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 22, 2016
ConsensusDocs releases new multi-party IPD agreement and joining agreement
The documents serve as a comprehensive revision of previous IPD agreement
Codes and Standards | Jan 22, 2016
State Savings Calculator analyzes savings associated with energy codes
The calculator breaks down the cost-effectiveness of energy codes on a state-by-state basis.
Codes and Standards | Jan 22, 2016
Metal Roofing Seaming Guide published by Metal Construction Association
The free document is specifically tailored for metal roof installation.
Codes and Standards | Jan 22, 2016
Treasury Dept. will start crackdown on illicit money in luxury real estate
The move is expected to impact high-end condo development.
Resiliency | Jan 13, 2016
LEED credits on resiliency expected to influence future of building design
Post-disaster survivability is a key goal.
Codes and Standards | Jan 12, 2016
Batteries are the next step in raising sustainability standards
Battery technology will reduce electricity costs and promote a more stable, flexible grid.
Codes and Standards | Jan 4, 2016
Denver broadens its use of design reviews as construction booms
Support strong, but some wary of giving more say to review boards.
Codes and Standards | Dec 23, 2015
International Code Council approves updates based on NIST study of Joplin, Mo. tornado
Applies to schools and other high occupancy buildings.
Codes and Standards | Dec 21, 2015
Changing building codes to protect against mass shootings at odds with other safety measures
Fire and other emergencies require getting people out quickly, not locking down sections.
Codes and Standards | Dec 18, 2015
Codes should be updated to reflect lessons learned from recent extreme weather events
More can be done to boost resiliency to flooding, extended power outages.