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Solar power generation in the U.S. is on the rise with an added 7.3 gigawatts (GW) of total installed capacity in 2015. Demand for solar is projected to increase as much as 119% in 2016. Some believe that growth in the U.S. solar market is primarily influenced by federal and state subsidies and tax credits, such as the Solar Investment Tax Credit (ITC). The ITC is a 30% federal tax credit for residential and commercial solar projects available through 2019. Until recently, state incentives have also impacted the growing U.S. solar market. Nationwide, states have started rolling back tax credits… [more]
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President Obama’s fiscal year 2014 budget, released April 10th, contains many of the energy initiatives previously outlined in his Energy Blueprint. Programs such as the Race to the Top energy efficiency challenge and the Energy Security Trust are included, along with slight adjustments to the enacted budgets of the primary agencies that shape energy policy – the Department of Energy, the Department of the Interior, and the Environmental Protection Agency. Specifically, the DOE budget would see total funding growth of 8%, with funding for energy efficiency and renewable energy increasing 40%. The DOI budget would increase 4%, and include an… [more]
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