IRA Archives - Solar Power World

House votes to repeal Inflation Reduction Act in debt limit negotiations While unlikely to pass the Senate, it's a sign the House may keep working to curb IRA incentives.

Kelsey Misbrener — Thu, 27 Apr 2023 14:09:07 +0000

On April 27, the U.S. House of Representatives passed the Limit, Save, Grow Act of 2023, a Republican bill that would repeal the majority of the clean energy incentives enacted by the Inflation Reduction Act (IRA). SEIA remains confident that a repeal of the IRA will not succeed in this Congress, but cautions the solar…

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While unlikely to pass the Senate, it's a sign the House may keep working to curb IRA incentives. appeared first on Solar Power World.

Energy community bonus credit delivers lucrative project sites to solar developers and tax dollars to towns

Kelsey Misbrener — Wed, 26 Apr 2023 12:01:52 +0000

The “energy community” tax credit adder in the Inflation Reduction Act presents a potential renewable windfall to developers and could bring much-needed tax revenue to communities affected by the dissipating fossil fuel industry. Solar projects are eligible for an additional 10% tax credit adder on top of the potential 30% investment tax credit (ITC) or…

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IRS provides guidance on ‘energy community’ bonus credit in IRA

Kelly Pickerel — Tue, 04 Apr 2023 14:07:30 +0000

The Dept. of the Treasury has issued eligibility requirements for “energy communities” seeking a 10% ITC or PTC adder via the Inflation Reduction Act (IRA). The three categories of energy communities are explained in Sec. 45(y) and 48(e) of the Internal Revenue Code: 1) a brownfield site, 2) a location that has a 0.17% or…

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Solar and storage industry players launch equitable workforce training program

Kelly Pickerel — Wed, 01 Mar 2023 16:02:26 +0000

A new nationwide, equitable workforce training program has officially launched, called Building Equity in Solar Training (BEST). The program will provide skills-based training and certifications needed for a successful career in solar, energy storage and EV charging. BEST is presented by industry players GRID Alternatives, Solar Energy International (SEI), Jobs for the Future and local…

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Initial IRA low-income bonus credit plans may sideline small solar projects The program structure will make it difficult for smaller residential and commercial projects to win out, but changes are expected for 2024.

Kelsey Misbrener — Wed, 01 Mar 2023 13:00:13 +0000

The Inflation Reduction Act (IRA) included some substantial tax credit add-ons for solar projects sited in low-income communities, but the industry didn’t receive further detail on those credits until mid-February. While solar and environmental justice advocates said they appreciate the government incentivizing solar projects for underserved populations, the Dept. of the Treasury’s initial guidance left…

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The program structure will make it difficult for smaller residential and commercial projects to win out, but changes are expected for 2024. appeared first on Solar Power World.

Treasury caps underserved-community ITC adders at 1.8 GW of projects annually

Kelsey Misbrener — Mon, 13 Feb 2023 19:48:02 +0000

The Dept. of the Treasury has issued guidance on the Inflation Reduction Act (IRA)’s ITC adders for projects located in low-income or tribal communities, as well as energy communities — areas with brownfield sites or shuttered coal plants. Under the “Low-Income Communities Bonus Credit program” under Sec. 48(e) of the Internal Revenue Code, up to…

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New tax incentives may not be enough to supercharge US inverter manufacturing

Kelsey Misbrener — Wed, 08 Feb 2023 13:00:49 +0000

The Inflation Reduction Act’s incentives to jump-start U.S. solar product manufacturing have already yielded significant groundbreakings and expansion announcements for solar panel makers. Qcells, First Solar and JA Solar are just a few of the module manufacturers planning to open new facilities in the United States, even before the Dept. of the Treasury releases more…

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Guest column: We need clarity, please!

SPW — Mon, 06 Feb 2023 13:56:28 +0000

By Patrick Regan, president, Crossroads Solar Most of those involved in the solar industry applaud the climate provisions in the Inflation Reduction Act of 2022. Some of the most critical incentives apply to commercial installations, those high-consumption applications that can go a long way in reducing carbon dioxide emissions from the industrial and agricultural sectors.…

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Illinois solar contractor showcases successful apprenticeship program

Kelly Pickerel — Thu, 02 Feb 2023 12:57:05 +0000

Illinois solar contractor Rethink Electric recently began its 2023 apprenticeship program. This year’s class is its largest to date with 23 apprentices. “The Climate and Equitable Jobs Act (CEJA) signed by Gov. Pritzker in 2021 and the Inflation Reduction Act signed by President Biden in 2022 both contribute greatly to the current momentum in the…

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Burns & McDonnell gets DOL approval for solar construction apprenticeship program

Kelly Pickerel — Tue, 24 Jan 2023 12:47:53 +0000

Solar EPC Burns & McDonnell has received approval from the U.S. Department of Labor for a new construction craft labor and heavy equipment operators program in Texas intended to help address chronic shortages of skilled labor in the construction industry. The approval allows Burns & McDonnell to immediately launch a program that will enable skilled…

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How the Inflation Reduction Act will help more nonprofits go solar

SPW — Wed, 21 Dec 2022 13:02:59 +0000

By Ken LaRoe, CEO and Founder of Climate First Bank The Inflation Reduction Act (IRA) signed into law by President Biden on August 16, 2022, dedicates $369 billion to combat climate change. This landmark legislation aims to build a clean energy economy and reduce greenhouse gas emissions by approximately 40% by 2030, according to the…

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Prevailing wage and apprenticeship requirements bring new challenges to large solar projects

Kelsey Misbrener — Mon, 19 Dec 2022 13:01:40 +0000

The Inflation Reduction Act established 10 years of solar tax incentives, but added new requirements to reach the full 30% ITC for projects 1 MWAC and larger. Starting on January 30, 2023, contractors with four or more workers on a jobsite must employ apprentices for a certain number of labor-hours and pay prevailing wages to…

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The first step, not the last: Community solar after the IRA

SPW — Mon, 19 Dec 2022 13:00:10 +0000

By Bruce Stewart, president and CEO, Perch Energy After 140 years of relying primarily on fossil fuels, the U.S. has made the most serious investment in our clean energy future to date. The Inflation Reduction Act (IRA) will accelerate the clean energy transition and it has the potential to revolutionize our energy system, but we’re…

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ACORE encourages diversity in domestic solar manufacturing buildout

Kelsey Misbrener — Fri, 16 Dec 2022 14:29:54 +0000

As the U.S. renewable energy economy expands, intentional commitments for equitable economic and workforce development will be critical to achieving the nation’s just transition objectives and building a diverse domestic manufacturing supply chain. A report released by the American Council on Renewable Energy (ACORE) and BW Research Partnership identifies existing minority- and women-owned business enterprises…

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Treasury Dept. issues prevailing wage and apprenticeship guidance Enforcement will begin on January 30, 2023.

Kelsey Misbrener — Wed, 30 Nov 2022 13:06:25 +0000

The Treasury Dept. and Internal Revenue Service have announced guidance providing taxpayers information on how to satisfy the prevailing wage and apprenticeship requirements for enhanced tax benefits under the Inflation Reduction Act. The guidance was published in the Federal Register on November 30, 2022. The 60-day period in which taxpayers must begin construction of a…

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Enforcement will begin on January 30, 2023. appeared first on Solar Power World.