Federal solar power tax credits have been a huge American success story, creating hundreds of thousands of jobs and tens of billions of dollars a year in clean energy investment, while avoiding hundreds of millions of tons of greenhouse gas emissions. But despite its remarkable growth, solar energy still only provides about 1.5 percent of U.S. electricity. Solar must grow far larger to help the U.S. reduce carbon dioxide emissions, an action urgently needed for climate protection.
Under current law, the 30 percent solar investment tax credit begins to phase down next year, then disappears altogether for residential consumers in 2022 and phases down permanently to a 10 percent credit for commercial operations.
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