The solar industry is one of the few bright spots in an otherwise struggling economy. I speak from personal experience. My solar company, Talmage Solar Engineering, Inc. has grown by more 400 percent over the last three years.
Since the recession hit, we’ve hired scores of installers, engineers and administrators and paid employees more than $1 million in wages, which helps bolster our community. In addition, our company has generated millions of dollars in taxable revenues, and we’ve spent tens of millions of dollars procuring system equipment made in the U.S by domestic manufacturers.
These wages and equipment dollars have gone to hundreds of U.S. workers supporting their families. The U.S. workers and their families have in turn used their wages to buy food, pay their mortgages and fund their education.
My company is just one of many solar businesses here in Maine that are creating jobs and making it easier for energy consumers to choose solar to power their homes, businesses, organizations, agencies and cities. As has been the case with every major source of energy we use, smart, cost-effective federal policy has played a key role in allowing Maine to realize the significant energy and economic benefits associated with the expanded use of solar energy.
One of these smart policies is the Section 1603 Treasury Program. This highly effective policy changes the timing and manner by which an existing tax incentive can be claimed to deploy solar and a host of other renewable and clean energy technologies. This simple change in timing, however, makes the financing necessary to deploy renewable energy projects available to small businesses and project developers.
The end result is growth in an industry that has allowed American citizens to regain control of the cost of their electricity and the source of their fuel. The 1603 Treasury Program offers a 30 percent grant in lieu of tax credit. It does not cost the government or taxpayers any more than existing tax incentives.
By any objective measure, the program is working, and taxpayers are getting a great return on investment. Maine’s solar industry is now home to more than 55 companies that manufacture, install, distribute and develop solar energy systems. Much of this growth can be attributed to the success of the 1603 Program.
Here in Maine, the 1603 Program has driven $480 million in private clean tech investment and $24 billion in private investment nationwide. The U.S. solar industry now employs over 100,000 Americans, which is more than double the number from two years ago. For every dollar awarded in the 1603 program more than $4 is pushed into the U.S. economy.
The ripple effect of this program reaches far into the homes of America in sectors that have suffered the most as of late. Many American electricians, engineers, accountants, lawyers, factory workers, truckers, steel workers and installers are paying their mortgages and their taxes because of this ripple effect. Millions of American citizens and businesses are also saving on their electric bills as a result of this program.
Unfortunately, the 1603 Program was allowed to expire on Dec. 31. As the economy continues to struggle, now is not the time to pull the plug on this proven, common sense policy that creates jobs and economic growth. If Congress does not act and extend the 1603 program, the growth of the solar industry in Maine will be stifled and an opportunity to create more jobs and growth will be lost.
That is why Talmage Solar Engineering and a coalition of Maine and solar companies throughout the U.S. are calling on Congress to extend the 1603 Program. Every day that goes by without this important policy in place means lost jobs and investment for Maine.
Our state has shown the promise and benefits of expanding the use of solar energy. Extending the 1603 Program will allow us to reap the significant economic and energy benefits associated with solar energy.
Kale Inoue is chief financial officer Talmage Solar Engineering, Inc., which is located in Arundel.
Here in Maine, the 1603 Program has driven $480 million in private clean tech investment
Where does this number come from?
I have a hunch it comes from a Boston company buying a few Chinese turbines, and hiring a Massachusetts crew to install them on a Maine mountain, and calling it a “Maine investment”.
And using a Michigan trucking company exclusively for transporting the monsters.
Love it
The end result is growth in an industry that has allowed American citizens to regain control of the cost of their electricity and the source of their fuel.
If by “regain control of the cost of their electricity”, you mean “choose to pay more for ‘green’ power”, then this might be true.
But outside of paying this premium, we don’t have any more control than we ever did, do we?
On site solar means you take matters in your own hands.
You buy the system . It is yours. You are green 1 watt at a time.
You sound like a GRID scale company wanting to plug in over thousands of miles….loss in transmission. bad.
After solyndra I don’t think solar power will get much support. It will work without government money if and when the time is right. Only government and rich elitest can afford to install solar systems.
“It will work without government money if and when the time is right.”
Kinda like the Oil Industry working without government money???
The oil companies get tax breaks from existing tax laws. They spend their own money on things that create millions of jobs, you can’t and never will be able to that with solar companies. Solar power is a novelty for the elites.
Wow – China is investing heavily in solar and wind.
China is planning to install 15,000 MW of new solar generating capacity by 2015.India plans to install 22,000 MW of PV capacity by 2022.
Why are these impoverished countries investing so much money in “novelty” solar?
Cuz they are smarter than US conservative elites.
yessah
China is a large producer of polysilicon, for use in first generation solar cells around the world. A byproduct of the process is silicon tetrachloride, which is normally processed and recycled at a higher cost in the developed world, is often dumped by Chinese green startups. This substance is described as poisonous, polluting, and “like dynamite”. These polluting polysilicon plants are said to be the new dot-coms in China. With proper recycling the polysilicon would cost $84,500 per tonne, but the Chinese companies are making it at $21,000 to $56,000 a ton.[5]
China is only in the the sloar business so it can sell it to foolish investors. 99% of all solar power and equipment from China is sold outside the country.
Solyndra was a victim of Chinese subsidies for its domestic solar industy.
The Chinese government financed billions of dollars worth of new massive (1000 MW per year) highly automated state-of -the-art PV module plants in China.
They flooded the market with cheap PV modules – and global PV module prices crashed – to less than $1 a peak watt.
Solyndra was not the only PV manufacturer to suffer from this.
One silver lining – at current (low and dropping) prices, everyone can afford to install solar systems.
Yessah
We can power the state with renewable energy. We can also resist moving with the rest of the world and continue to support the fossil fuel industry. How do ya like the price of heating oil? Been to a gas station lately? What a deal. Lets just keep drilling.
Then you should be advocating for clean, affordable, renewable hydro power. Instead the “green” left only advocates for the most expensive, unreliable power sources. A suspicious person might think that the left wants to drive Mainers out of the state so they can have a personal playground.
Yes lets dig out all your records and audit. Lets see if what you say is true. In the record it should show all your manufacturing buddies here in the states, all your local employees here in Maine, your local hardware suppling the nuts and bolts your fleet of trucks, and so on. Let’s see it. Put your reputation where your mouth is.
Explain to me what solar photovoltaic has to do with oil drilling.
Just another businessman pimping for his subsidy.
well said
I support any form of energy that can survive without subsidies