Here are some important numbers that you should be aware of when it comes to the Biden Administration’s American Jobs Plan (aka, the Infrastructure Bill):
222
ITC Creations and Extensions The centerpiece of the infrastructure bill for the solar industry is the extension of the investment tax credit (ITC) for the next ten years. It is commonly understood in the solar industry that the ITC is one of the most effective, efficient ways to spur investment in solar projects. In the past, short-term extensions of the ITC have led to uncertainty as extensions are debated in Congress. A 10-year extension, with the appropriate phase-out as it reaches its later years, would add much-needed stability to the solar-project funding process and make it easier to get deals done. The solar ITC may not be the only investment tax credit in the infrastructure bill, however. The Biden Administration has proposed creating an ITC for energy storage projects. Though not directly tied to the solar ITC, a storage ITC would encourage the co-location of solar + storage projects. This arrangement would reinforce the symbiotic relationship between the two technologies and allow the solar industry to expand into even more markets.
The number of votes necessary to reach 51% of the vote in the House of Representatives. If all the
Democrats stick together, they will reach that threshold based on their slim majority.
60
The number of votes necessary to pass the bill in the Senate, unless the Democratic Party eliminates the filibuster.
In that case, it will take 50 Democratic votes with Vice President Kamala Harris breaking the tie. To pass under regular order, it will require 10 Republicans to cross party lines to vote for the bill. President Biden wants all electricity production in the United States to be fueled by clean energy by this date — a mere 15 years from now.
2035
The solar workforce will have to increase to nearly one million workers to help President
900,000
Biden reach his aggressive 2035 goal.
This number represents the investment the bill makes into
$73 billion
RE : NEW • SUMMER 2021 5 RE : NE • S
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