Today's announcement cuts through red tape and provides much-needed clarity to developers ready to build out solar projects in underserved areas.

WASHINGTON, D.C. - In response to the President's planned remarks to expand markets for solar energy and energy efficiency in Las Vegas tonight at Sen. Harry Reid's Clean Energy Summit, Rhone Resch, president and CEO of the Solar Energy Industries Association (SEIA) released the following statement:

"Property Assessed Clean Energy (PACE) financing is a simple, cost-effective way for Americans to take ownership of their energy use and generation. These actions by the Administration clear the way for communities to generate their own power, and stabilize the local grid, by providing a simple financing mechanism for homes and businesses to go solar. Today's announcement cuts through red tape and provides much-needed clarity to developers ready to build out solar projects in underserved areas. This is truly a key piece in the puzzle, empowering Americans looking to take control of their own energy.

"Today, as the fastest-growing source of renewable energy in America, solar thrives because of the hard work and innovation of its 174,000 workers. When smart policies, like PACE, cut through market barriers and inefficiencies, the winners are American homeowners and small business owners who can now choose affordable solar energy. Today's win-win announcements strengthen our nation's security with clean, reliable, domestic renewable energy while driving billions of dollars in private investment into communities that need it most."