The initial application portal for the 2024
Created by the Inflation Reduction Act, the program provides a 10 or 20 percentage point increase to the energy investment credit for solar and wind facilities under five megawatts; the facilities must apply for and receive an allocation of the environmental justice solar and wind capacity limitation.
Initial applications are being accepted until 11:59 p.m. EST on June 27. During this 30-day window, all applications will be considered as submitted at the same date and time. Applications submitted after the 30 days will be evaluated on a rolling basis.
Taxpayers who receive an allocation and properly place the facility in service may claim the increased energy investment credit in the year they place the facility in service.
For more information, see the
