“ Ten % "adder" credits are also accessible for part forty eight tasks that meet wage and apprenticeship necessities.
Commercial and utility-scale tasks which have commenced construction earlier than December 31,
2023 should qualify for the 26 or 22 percent ITC if they are placed in service before January 1, 2026.
The IRS issued steerage (Discover 2018-59) on June 22,
2018 that explains the necessities that
a taxpayer should meet to determine that building of a qualified photo voltaic facility has begun for purposes of claiming the
ITC. SEIA has successfully advocated for a number of
extensions of this vital tax credit score, together with successful passage of the Inflation Reduction Act in August 2022.
SEIA also fought for profitable passage of many other important tax measures within the IRA, together with adding energy storage
to the ITC, creating solar manufacturing tax credits, and making certain interconnection prices are a professional expense for photo voltaic tasks below 5 MWac.
A tax credit score is a dollar-for-dollar reduction in the earnings taxes that a person or company
would otherwise pay the federal government. ”