Two months later, the rate will be at 6%, with an additional 24% (for a total of 30%) available for meeting these new labor standards. The rate is effectively at 30% until Treasury issues guidance on new wage and apprenticeship standards. The Section 48 commercial credit can be applied to both customer-sited commercial solar systems and large-scale utility solar farms.The ITC is a 30 percent tax credit for individuals installing solar systems on residential property (under Section 25D of the tax code).SEIA also fought for successful passage of many other important tax measures in the IRA, including adding energy storage to the ITC, creating solar manufacturing tax credits, and ensuring interconnection costs are a qualified expense for solar projects under 5 MWac. SEIA has successfully advocated for multiple extensions of this critical tax credit, including successful passage of the Inflation Reduction Act in August 2022. solar industry has grown by more than 200x - creating hundreds of thousands of jobs and investing billions of dollars in the U.S. Since the ITC was enacted in 2006, the U.S.
The solar Investment Tax Credit (ITC) is one of the most important federal policy mechanisms to support the growth of solar energy in the United States.
