Washington, DC — The Senate passed the Inflation Reduction Act, which includes long-term solar and storage tax incentives, investments in domestic solar manufacturing and other critical provisions that will help decarbonize the electric grid with significant clean energy deployment.
Also called the climate spending package, the legislation earmarks $369 billion for U.S. energy security and fighting climate change.
The following is a statement by Abigail Ross Hopper, president and CEO of the Solar Energy Industries Association (SEIA), on the Senate’s passage of this historic legislation:
“Today is a monumental day for America’s clean energy progress and global climate leadership. With the passage of the Inflation Reduction Act in the Senate, solar and storage companies are one step closer to having the business certainty they need to make the long-term investments that decarbonize the electric grid and create millions of new career opportunities in cities and towns across the country.
“This legislation is the most transformational investment America has ever made in our climate future, and we are thankful to our members, the clean energy community and every one of our solar champions in Congress for their work to get us to this historic moment. The solar industry has set a goal to account for 30% of all U.S. electricity generation by 2030, and this legislation will be a catalyst for reaching that target. Now the work can begin to build out America’s clean energy economy with historic deployment, domestic manufacturing, investments in low-income communities, energy storage, smoother interconnection, and so much more.
“The United States is poised to lead the world’s clean energy transformation while lowering costs for families. We look forward to seeing President Biden sign this bill and kick off this new era of American leadership.”