AMS Renewable Energy’s Post

"Attempts to revoke these rules will only make it easier for China to win the race for global solar market dominance while killing American jobs and much needed economic opportunity."

Today’s rules help lay the foundation for American energy dominance. The inverse is also true: repealing them would only help China.

NEW: The U.S. Department of the Treasury is out with final rules for the Section 48E technology-neutral energy Investment Tax Credit (ITC). "This tax credit is critical for driving investments in American-made energy projects across a range of technologies, particularly solar, which is adding more capacity to the energy grid than any other fuel source," said the president and CEO of the Solar Energy Industries Association, Abby Hopper. "Attempts to revoke these rules will only make it easier for China to win the race for global solar market dominance while killing American jobs and much needed economic opportunity." Read the Solar Energy Industries Association's full statement: https://lnkd.in/ewVixNmn

🚨 Attention, network – This is the final week to make your voice heard! 🚨 The Solar Energy Industries Association (SEIA) is circulating a critical letter urging Congress to protect solar tax credits from being repealed. We’re at a pivotal moment for the industry, with tax credits at risk of being pulled, potentially undermining years of progress in clean energy. Many incoming members of Congress have expressed interest in repealing solar, storage, and clean energy manufacturing credits. With the upcoming tax bill in the House, there’s a real opportunity for them to act. SEIA has been working tirelessly to build coalitions and support over the past two and a half years, but now it’s time for the industry to step up and make our voices heard. If you're in solar or the manufacturing side of the industry, please consider signing on to support this important cause. Congress needs to hear directly from us – the people who are building, innovating, and investing in this sector. https://lnkd.in/g7qnE2wJ

📢 New Treasury & IRS Guidance on Domestic Content Bonus Released! On Jan 16th, 2025, the U.S. Treasury and IRS have announced updates to the Inflation Reduction Act's domestic content bonus, providing enhanced incentives for U.S. solar manufacturing, including alternative cost percentages for projects using domestic solar wafers. At Imperial Star Solar, we're committed to leveraging this guidance to support the growth of American solar manufacturing. By aligning with the updated safe harbor tables and incentives, we aim to collaborate with our strategic partners and clients to strengthen the clean energy economy. Read the official press release here: https://lnkd.in/gR9hGSEK #ReliablyBuilt #SafeHarbor #DomesticContent #PVManufacturing #SolarMadeInUS

The United States updated IRA guidelines on clean power production and tax credit bonus. Recently, the U.S. Treasury Department recently released the latest domestic content bonus guidelines for the tax credit for clean power production and investment under the Inflation Reduction Act (IRA), emphasizing the importance of locally manufactured solar silicon wafers in photovoltaic projects. The new guidelines update the domestic content safe harbor guidelines issued in May 2024 to help developers evaluate their eligibility for domestic content bonuses for using local production equipment. The new guidelines optimize the default value to make it more in line with the characteristics and costs of related project components and manufactured product components in the market, and set up an alternative cost percentage for project developers who use local silicon wafers to manufacture solar cells. This adjustment aims to recognize the cost difference of domestic silicon wafer production and promote more developers to choose locally produced photovoltaic modules. At the same time, the updated safe harbor table optimizes the cost percentages and definitions of solar energy, onshore wind power, battery energy storage system (BESS) and other projects, providing a clearer interpretation. In addition, the new guidelines provide additional explanations for renovation projects, projects with optional payment or direct payment, and carport and floating photovoltaic projects, which are applicable to projects that start construction within 90 days after further guidelines are issued. Wally Adeyemo, Vice Minister of Finance, said that the release of the guidelines will further promote clean energy investment and manufacturing prosperity in the United States and create more high-quality employment opportunities for economic development. Mike Carr, executive director of the American Solar Manufacturers Association (SEMA), affirmed the new guidelines, but also pointed out that there is still room for improvement. He believes that although the new guidelines recognize the value of domestic silicon wafer production, its complicated policies may limit the rapid expansion of domestic photovoltaic supply chain and fail to give full play to the technological advantages of the United States. On the other hand, Danny O'Brien, president of corporate affairs of solar photovoltaic manufacturer Qcells, welcomed the new guidelines. He praised President Biden's leadership in promoting domestic clean energy manufacturing, and pointed out that Qcells has created more than 4,000 manufacturing jobs with the support of the Inflation Reduction Act, showing the effectiveness of the clean energy industry's re-industrialization policy.

Our June blog delves into the tax rebate opportunities provided by the South African Revenue Service (SARS) for businesses investing in solar energy. Discover how you can maximize your savings and enhance your return on investment with these valuable incentives. Read the full article at the link below. https://lnkd.in/d3qzNUfx #taxrebates #RenewableEnergyIncentives

How Will Solar Prices Be Affected in 2025? Here’s What You Need to Know The solar industry is entering a period of change with new antidumping rates on imported panels and potential updates to federal incentives. These shifts could significantly impact solar installation costs for businesses and homeowners in 2025. In our latest blog post, we explore: ✅ What the new antidumping rates mean for solar prices and supply chains ✅ How potential changes to the Inflation Reduction Act (IRA) could affect federal incentives ✅ Why Massachusetts programs, like the REC program, continue to offer valuable support ✅ Steps you can take to stay ahead of these changes and maximize your savings Don’t wait to secure your energy independence! 👉 Read the full article here: https://lnkd.in/ewvG-ENz At Spectrum Energy, we’re here to guide you through industry changes and ensure you get the best value from your solar investment. #SolarEnergy #CleanEnergy #RenewableEnergy #SolarIncentives #MassachusettsSolar #SpectrumEnergy

As renewable energy incentives grow, understanding how to effectively monetize solar tax credits is key to optimizing financial benefits. Explore how developers leverage tax credits and IRA incentives in this article: https://okt.to/NibMAc #solarenergy #investments #taxcredits

✅ A new 10% tax credit incentive is facilitated by the U.S. Treasury and IRS, pushing for the use of U.S.-made components in solar, wind, and battery energy storage projects. ✅ The manufacturers are facilitated to use domestically produced steel and other necessary materials. ✅ This policy expects to galvanize the country's solar market, ensuring that a significant share of project costs remain within the U.S. The U.S. Treasury and IRS are offering an alluring 10% tax credit incentive for solar, wind, and battery energy storage developers who utilize U.S.-made components in their projects. This initiative not only promotes homegrown products, but also supports domestic manufacturing in the evolving solar power market. To be eligible, projects should ensure that all manufacturing processes for steel and iron components are conducted within the states, positively impacting the local market. The IRS specifies that at least 40% of the cost of “manufactured products” in solar projects should be domestically sourced, climbing to 55% in due course. The solar tax credit incentive highlights the nation's dedication towards strengthening America's solar manufacturing sector, integral to broader plans for a sustainable energy future.✨ For more information on selling solar virtually across the USA visit www.tstpros.com.