Monday, November 9, 2015

IRS ruling could boost community solar | Community Power Network

"Community solar in the U.S. is flourishing as never before. An important new ruling by the IRS may serve to accelerate this growth. Homeowners are eligible for a 30% federal investment tax credit (ITC) for solar installed on their roofs, under IRS Section 25D. This credit was understood to only be available for rooftop solar owners. But, a recent IRS ruling found that the owner of an offsite solar array could also be eligible for this credit. The IRS ruled that Roland Marx, a co-founder and member of Vermont’s Boardman Hill Solar Farm, is eligible for the ITC. This is despite the fact that the energy his system generates comes from a remote solar array and not from his roof. This ruling could have a serious impact on the speed at which projects like the Boardman Hill Solar Farm develop. To understand why, it is necessary to understand how Mr. Marx’s solar ownership works."

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