You are here: Home » Business In Europe » Europe Higher Education » New Study Demonstrates Considerable Work Development in 2012 from A single-Yr Extension of Successful Treasury System

New Study Demonstrates Considerable Work Development in 2012 from A single-Yr Extension of Successful Treasury System

by on July 5, 2013

Washington, DC (PRWEB) October 13, 2011

Yesterday, the Solar Energy Industries Association (SEIA) launched Financial Effect of Extending the Section 1603 Treasury Program, a report by renowned international vitality analysis firm EuPD Analysis. The report examines projected occupation growth and solar deployment associated with a one-year extension of the Segment 1603 Treasury Program.

&#13

According to the report, a a single-12 months extension would end result in the solar business supporting an additional 37,394 jobs in 2012. In addition, a 1-year extension would end result in almost 2,000 further megawatts (MW) of solar installations above baseline by 2016, adequate to energy 400,000 properties. The report also analyzed scenarios for two and five-year extensions of the system.

&#13

Much more than a hundred,000 Americans perform in the solar industry, double the amount in 2009. Solar is a verified job creator at a time when the unemployment price for the nation remains stubbornly high, mentioned Rhone Resch, president and CEO of SEIA. The 1603 Treasury Plan has been the single most powerful policy driving renewable energy development for the duration of the past two many years.

&#13

The program was developed in 2009 in the wake of the fiscal crisis, which drastically reduced the availability of tax equity financing for energy tasks. The Section 1603 Treasury Plan permits power developers to acquire a federal grant in lieu of claiming an present vitality tax credit score. The system does not create any new incentives, but alternatively simply accelerates the timing of the present credit. This resolution was made to supply the liquidity required for the further improvement of domestic vitality tasks for the duration of difficult economic instances.

&#13

The state of financial markets and the availability of tax equity are still woefully inadequate to meet demand for renewable power projects. The system, set to expire on Dec. 31, 2011, was meant to outlast the stagnant markets, which have established a lot more resilient than anticipated.

&#13

At a time when President Obama and Congress are searching for remedies for Americas jobs crisis, it would be unconscionable to enable this proven occupation-generating program to expire, Resch extra. Killing the 1603 Program quantities to a tax enhance on the thousands of modest organizations that are producing jobs in solar. The bottom line is that our capital markets are nonetheless in trouble and this system is essential right now as significantly as it was when it was designed. Allowing it to lapse would kill jobs and severely restrict the markets potential to leverage personal sector capital to finance new domestic power projects. Congress must lengthen the 1603 program to help the American economy.

&#13

Essential Factors of a 1-year extension of the 1603 Treasury System:&#13

&#13
An added 37,000 jobs would be supported by the solar power industry in 2012, a twelve percent boost in excess of baseline.&#13
o 18,000 will be directly employed by solar organizations or indirectly employed by firms that assistance the solar business.&#13

o An extra 19,000 jobs would be induced by the industrys financial exercise. &#13

The further cumulative capacity installed (2012-2016) would be about two,000 megawatts above baseline, sufficient to energy 400,000 houses.&#13
o 500 added megawatts over baseline would be set up in 2012, enough to power about 100,000 houses. &#13

About SEIA:&#13

Established in 1974, the Solar Power Industries Association is the nationwide trade association of the U.S. solar vitality market. By means of advocacy and training, SEIA and its 1,000 member organizations are constructing a sturdy solar market to electrical power America. As the voice of the market, SEIA works to make solar a mainstream and significant vitality source by expanding markets, getting rid of industry barriers, strengthening the sector and educating the public on the positive aspects of solar vitality. http://www.seia.org&#13

&#13

Background Supplies:

&#13

Economic Effect of Extending the Section 1603 Treasury Plan Executive Summary: http://seia.us/r5RIk3

&#13

Economic Effect of Extending the Area 1603 Treasury System full report: http://seia.us/nKksUH

&#13

Behind the Solyndra Headlines: Americas Solar Power Boom: http://www.seia.org/galleries/pdf/Behind_The_Solyndra_Headlines.pdf

&#13

Solar Vitality Details: Q2 2011: [http://www.seia.org/galleries/pdf/Solar_Vitality_Details_Q2_2011.pdf

&#13

Solar Power Details: Correcting Outdated Myths: http://www.seia.org/galleries/pdf/Solar_Power_Details_-_Correcting_Previous_Myths.pdf

&#13

Q2 2011 U.S. Solar Market place Insight exhibits record-setting growth of U.S. solar: http://www.seia.org/cs/news_detail?pressrelease.id=1592

&#13

See how solar is working across America: http://www.SolarWorksforAmerica.org

&#13

###

&#13
&#13
&#13
&#13
&#13

Comments on this entry are closed.