The RAISE the Roof bill allows solar roof installments to be included in the ITC. (Image Credit: Michael Wilson/Unsplash)
My desire for a solar roof is slowly becoming inescapable. You?
House Representatives Mikie Sherill and Bill Pascrell introduced the RAISE the Roof (Revamping Appropriate Incentives for Solar Energy) Act that revises the solar investment tax credit (ITC) to include solar roof installations. It also covers expensing roof repairs and replacement required for solar installation. Senator Jon Ossoff also introduced companion legislation in the Senate.
However, the only roofs eligible for the ITC are the ones constructed with solar panels or roofs that require a full replacement to support solar panels. Solar integrated roofs include solar tiles, solar shingles, and various solar roof products.
“We see tremendous opportunity in roofs as real estate to drive the acceleration of clean energy,” said Martin DeBono, President GAF Energy. “This bill positions existing American manufacturing resources and know-how to contribute meaningfully to a resilient path forward in our energy infrastructure.”
GAF Energy manufactures low-profile solar systems that are mounted to roof decking instead of overtopping shingles or tiles. It’s also in the process of developing a new solar roofing system that could blur the lines between low-profile systems and solar shingles and tiles correlated with Tesla’s solar roof.
According to the Solar Energies Industry Association (SEIA), “The residential and commercial solar ITC has helped the US solar industry grow by more than 10,000% percent since it was implemented in 2006, with an average annual growth of 50% over the last decade alone.”
The ITC is a 26% tax credit currently implemented for both residential and commercial properties. It stays in place until the end of 2022. Then, it decreases to 22% in 2023. By 2024, it’s expected to drop down to 10% for commercial and 0% for residential properties.
“We need millions of new solar installations to decarbonize the economy, and that starts with equal tax treatment for solar built on new home construction, manufactured homes, and existing homes,” said Abigail Ross Hopper, president and CEO of the Solar Energy Industries Association (SEIA). “This legislation will make sure that homes that have solar built into the original design are eligible for the same ITC benefits as any other residential solar installation and will extend the cost-saving benefits of solar energy to all Americans. We’re pleased to support this bill.”
Here are some fun solar facts:
- In 2018, Stanford University researchers reportedover 2 million solar panels
- By the end of Q3 2020, the U.S. installed enough solar panels to power 16.4 million homes
- At least 92.7 billion solar panels
- An average of 20 panels
- 21,250 square miles of solar panels
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