Current Events > The US might extend the solar tax credit to 30% for 10 years

(+) Yeah! (+)

https://www.pv-magazine.com/2022/07/28/us-to-extend-investment-tax-credit-for-solar-at-30-to-2032/

In a surprise victory for the solar and clean technology industries, US Senator Joe Manchin and Democrats reached an agreement on a reconciliation bill, dubbed the Inflation Reduction Act of 2022. The bill includes $370 billion in spending for renewable energy and climate measures.
One of the most impactful provisions in the bill, which can be read in full text here, is the long-term extension of the Investment Tax Credit, which has been instrumental in launching the solar industry we know today. The bill calls for a 10-year extension at 30% of the cost of the installed equipment, which will then step down to 26% in 2033 and 22% in 2034. The tax credit applies to individuals adopters of solar technology.

Unless Joe Manchin or Kyrsten Sinema mess it up. I hope this passes. It would be huge for me. The only thing is that they didn't make it refundable, so if the bill passes and the amount of taxes you paid throughout the year are less than what the 30% credit would be, then you'd just get the amount of taxes you paid back instead of the full 30% back. The remaining amount apparently can be rolled over to the next year, though.

CableZL posted...

Unless Joe Manchin or Kyrsten Sinema mess it up.

We're doomed

Bless

Dear America - there's a gigantic roof in Virginia that could use some solar panels:

https://gamefaqs.gamespot.com/a/user_image/4/3/6/AAEhCpAADgeM.jpg

Jimmy Carter was vastly ahead of the curve on this. It's just too bad it was janky 70s panels.

Fuck solar and wind, let's get nuclear power going.

runewalshPSiv posted...

Fuck solar and wind, let's get nuclear power going.

Basement nuclear.