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Tax Credits Bring Expensive Solar Panels To DC Public Housing

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Steve Birr Vice Reporter
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Officials in Washington, D.C., are giving tax incentives to Elon Musk’s struggling green energy company to install solar panels on public housing properties throughout the District.

SolarCity, Musk’s foray into renewable energy, will provide solar panels and job training in exchange for tax credits on their panels. The agreement to install solar panels with the D.C. Housing Authority (DCHA) marks a first for the District’s public housing properties. DCHA says the panels will help them achieve future sustainability and cost savings, reports Washington City Paper.

“This is just another piece of the many energy efficiency projects we are taking on,” DCHA Executive Director Adrianne Todman said in a statement. “The savings we will see from having these solar panels will be used to reinvest in our sites.”

SolarCity, which relies heavily on government subsidies to function, has yet to generate positive profit earnings on an annual basis. Combined, Musk’s companies have benefited from roughly $4.9 billion in government subsidies. SolarCity shares have been ravished this year, swinging from highs above $50 per share to as low as $18 per share. (RELATED: Elon Musk’s Companies Down Billions In 2016)

Installations for the D.C. properties begin in May and officials say they may add additional properties to their list. Currently, SolarCity will put panels on just nine DCHA properties across the District. SolarCity will also provide job training for customers of the DCHA.

“These are sustainable jobs to support our customers and their families,” Todman said in the statement.

SolarCity faces regular criticism for relying heavily on the government to stay in the marketplace. SolarCity CEO Lyndon Rive says he expects the company to grow 40 percent in 2016 and generate profits for the first time.

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