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Solar energy supporters wish to see a decade long plan to help sustainability | File Photo

Renewable energy backers call for 10-year tax credits in 'Build Back Better' plan

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As President Joe Biden and his administration finalize what is known as the "Build Back Better" plan, which is composed of $3 trillion in spending to fight climate change and enhancing infrastructure, “renewable energy backers” also are fighting for a ten-year extension of tax credits.

According to supporters of renewable energy, a long-term extension is vital to executed extensive actions needed to fight climate change.

“If you’re clear-eyed about where we are relative to where the science says we need to be, that means going big -- and part of going big is moving beyond endless cycles of short-term stop-gap measures toward a stable, predictable and long-term tax platform that puts millions of Americans back to work building a 21st Century clean energy economy,” Bill Parsons, chief operating officer for the American Council on Renewable Energy, stated.

Bloomberg Green reported that congress, last December has extended the investment tax credit used for solar projects at its existing rate of 26% for the next two years as part of a $2.3 trillion spending and coronavirus relief bill.

The solar sector argued that this will not suffice and a decade-long extension is better to achieve effectiveness.

"It can’t be a two-year investment tax credit and then move on to some other bright shiny object,” Abigail Ross Hopper, president and chief executive officer of the Solar Energy Industries Association, said in an interview, according to Bloomberg Green. “It will need to be sustained.”

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