9/14/2021

The House Legislation.

Draft legislation for the budget reconciliation bill was unveiled showing some details of the clean energy related tax credit. Some highlights include a 10 year extension at 30% for the ITC including standalone storage as long as prevailing wage levels were paid. There is an adder if local content is used that can increase the tax credit. Projects under 1MW appear to be exempt from the requirements and look at a solid 30% for the next decade.

All of this comes under the shadow of the Senate, where Manchin and Synema are taking center stage on what this actually looks like. With the tax increases also included as a pay for the cost of the bill, expect many things to move if and before this is signed by the President.