Inflation Reduction Act to Extend 30% Solar Tax Credit for 10 Years
The Inflation Reduction Act benefits commercial solar energy projects in Florida by extending the investment tax credit (ITC) to 30% for the next ten years.
The government recently passed the Inflation Reduction Act to support reducing the effects of inflation and greenhouse gas emissions. This provides a historic opportunity for commercial property owners wanting to invest in solar as it extends the solar investment tax credit (ITC) to 30% for the next ten years. The nation is moving toward clean energy, and investing in solar is the best way to reach that goal. With the tax credit and accelerated depreciation, owners can see the most substantial investment returns for their solar carports and rooftop systems.
As you may recall, the solar ITC was at 26% and set to step down each year through 2024, when it would settle permanently at 10%. Now, businesses will enjoy a 30% tax credit for the cost of installed solar equipment without phasedown until 2032. The ITC decreases to 26% in 2033 and 22% in 2034. In addition to tackling climate change, saving organizations money, and creating millions of jobs, the Inflation Reduction Act can now make your commercial solar dreams a reality.
Take advantage of this historic tax credit for your commercial property in Florida contact us today for a free solar project estimate and site analysis. Call (888) 735-2641 or click here.