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
| Jun 5, 2012
AGC’s Safety and Health Conference focuses on regulations, legislation
More than 150 industry professionals and other attendees will participate in the Associated General Contractors of America’s (AGC’s) safety and health conference July 11-13 in Washington, D.C.
| Jun 1, 2012
New BD+C University Course on Insulated Metal Panels available
By completing this course, you earn 1.0 HSW/SD AIA Learning Units.
| May 31, 2012
Proposed change in Michigan’s building code would hurt innovation, say critics
Legislation pending before the Michigan Senate would change the law that calls for building codes to be updated every three years to require an update only every six years.
| May 31, 2012
Natural gas industry opposes federal carbon-neutral construction rule
The natural gas industry and some allies are working to block a federal green building rule that was expected to be a national model for carbon-neutral construction.
| May 31, 2012
Lawsuits push the legal boundaries of green building definition
This article explores some legal issues stemming from lawsuits in which plaintiffs have charged developers with not delivering on a promised level of sustainability.
| May 31, 2012
ANSI approves Green Building Initiative’s design standard
The Green Building Initiative (GBI), a Portland, Ore. nonprofit organization, has had its new consensus-based standard for the design, construction, and operations of environmentally friendly buildings approved by the American National Standards Institute (ANSI).
| May 31, 2012
USGBC testing Minnesota buildings to see if they are living up to LEED standards
The Minnesota chapter of the U.S. Green Building Council (USGBC) has teamed up with EnergyPrint, a St. Paul, Minn. energy consulting firm, to study the energy and water use of more than 150 buildings in the state that have LEED certification.
| May 29, 2012
Reconstruction Awards Entry Information
Download a PDF of the Entry Information at the bottom of this page.
