also lifted the 40-year ban on crude oil. There are apparent concerns of whether this was the right compromise. We think it is. It is estimated that in 5 years there will be a 56 percent boost to the wind and solar industry. It is also estimated that the net will reach 37 gigawatts of new energy and solar capacity according to Bloomberg New Energy Finance.

With the ITC extension and the steady decrease in solar and wind power costs, most believe these two sources of energy will become the least expensive way to generate power in not only the U.S., but the world. The ITC is set to extend to 2019 at 30%, in 2020 it will drop to 26%, 22% in 2021, and 10% in 2022. This should provide the solar industry enough time to become a viable source of energy around the world. Here are some things we look forward to now that the ITC has been extended:

1. Steady ITC decline allows for the solar industry to plan accordingly The threat of the ITC expiration magnified the uncertainty of the solar industry, specifically regarding the major boom and bust cycles. With the gradual decline in tax credits, the industry is now able to plan for the post subsidiary era. The ITC provides the solar industry a stable, long-term incentive that will continue to reduce prices while creating jobs.

2. Ensures that renewable projects continue to create jobs If the ITC was not extended, the ITC stood to lose 80,000 jobs in 2017, and an additional 20,000 jobs related to affected industries. This would total over 100,000 jobs in America!

3. Infuses capital into the communities The construction of larger solar energy projects infuses capital into the community. Most solar companies spend money on localized labor, meals, lodging, entertainment, fuel expenses, etc. For example Premier Renewables completed a 900 kW solar energy project in Orange Cove, CA which resulted in over $75,000 spent locally in District 22 as well as over $400,000 on labor, subcontractors, electrical supplies, and equipment rentals. Premier also spent $800,000 in additional California sourced electrical materials which were out of Los Angeles and the Bay Area.

4. Grid Parity The rising electricity prices and falling solar energy costs reveal that solar is approaching grid parity with fossil fuels. Deutsche Bank has estimated that solar will hit grid parity in 36 states minimum. Lower energy bills for consumers and businesses is always a plus.

And lastly....

5. Solar energy reduces pollution.
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"Fossil fuels are here to stay, but solar energy will play a bigger role in our energy mix than many think."
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The concrete works in layers that absorb solar radiation, store rainwater, insulate the building and grow the microorganisms underneath.
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Originally shared by ****
Save the Earth,.. . . . ..... ,,
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Do you know an agricultural operation that might be interested in solar? Send us their information and we will send you to Hawaii! 

Read below for more details
www.premierrenewables.com
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