The 2021 Solar Investment Tax Credit (ITC) was scheduled to step down to 22% this year, but will stay at 26% after Congress struck a last-minute bipartisan deal on a major energy bill within an omnibus package to fund the federal government.
The legislation provides a two-year extension of the solar Investment Tax Credit (ITC) and additional funding for research and development, including on soft costs critical to distributed energy deployment. It also includes support for more access to federal lands for renewable energy projects.
Under the legislation, the solar ITC will remain at 26% for projects that begin construction in 2021 and 2022, step down to 22% in 2023, and will be further reduced to 10% in 2024 for commercial projects. The residential credit will end in 2024.
The bill also provides loan guarantees for projects that deploy innovative emission-reducing technologies, and establishes new programs to accelerate the transition to clean energy. The legislation includes fossil fuel and nuclear research and development funding, but it shifts funding parity toward renewables.
Related Stories
Codes and Standards | Nov 20, 2018
OSHA publishes updates to crane operator certification requirements
Long-delayed rules accept certifications by type or type and capacity.
Codes and Standards | Nov 19, 2018
Guide offers understanding of elements that create successful multi-floor communal spaces
CTBUH technical document analyzes how to approach tall urban habitat.
Codes and Standards | Nov 16, 2018
2018 International Green Construction Code released
Updated version helps governments streamline code development and adoption.
Codes and Standards | Nov 15, 2018
New versions of DOE’s EnergyPlus engine and the OpenStudio software development kit released
New offerings resolve over 70 bugs and offer new features.
Codes and Standards | Nov 14, 2018
Obsolete safety standards may have been used in cleanup of former naval shipyard
San Francisco redevelopment site work may have been racked by fraud.
Codes and Standards | Nov 13, 2018
New York City’s new construction safety requirements are delayed
Some contractors say they weren’t ready for ‘massive initiative’.
Codes and Standards | Nov 9, 2018
Cities have multiple strategies to reduce parking requirements
Each community has to find its own mix of solutions.
Codes and Standards | Nov 8, 2018
Denver replaces green roof mandate with cool roof option
Less costly light-colored roofs can cut project costs by about 1.5%.
Codes and Standards | Nov 7, 2018
New report addresses sound transmission of wood-framed assemblies
AWC document provides empirical sound transmission model.
Codes and Standards | Nov 6, 2018
AIA releases 13 new and updated contract documents
Includes new Contractor-Subcontractor Master Agreement.