Take advantage of the Investment Tax Credit (ITC)

Getting your Labor & Materials Costs Reimbursed is easier than you think

Organizations the file taxes receive a tax credit from investments in clean electricity from renewable sources and tax-exempt entities are eligible to receive direct payments.

• Solar PV
• Battery Energy Storage
• Thermal Energy Storage
• Fuel Cells
• Microgrid Controllers
• Geothermal Systems
• Wastewater Heat Recovery
• Qualified Biogas
• Combined Heat & Power
• Dynamic Glass

To receive domestic content bonus, 100% of steel and iron must be mined and produced in the US and 40-55% of manufactured products costs must be manufactured and produced in the US.

An Energy Community is defined by the Department of Energy as a community that includes;

1. a brownfield site
2. • an area with unemployment rate at or above the national average
   • or that has 0.17% of employment related to fossil fuels beginning in 2010
   • or 25% of local tax revenue related to fossil fuels beginning in 2010
3. or census tracts with coal mines closed after 1999 or a coal-fired power plant retired after 2009.

This bonus credit is only eligible for solar and wind projects less than 5MW. This is a competitive credit and has to be applied for and is not guaranteed.

• 10% Qualifications: located on tribal land or in a qualified low income community (≥20% poverty rate or median family income MFI ≤80% compared to state MFI).
• 20% Qualifications: project must be in a qualified low-income residential building (affordable housing project) or a qualified low-income benefit project (≥50% of electricity produced are provided to residents).

Available to Non-Profits

Organizations that don’t pay federal taxes, like non-profits or local governments, can take advantage of the tax credits through either direct payments or a transfer of credit. Tax-exempt grants or forgivable loans can be used to finance clean electricity projects. Grants may be included in the basis for the tax credits. When combined with Bonus Credits, your project could receive up to 100% of the material and labor costs associated with each project.

Take a look at the US Dept of Energy’s webpage to read all the details about this limited time program.
Our sustainability leaders at Orcutt | Winslow are happy to provide any level of assistance you’ll need to access this limited time program. Let us help you navigate the process.