In recent years, renewable energy in the United States has developed rapidly, and the ITC policy has played a large role.
The Solar Investment Tax Credit (ITC) policy is one of the most important federal policy mechanisms to support the development of solar and other renewable energy in the United States. As part of US President Joe Biden's $2 trillion US infrastructure employment plan, ITC has again extended the validity period of 10 years this week. The Solar Energy Industry Association (SEIA) estimates that by 2030, extending the ITC policy will increase the share of solar energy in U.S. electricity by a third.
Members who support this policy believe that the ITC policy can increase industrial and commercial photovoltaic and household photovoltaic, and reduce carbon emissions. This is an important part of green energy, which can increase employment opportunities, reduce dependence on foreign energy and improve the environment.
Holly Christie, the general counsel of Hecate Energy, explained that there are two ways to deal with ITC policies. One is to start construction at the specified time, and the other is to buy 5% of the electricity.
"The original intention of the tax credit policy is that the credit should depreciate over time. Therefore, if my project does not start this year, then as the industry starts, there will be a loss of a few percentage points."
CORIGY SOLAR's solar mounting system is cost-effective. In addition, the factory's production capacity are able to deliver in a short lead time to ensure the orderly progress of customer projects.