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Solar Tax Credit to Spur $40 Billion in U.S. Investment by 2020

  • Solar energy capacity will nearly match nuclear power fleet
  • Employment in solar industry will more than double to 420,000

A federal tax credit approved by Congress on Friday will attract $40 billion in solar investments over the next four years and more than double the number of jobs in the industry to 420,000, according to the Solar Energy Industries Association.

A five-year extension of the investment tax credit will drive U.S. solar installations to 100 gigawatts of capacity in 2020, according to the industry’s main trade group. That’s almost enough to match the country’s entire fleet of nuclear reactors.