The solar industry is anticipating tax credit extension after the election of Joe Biden into the oval office

The solar industry is anticipating tax credit extension after the election of Joe Biden into the oval office

The Solar Energy Industries Association is looking forward to extending the tax credit since it is one of Joe Biden’s agenda for the energy sector. The head of SEIA, Abigail Ross Hopper, explained that this strategy is their primary concern that they wish to witness its implementation. She added that this move would stir economic growth in the energy sector after an imbalanced atmosphere created by the coronavirus pandemic.

Additionally, the Solar Energy Industries Association is hopeful that the Biden administration can overturn the Trump administration’s negative regulations to frustrate their efforts in exploiting renewable energy. Nevertheless, the industry can operate with these measures since they have a one-year lease, after which they will become ineffective and can resume their operations as planned.

Industry pioneers and supporters of Joe Biden are pushing for the implementation of his promises as operational policies. Furthermore, activists have advised the president to sever all ties with cabinet members championing fossil fuels’ utilization. On the other hand, oil and gas companies are in dire need of the president slumping the switch to clean energy to give them time to align with the new regulations.

Elsewhere, the solar industry is pressing for the quick removal of policies that support the purchase and utilization of ICE vehicles, terming them as catalysts for utilizing fossil fuels. Hopper added that the solar energy industry’s growth rate is slow compared to the rates they had prepared to witness.

SEIA centers its strategies to wipe out the fossil fuel emissions on the investment in clean energy resources, the revival of the electricity markets to link with renewables, and the induction of policies suppressing fossil fuels’ utilization.

The association terms tax credit extension as the endorsement of incentives on energy storage technology, leasing lands to support renewable energy infrastructure development. These strategies will accelerate the switch to clean energy at affordable costs.

Hopper emphasized that the tax credits on solar energy and other renewables will resolve the energy industry’s problems. Moreover, fuel price fluctuations will be a thing of the past once the energy storage technology takes shape in the industry.

The problem is that Trump has not conceded defeat, which could spark heated debates over solar energy bills’ approval. The Congress members whose loyalty lies with Donald Trump will use any means to suppress the acceptance of these bills unless they concisely agree to support them. To conclude, Hopper is uncertain that Joe Biden will do much to alleviate the trade space problem since time is limited to make any changes. 

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