SEIA - Solar Industry is Ready to Hire With Passage of Economic Recovery Package

Industry poised to create119,000 jobsover thenext two years

Solar Energy Industries Association (SEIA) President & CEO Rhone Resch today issued the following statement upon hearing that a bipartisan agreement was reached by Congressional Conferees on the American Recovery and Reinvestment Act of 2009:


“We applaud Congressional leaders for working swiftly to find a compromise economic recovery bill that can quickly stimulate our failing economy. President Obama has issued bold challenges to America: create jobs immediately and invest in our future. This bill appears to meet both goals.


“The solar provisions in the bill will allow us to begin hiring, create growth opportunities for small businesses throughout the country and keep the economic engine going. We expect to create 67,000 jobs in 2009 alone and a total of 119,000 jobsover the next two years, putting Americans back to work installing solar panels, manufacturing components and constructing solar power plants.


“Three provisions in the bill are critical for solar:


Renewable Energy Grant Program: Offers Dept. of Energy grants equal to 30 percent of the cost of solar projects started in the next two years, including large-scale utility projects. This is a critical alternative to solar tax credits that are not functioning as Congress intended in the current economic climate.


Loan Guarantee Program: Creates a new, streamlined loan guarantee program to support financing of renewable energy systems, including solar energy technology.


Manufacturing Investment Credit:Creates a 30-percent investment tax credit for facilities engaged in the manufacture of renewable energy property or equipment.”