Lawmakers on the House Ways and Means Committee’s Subcommittee on Tax Policy have re-introduced the Growing Renewable Energy and Efficiency Now (GREEN) Act. The bill includes several key solar provisions, including a five-year extension of the solar Investment Tax Credit (ITC), and a direct pay option for large projects when claiming the ITC.
What does this mean? According to this article, it looks like the new administration is seeking to restore a 30% federal tax credit for solar customers. If the policy passes, the 30% solar tax credit would go in effect and be extended through 2025 before a step down process as seen in previous policies. No guarantees yet, but this is very promising for those looking to switch to solar energy. We will keep an eye on this one for sure.
If you have questions about solar energy for your home or business, please contact us directly.
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