Investment Tax Credit: Save on Renewable Energy Properties

The Investment Tax Credit (ITC) is designed to incentivize the installation of renewable energy property by allowing taxpayers to claim a federal credit.

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Project owners, state and local government, and tax-exempt organizations are eligible for the energy investment tax credits for installing qualified energy property and can receive a base credit worth up to 30% of the project cost.

What is the Investment Tax Credit (ITC)?

The Investment Tax Credit (ITC) is designed to incentivize the installation of renewable energy property by allowing taxpayers to claim a federal credit. In addition, government and tax-exempt organizations can benefit through the elective pay program.

Eligible Energy Property

Solar Property

Geothermal Property

Biogas Property

Waste Energy Recovery Property

Energy and Thermal Storage Property

Small Wind Energy Property

Microgrid Controllers

Combined Heat and Power Property

Fuel Cell Property

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Advantages of the ITC:

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Financial savings at the completion of the project

30% base credit for property under 1 MW or meeting prevailing wage & apprenticeship requirements

Up to 10% add-on credits for projects that meet domestic content, energy community, or low income community requirements

Elective Pay (Direct Pay) for government and tax-exempt organizations

Eligible property reclassified to 5-year MACRS depreciation

Credits can be transferred or sold

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