Banks are more ready than ever to invest in solar, according to Obama. “We’ve got banks like Connecticut’s Green Bank and private banks like Goldman Sachs ready to invest billions of dollars in renewable energy,” he said. “The Treasury Department and IRS are making it easier for renewable energy companies to operate and attract investment.”
That’s an area that at least one solar CEO said still needs work. “Solar energy and energy efficiency are natural allies in propelling a low carbon future in the United States and combatting climate change, but the funding mechanisms are lagging behind market development,” said OneRoof Energy CEO David Field. “This will help to remove silos that currently exist between various clean energy technologies, allowing a more holistic, full service approach that will make it easier for building owners to not only use less energy, but at the same time adopt cleaner energy generation technologies.”
Obama also announced that the administration will build on its efforts to train solar installers through the Solar Instructor Training Network. He said that program will help 50,000 people to enter the solar workforce by 2020 through community college training programs.
“The initiatives President Obama announced today will hasten America’s transition to an affordable, low-carbon future,” responded Letha Tawney, World Resources Institute senior associate of the Charge Program. “WRI’s research has shown time and time again that renewable energy can be the most affordable option for businesses,” she said.
“Smart public policies, like the solar Investment Tax Credit, have helped to create 143,000 American jobs in the solar industry, pumped tens of billions of dollars into the U.S. economy, spurred private sector innovation and investment, and helped to fight climate change,” Resch stated. He said that more can be accomplished. “Minor changes in federal contracting and Treasury regulations would allow solar to compete as a low-cost alternative on federal buildings, saving millions of dollars for taxpayers and putting even more Americans to work. We look forward to working with the President and Congress on a critically-needed, long-term energy policy, which will help to ensure future prosperity for America.”
The administration also revealed a video of the White House’s solar PV installation today. Check it out here.Tweet