SEMI to Congressional Leadership: Extend the Solar Tax Credit Now
SEMI recently urged the leadership of the U.S. Senate and House of Representatives to make an extension of the commercial investment tax credit (ITC) for solar energy a top priority. In a letter to the congressional leadership, SEMI North America President Victoria Hadfield made the case for passing the credit before Congress adjourned.
Text of SEMI letter to congressional leadership:
Dear Majority Leader Reid, Minority Leader McConnell, Madam Speaker Pelosi, and Minority Leader Boehner:
Solar energy jobs and investment in America are at stake. As you know, the commercial investment tax credit (ITC) for solar energy expires at the end of 2008 and Congress has yet to pass an extension. There is a very limited window of opportunity to enact legislation that would extend the ITC and we would like a long term extension of eight-years. I urge you to make this a top priority for Congress to ensure an extension is passed before Congress adjourns for the year.
Semiconductor Equipment and Materials International (SEMI) is the global industry association serving the manufacturing supply chains for the microelectronic, display and photovoltaic industries. We have nearly 800 member companies in the United Sates and over 20 percent of our membership is involved in the manufacturing of equipment and materials to produce solar energy.
The commercial ITC for solar energy makes it possible for companies to invest their solar energy manufacturing facilities and projects in the United States. With these investments come jobs. If extended, the solar energy ITC is expected to create almost 40,000 more jobs and $8 billion in investments (in 2009). Furthermore, as you know, tax policies are a key factor for companies when they are deciding where to invest. Other nations have very generous incentives for solar energy and are leading in investment in this area. Now is the time to extend the ITC for solar energy. Failure to do so will cause America to fall further behind and ensure that these investments are made overseas.
America is at a critical point for solar energy investment. Due to the uncertainty of the ITC, many plans for U.S. solar energy facilities and projects have been put on hold. The United States will be a user of solar energy, but we should be a manufacturer of the technology as well. At a time when America’s energy independence is more crucial than ever, it is imperative that Congress pass an eight-year extension of the commercial ITC for solar energy before it expires at the end of the year.
President, SEMI North America
Posted Oct 13, 2008