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…