The Talking Points. Yesterday I hosted our (FTC Solar) earnings call. While most of my commentary that you can listen/read to on our investor page were centered around the amazing reception I have gotten from the solar community, I was certainly asked about the policy outlook given the election results. So I want to share with you what I said because I think the unknown is drowning out the things we do know.
- From 2017 to 2020, solar grew from about 11GW to 19GW
- Last year solar was a $60billion market and the main generation source driving the build out for the growing demand for electricity
- The ITC has been extended while both parties have been in power, including during Trump’s first term
- Tariffs and duties have been put in place while both parties have been in control of the White House
- There are nearly 45GW worth of domestic plants plants operational and some estimates have 85% of those investments in republican congressional districts
- Last month, 18 members of the House GOP signed on to support the solar tax credits in a letter to the Speaker of the House
My point being is that solar is a bipartisan issue amongst legislators, politicians and voters. Recent polls have 87% of Americans supporting federal incentives for solar. The headlines may be grim at the moment but solar has only grown since Trump was first elected in 2016 and is poised to continue to grow now.
Opinion
Best, Yann
