Renewable Energy Blog
Maximizing the Solar ITC Phaseout: Lessons from Wind
Every company invested in our nation’s clean energy transition is aware that 2019 is the last year that solar energy can take advantage of the 30% Investment Tax Credit (ITC) under Internal Revenue Code Section 48.
However, the imminent ITC phaseout may be the first time some are grappling with the safe harbor rules for beginning construction. Solar developers should be wary of the reduction in ITC after this year, which drops to 26% in 2020, 22% in 2021, and 10% in 2022 and beyond, and should take time now to consider the options for their planned projects.
Click here to read the full article published in POWER Magazine.