Schumer: Solar tax credit extension to benefit Buffalo plant

BUFFALO, N.Y. (WIVB) — Appearing in Buffalo Tuesday, Sen. Charles Schumer announced the extension of a federal solar tax credit that would benefit a solar power plant being built in the Queen City.

SolarCity is expected to create nearly 3,000 jobs and be fully operational in 2017. The facility is to be located at Riverbend in Buffalo. Schumer says he urged Congress to extend the tax credit.

“The extension of this tax credit is a win-win for clean energy and new American jobs at companies like SolarCity,” said Schumer. “This critical tax credit – as well as the new rule that will enable companies to take advantage of this incentive when they begin construction – will help power up thousands of jobs in Western and Upstate New York,” said Schumer. “I was proud to fight hard to secure this provision for our businesses, which will allow companies like SolarCity to create good-paying jobs as they build a clean energy economy and contribute to the regional economy for years to come.”

The solar Investment Tax Credit (ITC), a federal 30 percent credit, was set to drop down “to 10 percent for businesses after 2016,” according to Schumer’s office.

Solar energy accounts for less than one percent of U.S. electricity production, but is showing rapid growth, according to Schumer’s office.

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