THE INFLATION REDUCTION ACT EXTENDS AND MODIFIES TAX CREDITS FOR SOLAR PROJECTS

Written By Kevin McKernan

The Inflation Reduction Act includes several provisions that modify and extend tax credits for solar projects. One of the key provisions is the extension of the Investment Tax Credit (ITC) for solar energy property through at least 2033. 

  • Tax Incentives for Commercial Solar Generation 

  • Extension of ITC for Solar Energy Property 

  • New Section 48E Applies ITC to Solar Through at least 2033 

  • Prevailing Wage and Apprenticeship Requirements 

  • 10% Adder for Domestic Content 

  • 10% Adder for Energy Communities 

  • Adders for Solar in Low-Income Communities 

  • New Section 45/45Y PTC for Solar 

  • Refundable ITC for Tax-Exempt Entities 

  • Direct Transfer of the ITC 

  • Tax Incentives for Residential Solar Generation 

  • Section 25D Tax Credit for Homeowner-Owned Solar Energy Property 

  • Different Calculations from the ITC and No Enhanced Requirements or Credit Adders

This document is designed for general information only. The information presented in this document should not be construed to be formal legal or tax advice nor the formation of a lawyer/client relationship. 

For more information on this and other topics, please contact Kevin via any of the channels listed below:

📧 kevin@kmckernan.com

📞 718-317-500


Kevin McKernan
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