"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."
Read more at Community Power Network: http://communitypowernetwork.com/node/10215
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment