In 2009 the American Recovery and Reinvestment Act was passed in order to reverse the “Great Recession.” The economy recovered relatively quickly. Up until the Coronavirus Pandemic the economy was rolling. It was as good as ever. Now, we have record numbers of unemployment filings, businesses downsizing, and a gloomy anticipation for the future. Congress is currently in talks for a second stimulus bill, but there was no money allocated towards Solar Energy investment in the first bill, and there have been no signs that Congress will be investing and rebuilding with Solar in the second stimulus package. This is even after the SEIA, Solar Energy Industries Association, reported that over 600+ Solar Companies signed off on a letter that urged Congress to act on saving the Solar Industry.
If Congress does decide to act and invest in Solar Energy like they did in 2009, it could instantly help the economy. Americans are being asked to social distance and stay at home as much as possible. This consequently leads to higher energy, utility bills. A great way to offset that rise in cost is to make it easier for homeowners to switch to Solar Energy.
In 2009, $90 Billion dollars of the 800+ Billion dollar stimulus was spent on the Solar Industry. Programs, incentives, tax credits, and direct loan investments that backed large scale renewable energy developments were all funded by the $90 Billion dollars. Ten years later, Sammy Roth for the LA Times reported that as a result in that investment, “an estimated 250,000 people have been employed…Over the last decade, U.S. wind power capacity has tripled. Solar photovoltaic capacity has grown by a factor of 76. Costs have fallen so dramatically that solar and wind power are now two of the cheapest sources of electricity generation.”
With so much uncertainty, Region Solar wants to be a staple for getting back to normal. We want to provide our community with the education and resources needed to make an educated decision about installing solar to your home. That’s why we focus on providing the best customer service, with a tailored approach to understanding your needs. If you’re interested in learning more about what solar can do for your home, please visit our website and connect with our team to get the conversation about solar started.