As originally published in The Post and Courier on December 31, 2017,
I want to thank Sen. Tim Scott for his leadership as a member of the conference committee in the passage of the Tax Cuts and Jobs Act of 2017.
Converting to a territorial tax system and allowing 100 percent expensing will help the solar industry and other clean energy industries in South Carolina immeasurably and help all American businesses compete abroad.
The solar industry in South Carolina has already grown tremendously following the landmark State Distributed Energy Resource Program Act of 2014. Since then, South Carolina has added nearly 3,000 solar jobs, and the potential for more seems limitless. In 2016 alone, $199 million was invested in solar energy development in South Carolina.
As Sen. Scott has been a consistent advocate for clean energy, I urge him to advocate for additional legislation that would restore the “orphaned” tax credits for renewable energy.