
Federal ITC Extended for 2 Years
Some great energy-related news coming out of Congress! The spending bill – which was signed into law just yesterday – includes a two-year extension of the Investment Tax Credit (ITC) at the current 26%, rather than decreasing yet again at the end of this year. The ITC has spurred huge amounts of private investment in renewable energy. This is a big win for renewables! The tax credit was originally 30% of the total installed system cost. The ITC was due to step down in 2021 to 22%. This was part of a planned phase out of the credit, which was negotiated several years ago when the credit was extended. Eventually, the residential ITC will expire (in 2024) and the commercial ITC will remain at 10% (as of 2024). It's important…