investment tax credit

On 1 January this year, the solar investment tax credit, responsible for fuelling the rapid growth of the US market, began its decline. Cecilia Keating assesses what impact it will have.

Attempts have failed to include an extension of the solar Investment Tax Credit in a significant stimulus package adopted in the US to shelter the economy against the ongoing COVID-19 crisis.

The US domestic installer has clinched a US$95 million revolving asset-based loan facility and a private placement of US$55 million aggregate principal amount of convertible senior notes.

The US installer will use the funding to refinance a working capital facility and purchase equipment that will qualify its projects for the full ITC rate before it depreciates to 26% on 1 January.

Cecilia Keating concludes PV Tech’s end-of-year review, with a look back at Q4 2019's highlights, where bifacial modules narrowly missed being added to President Trump's broader suite of solar tariffs, free-market solar swept Europe, the world's climate priorities were put under the microscope at COP25, and sub-Saharan Africa wrestled with major energy crises.

US Congress and the White House have failed to agree an extension to the US solar Investment Tax Credit (ITC), paving the way for the credit to be cut from next month.

The chief tax-writing committee in US Congress unveiled a draft discussion paper on Tuesday that outlined a suite of tax incentives for renewable technologies.

A standalone Investment Tax Credit (ITC) for energy storage in the US holds the potential to be more immediate and impactful than any other policy, the head of the US national Energy Storage Association has said.

From bold US$16.3 trillion pledges to plans to extend the ITC to include transmission infrastructure, Democratic candidates' energy agendas are taking shape.

The utility wants to add projects larger than 5MW to its portfolio in order to achieve its target of 3GW of solar and wind in Virginia by 2022.