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Solar energy Investment Tax Credit (ITC) for year-end

As a result of the scheduled phasedown of the ITC, solar energy developers and investors are on a tight timeline to determine whether they want to begin construction on projects in their pipeline before the end of 2022 to take advantage of the 26% ITC rate. Taxpayers should keep in mind that contractors and equipment may be difficult to secure in time to meet the year-end beginning of construction deadline. Understanding key considerations of the phasedown puts organizations in a better position to make decisions.

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INDUSTRY NEWS

 

President Biden suspends tariffs to spur solar projects as investigation continues

Biden has said that his administration would not impose any new import tariffs on solar power equipment for up to two years as the Commerce Department conducts an ongoing trade probe. Additionally, the White House has framed the announcements as a bid to boost solar manufacturing in the US at a time when efforts on the Hill to pass tax credits, including incentives targeting US solar manufacturing, remain stalled. What does it mean for current and future projects?

 

Study shows that distributed wind energy could bring clean power to millions of American households

Conducted by the National Renewable Energy Laboratory (NREL), the study found that if deployed correctly, the distributed wind energy could deliver more than 1,400 gigawatts across the country. While it is possible, there are many factors to take into account. Learn more about the study and how it can influence future renewable energy projects in the US.

 

Maine can reap the benefits of solar energy tariff suspension

As President Biden announced a two-year tariff exemption for solar panel products from several southeast Asian nations, Maine energy officials see opportunities for companies in the state. The exemption could help restart stalled projects and help get new projects off the ground. See how it may impact Maine’s solar energy growth.

 

Net metering in New Hampshire opens up energy avenues for Concord

A new law passed last August enabled many communities to expand their net metering offerings, including Concord, which can now advance a large hydropower project that will generate 4.6-megawatts. The law will help Concord receive about $100,000 in financial credits annually for 18 years, and will also help the city reach its goal of 100% renewable energy by 2050. Gain insight on the law, net metering, and the value of distributed energy resources.

 

Have questions?

Contact our renewable energy team

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