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 | Aug 22, 2019
Multimedia app identifies construction hazards
Researchers say program will reduce injuries, save lives.
Codes and Standards | Aug 22, 2019
Cities take action to keep cool as climate heats up
Initiatives include cool streets, cool roofs, and broader urban tree canopy.
Codes and Standards | Aug 22, 2019
5G expected to give a boost to construction technology
Virtual reality, Internet of Things, robotics, and drones will all benefit from enhanced data flows.
Codes and Standards | Aug 15, 2019
New edition of Building Code Requirements for Structural Concrete available
American Concrete Institute document includes major technical changes.
Codes and Standards | Aug 13, 2019
Coaching pays off for new managers
Study finds increased engagement and readiness for new roles.
Codes and Standards | Aug 12, 2019
New curtain wall design guidelines released
AAMA document includes mandatory language, optional language, and detailed technical commentary.
Codes and Standards | Aug 9, 2019
Cities modify density zoning to spur more affordable housing projects
Solutions include eliminating single-family zoning and allowing taller apartments in higher-density zones.
Codes and Standards | Aug 8, 2019
More designers focusing on acoustic properties of buildings
Recognition that structures should be acoustically satisfying.
Codes and Standards | Aug 7, 2019
Illinois law makes all single-occupancy restrooms gender-neutral
All must comply by January 1.
Codes and Standards | Aug 6, 2019
New technology, aligning training with local trends among keys to workforce development
Construction industry must also invest in training, recruiting high school students.
