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Under Bush Administration 2001-2009

The Business Energy Investment Tac credit is a United States federal policy introduced in 2005 under the Bush administration to promote the implementation of green energy sources through a 30% federal tax return in both residential and commercial projects. Individuals and companies were able to apply to the ITC to receive credits for investments in green energy technologies including solar, fuel cell and wind energy technology The ITC has been extended multiple times, most recently in 2015 through a multi-year extension that will maintain the 30% return up until 2019, afterward decreasing to 26% until 2020 and 22% until 2021. After 2021, commercial credits would reduce to 10% and 0% for residential projects. The Solar Energy Industries Association has attributed stability in the growth of solar energy industries in the U.S. to the implementation of the ITC since 2006 Since the implementation of the ITC, the U.S. solar industry has experienced growth in implementation of solar technology, mainly due to the rapidly decreasing overhead costs as the solar industry was spurred to production and development through the ITC. The solar industry is projected to employ over 420,000 individuals by 2020- nearly double of the 260,000 solar workers in 2016- and contribute $30 billion to the United States economy annually.