As of August 16, 2022, the passing of the Inflation Reduction Act brings a wealth of tax incentives to encourage commercial solar growth and expansion. The ITC credit has returned to its original 30%. Alongside newer tax credit incentives, such as domestically resourced materials at 10% and geographically identified low income zones, companies may have the opportunity to yield another 10% in credits.
Another new feature of the IRA allows for nonprofit entities to take advantages of the 30% ITC credit in the form of a direct payment.
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