Solar tax credits are set to expire nationwide at the end of 2016. The federal Investment Tax Credit (ITC) at that time will be reduced from 30% to 10% for residents that qualify and wish to go solar unless Congress votes to extend the tax credits.
Awesomely, Bakersfield California is the first city in the U.S. to pass a resolution that urges Congress to extend the tax credit. It comes as no surprise that first city to vote yes on the extension comes from California, a state that currently produces more than 50% of the United State’s solar power.
In an interview SEIA President Rhone Resch stated, “Solar is big in Bakersfield, with more than $120 million invested in the city in the first half of 2015 alone. Tonight, we saw an unprecedented display of solar leadership at the local level. It’s clear the Bakersfield City Council understands how vital solar and the ITC are to their city, their state and to America as a whole.”
The 5 to 1 vote is the first of its kind in an effort to continue to bolster everyone’s ability to have a solar powered home. Since 2010, over $400 million has been invested on solar installations in Bakersfield. That has earned the city the rank of second in net-metered solar installs for the state.
With enough solar energy installed in California to power nearly 3 million homes, the solar revolution continues to grow, and if the tax credit is extended, there is no limit to what California can achieve in the field of green energy.