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 | Jan 5, 2017
2018 building energy code upholds efficiency gains
Efforts to scale back efficiency requirements largely defeated.
Codes and Standards | Jan 4, 2017
Low-income housing doesn’t lower neighborhood housing values
A Trulia study contradicts longstanding fears.
Codes and Standards | Jan 3, 2017
Intelligent transportation systems have implications for designers, construction firms
Sensors and Internet of Things devices will have to be embedded in infrastructure.
Codes and Standards | Dec 15, 2016
OSHA releases safety recommendation guide for construction industry
It is said to be most helpful to small and mid-sized contractors.
Codes and Standards | Dec 14, 2016
Cities must invest $375 billion to avoid catastrophic global climate change
C40 Cities Climate Leadership Group advocates low carbon infrastructure.
Codes and Standards | Dec 14, 2016
Resilient construction techniques pay for themselves over lifetime of buildings
Spending $340,000 for resiliency would pay for itself over the lifetime of a $10 million structure.
Codes and Standards | Dec 12, 2016
Dept. of Energy launches program to advance zero energy school design
Six school districts and two states are among the first to mainstream zero energy schools.
Codes and Standards | Dec 9, 2016
California city’s plan for net zero building includes net zero water usage
Santa Monica city services building aims for highest level of sustainability.
Codes and Standards | Dec 8, 2016
WELL and BREEAM to align standards
The goal is to make it easier for projects pursuing both standards.
Codes and Standards | Dec 7, 2016
U.S. lumber industry pushes for import duties on Canadian softwood
The industry claims the product is being sold below fair market value.