WASHINGTON, D.C. – (RealEstateRama) — In an effort to continue his push to incentivize clean energy and job growth, Representative Jared Polis (D-CO) introduced the Solar Expansion Distributed Generation Exponentially (EDGE) Act. The bill will promote investment in small scale distributed generation solar projects, especially residential installation, across the U.S., and encourage long-term job growth in the solar industry.
“Investing in clean energy technology has been a top priority of mine and many Coloradans,” said Polis. “We’ve been fortunate to develop and implement innovative policies that support solar-friendly regulations and projects in our state, but many areas across the U.S. are restricted from large scale projects that require expensive transmission infrastructure. The Solar EDGE Act will be a boost for the American solar industry, revamp America’s leadership in a technology we created, and promote a lift in clean energy investment. ”
“Clean energy champions like Rep. Polis know that renewable energy and energy efficiency are pathways to creating American jobs and driving economic growth,” said Bob Keefe, Executive Director of Environmental Entrepreneurs. “Anything that helps keep clean energy growing in America is not just good for our economy, it’s good for our environment.”
Prices for solar power in homes and businesses are becoming more accessible and affordable for average consumers every day. While the cost has decreased nationwide, only a few states, including Colorado, have enacted laws supporting reasonable financing options, to further reduce utility rates. The Solar EDGE Act will create a short-term surge of investment in small distributed generation solar systems, which allows companies to reach states that have been left out of this critical clean energy platform. Solar EDGE will make solar energy competitive with current utility rates in more markets, overcoming state disparities and producing long-term job growth in the solar industry.
“This bill expands one of the most successful federal policy tools for spurring the deployment of rooftop solar across the country,” said Joe Montoya, Co-Owner & Residential Sales Director at Namasté Solar. “We applaud and support the Solar EDGE bill which will no doubt make going solar more accessible for millions of American homeowners.”
“With effective policy and plenty of American ingenuity leading the way, our country is undergoing a massive shift toward renewable energy that is good for our communities, our economy and our planet,” said Adam Browning, Executive Director of Vote Solar. “We thank Congressman Polis for his tremendous leadership in accelerating our nation’s use of safe, reliable and healthy homegrown solar power.”
Specifically, the Solar EDGE Act will:
Provide a two-year 20% increase to the current Investment Tax Credit (ITC) for small solar systems (under 20kW), creating an aggressive, short‐term acceleration of distributed generation for residential and commercial consumers, accelerating job creation and technological advancement.
Maintain US competitiveness in the solar industry by growing our domestic solar market, ensuring that the US is not overshadowed by solar powerhouses like China, and Germany.