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At this time the U.S. Division of the Treasury released final rules for the Part 48E technology-neutral power Funding Tax Credit score (ITC).
Following is a press release from Abigail Ross Hopper, president and CEO of the Photo voltaic Vitality Industries Affiliation (SEIA):
“The US should undertake an all-of-the-above power technique to satisfy surging demand for electrical energy throughout the nation. This tax credit score is crucial for driving investments in American-made power tasks throughout a variety of applied sciences, notably photo voltaic, which is including extra capability to the power grid than some other gasoline supply.
“American photo voltaic and storage corporations are investing tons of of billions of {dollars} to construct power tasks that energy our nation, together with main infrastructure like information facilities and manufacturing vegetation. The technology-neutral power tax credit score offers the long-term coverage certainty corporations have to put money into U.S. power innovation and that, in flip, creates a stronger basis for our power safety in addition to hundreds of well-paying jobs.
“Over the following 5 years, the U.S. photo voltaic and storage business will add greater than 200 GW of latest capability to the grid, almost doubling its present dimension. This progress is delivering an financial and jobs growth throughout the nation and creating the circumstances for the huge progress we’re seeing in American photo voltaic manufacturing.
“Critically, this tax credit further incentivizes solar and storage projects to use U.S.-made components like solar modules, trackers, and batteries. Attempts to revoke these rules will only make it easier for China to win the race for global solar market dominance while killing American jobs and much needed economic opportunity. “We urge lawmakers to protect these tax credits to drive job growth and continue to buildout American-made clean energy.”
Information launch from UNTIL.
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