“No one likes to have the rug pulled out from under them. No matter who you are or what you do, certainty in today’s business world isn’t just nice to have, it’s a necessity,” recently wrote Steven Lichtin, managing director at Advantage Capital and CEO of Advantage Renewables, in an op-ed published in N.C. Political News. Advantage Capital invests in affordable housing, clean energy, and small business deals in every state, and provides tax-advantaged financing for clean energy developers and sponsors Advantage Renewables, which finances and develops utility-scale solar projects.
In the op-ed, Lichtin recalled joining other members of the American energy sector in welcoming the letter from Senators Thom Tillis (R-NC), Lisa Murkowski (R-AK), John Curtis (R-UT), and Jerry Moran (R-KS) to Majority Leader John Thune advocating for clean energy tax credits.
In the letter, the senators emphasized the importance of maintaining stability for businesses already relying on these credits. America has seen significant investment flow into the energy and manufacturing sectors, mainly because of the current tax provisions. The senators argued, “Many American companies have made substantial investments in domestic energy production and infrastructure based on the current energy tax framework. A wholesale repeal, or the termination of certain individual credits, would create uncertainty, jeopardizing capital allocation, long-term project planning, and job creation in the energy sector and across our broader economy.” As the country works to bring back domestic manufacturing and reshore supply chains, the Republican legislators pointed out that eliminating these incentives might undermine national objectives and slow economic progress and job creation.
In his op-ed, Lichtin expressed his agreement: “Senator Tillis was right — a repeal of the current tax credit framework would create mass uncertainty, jeopardize capital allocation, upend long-term project planning, and slash job creation in the energy sector and across our entire economy.”
However, he acknowledged that, with the U.S. House’s passage of its reconciliation bill, which takes an ax to the credits, “Senator Tillis’ warnings may soon become reality.” Specifically, the Section 48E Clean Electricity Investment Tax Credits, which, he explains, “my company and many others have relied on to justify investing billions of dollars for the security of American energy, will be completely dismantled. To be blunt, this is a complete repeal of the credits we have invested billions in, effective 60 days after enactment of the bill, and it places the future of a booming and innovative industry at risk.”
The solar industry is not the only one that has relied on the technology-neutral Section 48E tax credit; the rollback of the credit would also injure biogas, energy storage, and wind power companies.
Photo Courtesy Advantage Renewables
It’s about business, Lichtin argued. He points to recent findings by the Solar Energy Industries Association (SEIA) on the national impact of a rollback of these tax credits: $220 billion in lost solar and storage investments and 145,000 gigawatt-hours (GWh) of lost solar generation by the decade’s end. Around 300 factories would shutter across the country’s clean energy supply chain, contributing to more than 300,000 lost current and future jobs. 86,000 of those are in the solar manufacturing sector.
Lichtin notes that his company, in reliance on these tax credits, has already invested more than $2.5 billion across the U.S. to deploy more than 1.5 gigawatts of utility-scale solar and energy storage.
He also pointed to Climate Power’s estimates of how the Investment Tax Credit has benefited North Carolina, particularly. As of 2025, the tax credits have led to $20.44 billion in investment in the state, creating 17,148 new clean energy jobs. He added, “As someone born and raised in this state, I’ve seen firsthand what we can accomplish. It is no surprise to me that the Tarheel State has become a clean energy powerhouse within the U.S. North Carolina consistently ranks among the top states for business, which is a testament to the pro-growth policies and incentives that continue to attract investment and drive innovation in our state.”
Lichtin wrote, “Regardless of where you stand on renewables, the situation is clear; this is not about ideology, it’s about business. A thriving industry that has invested heavily into American-made energy and created countless, high-paying American jobs is on the verge of being upended.”
Photo Courtesy Advantage Capital
He added that America’s energy security, and therefore its national security, would be damaged by repealing the tax credits: “Consequently, it also risks America’s position as a global energy leader. Keeping our position as the most free and innovative country in the world demands an all-of-the-above energy policy, where renewables play a significant role. Taking this asset class out of the mix weakens our national security and will likely increase everyone’s electricity bills.”
Lichtin thanked Sen. Tillis for supporting the clean energy tax credits thus far: “Senator Tillis and his colleagues know what is at stake. For that, I sincerely thank them.” Finally, he concluded the piece by asking the senator to keep fighting for the tax credits and, therefore, fight for American businesses and security: “I have an honest request for Senator Tillis: stay the course. For the sake of our industry, for my team members who are your constituents, and for the high-paying jobs and billions of dollars of capital investment at stake — not just in North Carolina, but across the entire country — please don’t pull the rug out from under a thriving industry. I urge you to continue advocating for and defending an all-of-the-above energy policy that strengthens domestic energy production, bolsters security and grid resilience, and supports job creation.”
