SACRAMENTO, Calif. – RealEstateRama – The California State Legislature approved a two-year extension of a property tax exclusion for solar projects, providing stability to solar companies facing significant uncertainty around project development as they work to help California meet its climate targets.
Following is statement from Rick Umoff, senior director and counsel, California, at the Solar Energy Industries Association:
“The Legislature’s action to extend the solar property tax exclusion is a critical step to ensure California remains at the forefront of America’s clean energy transition. Since the state instituted the exclusion, California’s solar market has grown to be the largest in the nation, employing over 70,000 people and driving more than $70 billion into local economies statewide.
“This near-term extension of the property tax exclusion will provide companies with much needed certainty to keep building solar and storage projects to help California meet its reliability and clean energy challenges.
“The solar and storage industry is grateful to Senator Hertzberg and clean energy champions in both the Senate and the Assembly for getting this done before the exclusion expires and companies take their projects to neighboring states. We’re urging Governor Newsom to sign this into law to keep critical clean energy investments in the Golden State.”
The Solar Energy Industries Association® (SEIA) is leading the transformation to a clean energy economy, creating the framework for solar to achieve 30% of U.S. electricity generation by 2030. SEIA works with its 1,000 member companies and other strategic partners to fight for policies that create jobs in every community and shape fair market rules that promote competition and the growth of reliable, low-cost solar power. Founded in 1974, SEIA is the national trade association for the solar and solar + storage industries, building a comprehensive vision for the Solar+ Decade through research, education and advocacy. Visit SEIA online at www.seia.org and follow @SEIA on Twitter, LinkedIn and Instagram.