Reacting to news today that the Department of Housing and Urban Development (HUD), along with the State of California, will expand financing for energy efficiency and solar energy in multifamily housing, Rhone Resch, president and CEO of the Solar Energy Industries Association (SEIA), released the following statement:

January 29, 2015

Reacting to news today that the Department of Housing and Urban Development (HUD), along with the State of California, will expand financing for energy efficiency and solar energy in multifamily housing, Rhone Resch, president and CEO of the Solar Energy Industries Association (SEIA), released the following statement:

"This is an important step toward meeting the White House's goal of installing 100 megawatts (MW) of renewable energy in federally subsidized housing. We applaud President Obama, Secretary Castro and Governor Brown for their continued commitment to energy efficiency and clean energy. These far-reaching efforts will help to create new American jobs, give local economies a big boost and help to reduce pollution. It's a huge win all the way around. But it gets even better: It will also help to save money. Clean, reliable solar energy is now more affordable than ever, with blended average system prices having declined 53 percent since 2010.

"Today, the U.S. has an estimated 20 gigawatts (GW) of installed solar capacity, enough to effectively power nearly 4 million homes in the United States – or every single home in a state the size of Massachusetts or New Jersey – with another 20 GW in the pipeline for 2015 and 2016. This tremendous growth is due, in large part, to smart, effective public policies, such as the solar Investment Tax Credit (ITC), Net Energy Metering (NEM) and Renewable Portfolio Standards (RPS). By any measurement, these policies are paying huge dividends for both the economy and environment."