U.S. Senator Kaine visits residential solar site to learn more about impact of ITC
Last week, US Senator Tim Kaine (VA) visited a residential solar customer’s installation after being contacted by installer Ipsun Solar to discuss investment tax credit legislation.
Ipsun CEO Herve Billiet recently wrote to Senator Kaine about extending the federal tax credit and adding an instant payment option for lower-income homeowners who may not owe enough taxes to take advantage of the credit. sen. Kaine wanted to know more and asked if he could visit a construction site to talk to the installer and real customers. SEIA CEO and President Abigail Ross Hopper and Virginia House Representative Karrie Delaney also participated in the visit to a home in Fairfax and had a candid conversation in the customer’s backyard.
According to a blog post by Ipsun Solar, Sen. Kaine asked the solar customer why he decided to install a solar + storage system.
“We get a lot of power outages and after doing some research I learned that I could get a tax credit of 26% of the full price of the system if I installed batteries and solar. I wouldn’t get the credit if I just installed the batteries Fairfax customer Jim Zuras said The Build Back Better Act, if passed, would allow for a standalone battery tax credit and an instant pay option.
Ipsun Solar employees also commented on how the tax cuts provide business predictability that allows for better scheduling and fewer layoffs.
“We have that 26% tax credit for another year, which is great, but it would help tremendously to extend it for a longer period of time, and adding that direct payment option for individuals would have a huge impact,” Billiet said. “Direct payment for businesses is nice, but it’s the individual homeowners who don’t have access to other financing methods, such as lines of credit. If individual homeowners had the option of immediately recovering the tax credit, it would make a huge difference.”
You can read more about the visit on the Ipsun Solar website.