Sorry, you need to enable JavaScript to visit this website.
Skip to main content
Home
    • Contact Panasonic
    • Save Page
    • Home
    • Green Living
    • Financial & Incentives
    • Bipartisan Bill Extends the Investment Tax Credit
    Back to Resource Center

    Bipartisan Bill Extends the Investment Tax Credit

    • Contact us
      • Twitter
      • Facebook
      • Linkedin
      • Email
    House in hand in the rays of the sun.

    Bipartisan Bill Extends the Investment Tax Credit

    The financial incentives to go solar remain intact, which is good news for homeowners looking to make the solar switch. This report by Energy Monitor Worldwide breaks down the extension of the federal solar investment tax credit. Interested in knowing more about saving money on your bills with Panasonic's EverVoltTM solar plus battery storage bundles? Let us connect you with a certified installer to get all your questions answered.

    Congress has reached a bipartisan deal that contains important emergency relief measures for the renewable energy industry, including a two-year extension of the investment tax credit (ITC) – critical to the solar power industry.

    The full legislative package combines a $900 billion COVID-19 relief package and an omnibus spending bill for 2021 with tax extenders and energy policy changes. The decision comes after the solar industry spent several months advocating for these changes.

    “With 13% of the clean energy workforce out of a job this holiday season due to COVID-19, we are grateful that lawmakers included emergency relief measures for the renewable sector in this package,” says Gregory Wetstone, president and CEO of the American Council on Renewable Energy (ACORE).

    “Extending the solar tax incentives is a bipartisan vote of support for the renewable industry and the hundreds of thousands of Americans building our clean energy future,” he adds. “These policies will help get people back to work, accelerating our economic recovery and achieving greenhouse gas emissions reductions that scientists tell us are necessary to protect our climate.”

    Construction crew installing solar panels on a house

    Under this legislation, the solar ITC will remain at 26% for projects that begin construction in 2021 and 2022, step down to 22% in 2023 and down to 10% in 2024 for commercial projects while the residential credit ends completely.

    Companies beginning construction on projects in 2021 would still have a four-year period to place their projects in service to take advantage of the ITC, with the statutory deadline for projects placed in service reset to before Jan. 1, 2026.

    “We are heartened to see Congress step up to provide Americans with some relief after our country has been mired in a public health and economic disaster,” says Abigail Ross Hopper, president and CEO of the Solar Energy Industries Association (SEIA). “The provisions that help solar workers and businesses are a result of SEIA’s tireless advocacy throughout this difficult year, and I want to thank our champions in Congress for understanding the immense economic value the solar industry offers to communities across the country.”

     

    This article was from Energy Monitor Worldwide and was legally licensed through the Industry Dive publisher network. Please direct all licensing questions to legal@industrydive.com.

    Related Posts

    Colleagues Problem Solving At Standing Desk
    Financial & Incentives

    Going solar? Seven misconceptions about solar panels clouding your judgement

    As solar power gains traction across America, shall we clarify some pesky myths?
    Learn more
    Wind turbine in winter
    Sustainability & Environment

    Spotlight cast by cold weather on renewables reveals resiliency, faster recovery

    How did solar & wind power perform during the 2021 Texas winter freeze?
    Learn more
    Woman At Home Boiling Kettle For Hot Drink With Smart Energy Meter In Foreground
    Homeowner Insights

    Smart ways to cut your utility bills

    Make your place more energy efficient and keep more money in your pocket. 
    Learn more
    Joyous Father Pushes Swings with His Cute Little Daughter on Them. Happy Family Spends Time Together one Sunny Summer Day in the Idyllics Backyard.
    Sustainability & Environment

    Shining a light on the true value of solar power

    Like we've been saying: solar power is good for you and great for Earth. Here's why.
    Learn more
    Happy family mother housewife and child   in laundry with washing machine
    Financial & Incentives

    The price of solar electricity has dropped 89% in 10 years

    Music to homeowners' ears: gains in efficiency and acceptance bring solar panel prices way down.
    Learn more
    Children using tablets plugged into a dual charger
    Financial & Incentives

    Arizona OKs home battery incentives as Green Mountain Power program shows millions in customer savings

    More good news for homeowners looking to add battery storage to their solar setup.
    Learn more
    Woman with candle at home because of power cut
    Sustainability & Environment

    Be ready for power outages with renewable technology

    With more of us working, schooling & operating businesses from home, reliable electricity is now a must-have.
    Learn more
    Production of solar panels.
    Trends & Technology

    The rise of solar module OEM and what it means for homeowners

    Why are solar module manufacturers shifting to original equipment manufacturers to make their panels?
    Learn more
    Group of friends sitting on front porch laughing
    Sustainability & Environment

    One third of Oahu homes now solar powered

    How solar energy is powering Hawaii's homes and economy.
    Learn more
    Untouched sandy beach with palms trees and azure ocean
    Sustainability & Environment

    Rooftop solar booming in Hawaii as utility launches Quick Connect

    Aloha State homeowners embrace the sun's abundant energy with a little help from their power company.
    Learn more
    Modern passive house with solar panels and white roof for energy efficiency.
    Homeowner Insights

    6 Key Benefits of Creating a Solar-Powered Home

    Has switching your home to solar power become a no-brainer?
    Learn more
    asian family with one child having fun in the woods
    Homeowner Insights

    Why you should unify your home energy system in 2021

    Purchasing the components of your solar & storage system from a single brand has its benefits.
    Learn more
    Back to Trends
     

    Thank you for your submission. A Panasonic representative will contact you.

    • About Us
    • News
    • Careers
    • Investor Relations
    • Social Impact
    • Contact Us
    • Do Not Sell My Data

    Get the Latest on Panasonic Trends

    * Indicates a required field

    Connect with us

    • Twitter
    • Facebook
    • Linkedin
    • Instagram Link
    • Youtube

    Select Country/Language

    • United States - English
    • Canada - English
    • Canada - Français
    © 2021 Panasonic Corporation of North America. All Rights Reserved.
    • Privacy Policy
    • Cookie Policy
    • Terms
    • Panasonic Global
    • Consumer
    • Industrial
    Reviewed by Accessible 360
    Reviewed by Accessible 360