Riggleman Visits Sigora Solar, Hears Concerns from Industry Leaders
CHARLOTTESVILLE, Va. (WVIR) - Congressman Denver Riggleman is taking some time to learn about solar energy. He took a crash course on the latest solar energy industry developments while visiting Sigora Solar in Charlottesville Wednesday.
Leaders at Sigora Solar met with Riggleman to discuss some of the challenges facing the solar energy industry. Those challenges include tariffs, new legislation, and how to keep the market competitive.
Riggleman says he will keep in mind the industry's challenges. He said he plans to look at legislation that could extend the solar investment tax credit, which lets businesses and individuals deduct a percentage of investment costs from tax liability.
If the investment tax credit is not extended, the tax liability deduction will drop by 4% in January. Kara Loeb, the chief policy and development officer of Sigora Solar, says the investment tax credit is the baseline of how the United States can go solar.
"That 4% seems like it's insignificant, it actually has a real tangible effect," Loeb said. "We've had massive tariffs be imposed on us in the past three years in the industry that has absorbed a lot of what the ITC was supposed to kind of accelerate."
Riggleman says he hopes to make energy more of a free market industry so that more solar companies are able to compete.