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Recap of PV America trade show
Although solar energy has no roots in Pennsylvania, the event was located in Philadelphia because it is at the heart of the Mid-Atlantic region, which has adopted some of the most progressive incentive policies and grant programs throughout the country.
As SEIA president Rhone Resch explained, “The Mid-Atlantic region is emerging as a powerhouse for the PV industry. Policy makers from Massachusetts to Washington D.C. have had the vision to enact the right policies to promote the solar industry over the past several years.”
Dave Foster of the Blue Green Alliance noted that green-collar jobs are mostly just blue-collar jobs with an environmental purpose. While autoworkers are currently unemployed, the auto glass industry has enormous potential for the production of solar panels – just as steel workers are essential in the production of wind turbines.
The biggest news in Pennsylvania, however, has been the introduction of the Sunshine program, which just became available on May 18, thanks to governor Rendell. This grant provides an immediate rebate of up to 35% of the cost of a residential solar panel system and installation.
“In some cases, when you use our rebate and the federal tax cut that the Obama administration has put forward, the cost and installation of a solar system can be cut by more than half,” said Rendell.
The federal tax cut that Rendell was referring to began several years ago, but has recently been improved upon by the Obama Administration’s “stimulus bill.” (More formally known as the American Recovery and Reinvestment Act). The ITC, or investment tax credit, is worth 30% of the cost of a solar array and installation. With legislation that is slated to take effect later this summer, an immediate lump sum grant of 30% in lieu of the tax credit will be available.
Even with all subsidies accounted for, the remainder of the investment cost is still a tremendous barrier for working and middle-class families. A loan must be secured. In many cases, the monthly payment on these loans can be set equal to the current electricity bill of the customer. This stabilizes the price paid for electricity over the next several years. With electricity rate caps expiring in 2010, the market value of a kWh is only projected to rise.
Stay tuned for more innovative solar PV options.
Source: Philadelphia Weekly Press
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Trade shows are an effective way to promote a small business and make important business connections.