Standalone Energy Storage – Investment Tax Credit (ITC) in the Inflation Reduction Act of 2022: What You Need to Know
Investment Tax Credit (ITC) in the Inflation Reduction Act of 2022: Here’s what developers should know about the fundamental changes to how clean energy tax credits are calculated and paid
IRS Issues Ruling on the ITC Eligibility of Residential Energy Storage Retrofits
The Internal Revenue Service (IRS) has released a private letter ruling (PLR) related to tax credit eligibility when retrofitting an energy storage system onto a home with an existing solar PV system. The PLR determined that a retrofitted storage system would in fact qualify for a 30% federal investment tax credit (ITC), “under code 25D(d)(2) as a qualified solar electric property expenditure”, assuming that the battery charges entirely from the solar system.