ALEXANDRIA, VA – It was revealed this week that the Senate Finance Committee and the House Ways and Means Committee have launched a probe into tax incentives paid to solar companies, sending letters containing a series of questions to seven U.S. and international solar companies including Elon Musk’s beleaguered SolarCity.

“This investigation is an important step in cleaning up what has become a disgraceful abuse of taxpayer dollars in the solar industry,” said Diana Banister, executive director of Citizens For The Republic (CFTR). “The Senate Finance Committee and the House Ways and Means Committee are right to begin holding the likes of SolarCity accountable for the egregious waste of taxpayers’ money. But more must be done. CFTR is proud to continue its work in exposing the fraudulent solar subsidy network and will continue to push lawmakers in taking action against these crimes.”

Solarcity, has been propped up by more than $2.5 Billion in government subsidies, $1.5 Billion of which comes from the Solar Investment Tax Credit (SITC). The SITC is a 30% subsidy to every solar panel sold in America and was extended in last year’s Omnibus package. The credit, intended to help individual homeowners buy solar panels, instead lines the pockets of Solarcity’s executives, including Musk and his cousins, the Rive brothers.

“Elon Musk has bilked the American taxpayer out of more than $4.9 Billion in subsidies, grants, and government sweetheart deals. With that, he has produced a solar financing company that’s in financial free fall. A car company whose average vehicle sells for more than $100,000 and a rocket company that lost $118 million of cargo in one explosion,” said Banister. “It’s time for congress to stop taking money from hardworking Americans and giving it billionaires and their friends.”

Citizens for the Republic (www.CFTR.org) is a conservative 501(C)(4) grass roots lobbying organization dedicated to promoting the ideology and political philosophy of Ronald Reagan. Reagan established the original CFTR in 1977. In 2010, a group of Reagan stalwarts re-launched the organization. Its board includes Chairman Craig Shirley and Director Diana Banister.

To schedule an interview with Diana Banister, please contact Brendan Bradley with Shirley & Banister Public Affairs at (703) 739-5920 or bbradley@sbpublicaffairs.com.

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