Solar Energy Lobby Calls For Extending Obama's Stimulus Grants for Solar Power

The head of the Solar Energy Industries Association (SEIA), the trade association that advocates for the the solar energy industry, said Wednesday that the solar industry is “rock-solid” and that a program included in President Barack Obama's 2009 economic stimulus law that provides federal grants to the solar energy industry should be extended. Under current law, the stimulus program is set to expire at the end of this year. SEIA CEO Rhone Resch also said it would be a “huge mistake” to blame the entire industry for the problems at Solyndra, Inc. Resch held a briefing with reporters to address the impact of extending the Section 1603 Treasury Program, which was a part of President Barack Obama's $825 billion economic stimulus law. The program “allows the owner of commercial solar property to receive a 30 percent grant, in lieu of taking the solar Investment Tax Credit,” according to SEIA. As of June 29, the Section 1603 Treasury Program had awarded 2,657 grants totaling $1.18 billion for more than 6,300 individual solar projects in 45 states...more