Introduction of Residential Solar Parity Legislation Creates Long-Term Cost Savings Opportunities for American Families and Economic Growth

WASHINGTON, July 29, 2021 /PRNewswire/ -- A coalition of solar companies, cooperatives, and non-profits, the 25D Parity Coalition, today welcomed the introduction of The Residential Solar Opportunity Act of 2021, legislation that will provide parity for residential solar customers alongside commercial solar – a win for American homeowners, job growth for solar installers, dealers and small businesses alike.    

"We applaud Representatives Sanchez (D-CA), Terri Sewell (D-AL) and Jimmy Gomez (D-CA) for the introduction of The Residential Solar Opportunity Act of 2021.  The 25D credit is a federal residential solar energy investment tax credit (ITC) that allows the consumer to claim a percentage of the costs of a solar system for their home on their federal income taxes.  The 25D credit is a highly successful program utilized by over 70 percent of the residential solar market.  Achieving parity with commercial solar allows for residential and commercial solar to operate on equal schedules and to have long-term horizon for sustained growth in both the residential and commercial markets.  In fact, over 56 percent of all U.S. solar jobs pre-pandemic were focused on installation, construction, and development for residential solar and is one of the fastest growing jobs in the country.  Residential and commercial solar are also critical to meeting efficiency, net-zero and climate goals," said Robin Dutta, Senior Manager for Policy at SunPower and spokesperson for the 25D Parity Coalition.  "We want to thank Representative Sanchez for her leadership on this important issue."

"Homeowners play a critical role in supplying our electric grid with the renewable energy we need to eliminate carbon emissions from our economy and combat climate change," said Congresswoman Linda T. Sánchez. "As we prepare to make major investments in renewable energy, we must ensure that homeowners who want to reduce their carbon footprint have access to the same resources as corporations. This legislation would provide the same long-term value of the residential solar energy credit as the corporate solar investment tax credit under current law."

The 25 D Parity Coalition includes: SunPower Corporation, Amicus Solar Cooperative, Aztec Solar, Blue Raven Solar, Clean Energy Credit Union, Dividend Finance, Energy Toolbase, Freedom Solar Power, GoodLeap, LLC, Hanwha Q-Cells America, Jinko Solar (U.S.) Inc., Local Solar for All, Mosaic, Neil Kelly Company, Renova Energy, Sigora Solar, Solar United Neighbors Action, Sungage Financial and Sunlight Financial.

What 25D Parity Coalition Members Are Saying:

"Ensuring homeowners and renters receive the same incentives as businesses to install solar and energy storage will expand access to the electricity bill savings and resiliency benefits for those who need it most, create more good paying jobs with benefits, and further enable the country to tackle climate change head-on," said Suzanne Leta, Head of Policy and Strategy at SunPower. "This is a critical step for residential solar and energy storage customers across the country and towards a more sustainable future." 

"It's vitally important that we see improved solar policies for everyday people and homeowners.  Rooftop Solar, based in southern CA, and Amicus Solar Cooperative, applaud Representative Sanchez, as well as Representatives Sewell and Gomez, for introducing this important parity legislation which would put the residential credit on the same footing as the business ITC," said Seth Holland, Chief Executive Officer at Rooftop Solar.

"Distributed solar is proven to lower electric bills, add resiliency to the grid, and minimize carbon emissions. This bill levels the playing field to ensure that homeowners can choose how and when they install solar, and we applaud Congresswoman Sanchez's commitment to both clean energy and equity." – Scott Moskowitz, Director of Public Affairs, Q CELLS America.

"Solar is a great investment for American families and a great investment for America," said Anya Schoolman, Executive Director of Solar United Neighbors. "Solar helps people save money by taking control of where their electricity comes from. This extension will allow more families to benefit from solar energy and it will create more good-paying jobs."

"Dividend Finance strongly supports ITC parity between residential and commercial.  Parity reduces confusion by providing consistency and clarity.  Additionally, parity supports homeowner choice and American jobs." Said Eric White, CEO of Dividend Finance.

The 25D Parity Coalition is a collection of U.S.-based solar companies who manufacture, finance, sell, and install residential solar and energy storage products across the country as well as national non-profit organizations focused on solar access and equity. The coalition companies' business models are based, in part, on the Section 25D Solar Investment Tax Credit and on their ability to provide electricity bill-savings benefits to residential customers through solar and energy storage.

SOURCE The 25D Parity Coalition