H.R. 2 was introduced to the House of Representatives yesterday, a landmark $1.5 trillion proposal to rebuild America’s infrastructure. It should be voted on before July 4.
In addition to $300 billion to build and fix roads and bridges, the bill also invests in programs to reduce carbon pollution. Rep. Peter DeFazio (D-Ore.), chairman of the House Transportation and Infrastructure Committee, has commented that the “Moving Forward Act” applies the principles of the Green New Deal.
Many solar and storage provisions are included in the bill, including:
- 5-year extension of Sec. 48 and 25D of the Investment Tax Credit (ITC) at 30% through 2025, followed by a two-year phase-down (2026 at 26% and 2027 at 22%)
- Direct pay proposal at 85% for section 48 qualifying projects for the same amount of time as the PTC/ITC credits exist
- Storage ITC
- Proposals to incentivize investment in clean energy for low income and underserved communities
- Tax credits for clean energy manufacturing
- Grid modernization provisions
- Funds for transmission planning with a requirement to account for renewable energy generation
- Grant program for solar installation in low-income and underserved communities
- Funds for renewable energy installation in community institutions, such as schools
- Improvements to public lands renewable energy development programs
As the House moves to vote within the next two weeks, SEIA is requesting that solar companies add their names to a letter to Congress. Those interested can fill out a form here.