Solar has become a ‘street-smart' investment.

WASHINGTON, DC – In response to President Obama's call to improve energy efficiency in America and deploy expansive new solar resources, Rhone Resch, president and CEO of the Solar Energy Industries Association (SEIA), released the following statement:

"In many ways, the solar commitment made today by more than 300 leading U.S. businesses, including Walmart, Apple and IKEA, is like getting a triple-A investment rating from Moody's or Standard and Poor's. Solar has become a ‘street-smart' investment. These companies are expanding their use of solar because it makes sense from both a business and social responsibility viewpoint. Having worked closely with both the Administration and the private sector to increase the use of clean, reliable solar nationwide, SEIA applauds this exciting, new initiative, and we look forward to assisting commercial businesses, homebuilders, rural co-ops, governmental entities and America's financial community in bringing more than 850 megawatts (MW) of new solar online.

"This bold initiative is part of a solar boom in America that is already taking place. Today, more than 30 utility-scale, clean energy projects are under construction, putting thousands of electricians, steelworkers and laborers to work, while helping to reduce dangerous carbon emissions. These facilities, along with rooftop solar on homes, businesses and schools, will help to generate clean, abundant energy for generations to come. What's more, innovative solar heating and cooling systems are offering American consumers, businesses and schools cost-efficient, effective options for meeting their energy needs, in addition to reducing our nation's overall energy consumption.

"Smart public policies, like the solar Investment Tax Credit, have helped to create 143,000 American jobs in the solar industry, pumped tens of billions of dollars into the U.S. economy, spurred private sector innovation and investment, and helped to fight climate change. They've also helped to make solar the fastest-growing source of renewable energy in America. But there's even more we can do as an industry. Minor changes in federal contracting and Treasury regulations would allow solar to compete as a low-cost alternative on federal buildings, saving millions of dollars for taxpayers and putting even more Americans to work. We look forward to working with the President and Congress on a critically-needed, long-term energy policy, which will help to ensure future prosperity for America."