Inflation Reduction Act

The 1,000 inverters will be deployed at Summit Ridge’s projects across Illinois and Virginia starting in Q1 2025.

Arevon said that the transaction made use of the Inflation Reduction Act’s (IRA) tax credit transferability scheme.

As the solar industry continues to grow and evolve, module blending can offer practical solutions for reducing project cost, particularly as antidumping and countervailing duties (AD/CVD) tariffs could be applied to Chinese products and US domestic content is incentivized, writes Burns & McDonnell.

Wood Mackenzie and the CCSA expect the US community solar sector to add 7.3GW of new capacity in the next five years.

Data released this week by American Clean Power Association (ACP) showed that, since mid-2022, US$500 billion of investment has been planned for clean energy production and generation projects in the US.

Competitive deal processes are rising in the US tax credit transfer market for clean energy technologies, according to Crux.

US firm Sunnova has reported reduced losses in the second quarter of 2024, with losses falling to US$79.7 million.

The “American Tax Dollars for American Solar Manufacturing Act” was introduced yesterday by a bipartisan group of senators.

Crux said that the tax credit transferability market has “outpaced expectations” from when the Department of Treasury released guidance on the scheme in June 2023.

US solar manufacturer First Solar has opened its new research and development (R&D) centre in Ohio after almost two years of construction.