"The industry has managed to make a remarkable comeback since then, thanks in no small part to Congress reinstating a federal solar tax credit in 2005. Speeding the adoption of renewables like solar was meant to limit Americans' dependence on foreign energy sources. "By developing these innovative technologies, we can keep the lights running while protecting the environment and using energy produced right here at home," President George W. Bush, a Republican, said upon signing the measure into law."
""It was a sad time," says Murray, who is president of the trade group California Solar & Storage Association. Membership to the organization (which hadn't yet added "storage" to its name) fell from 670 companies to just 37 "almost overnight," Murray says, as hundreds of businesses went under without the tax credit. "I hope that that doesn't happen to us again." (Then-California Gov. George Deukmejian also cut a state tax credit for solar around the same time.)"
Ed Murray remembers the 1985 industry collapse when Reagan ended Carter-era solar tax credits and membership plunged as many businesses failed. The industry rebounded after Congress reinstated a federal solar tax credit in 2005 to reduce dependence on foreign energy. President George W. Bush emphasized developing innovative technologies to keep lights on, protect the environment, and use domestically produced energy. The One Big Beautiful Bill Act will allow the tax credit to expire at the end of 2025, prompting home solar companies to race to complete projects. Installers face headwinds while customers hurry to claim credits, forcing industry adaptation.
Read at The Verge
Unable to calculate read time
Collection
[
|
...
]