Solar energy boom sparks new jobs, tax revenue

Solar power generated more than half a million jobs in 2017, according to the US Bureau of Labor Statistics, with an estimated total of $1.8 billion in annual economic activity.

The report was released on the day the Trump administration unveiled a sweeping overhaul of tax policy, which includes sweeping cuts to the corporate tax rate and the estate tax.

The Solar Foundation, which tracks solar employment, said that more than 600,000 jobs were created between January 2017 and March 2018.

“The solar industry has been a pillar of the US economy since the dawn of time, and we continue to see the power of this sector expand and prosper,” said Scott Braga, Solar Foundation’s chief economist.

“We’re seeing solar energy grow at a robust pace and, more importantly, that solar jobs are growing at a high level, while other jobs are going the way of the dodo.”

Solar jobs have been a cornerstone of the American economy since its inception.

The US Bureau on Jobs and the Economy has estimated that the solar industry employs more than 1.5 million people and contributes $16.6bn to the economy each year.

The Trump administration has proposed a sweeping tax cut that would reduce the corporate rate to 25% and slash the estate taxes from 39.6% to 25%.

It also proposed a doubling of the standard deduction to $12,000 and the child tax credit to $1,000.