The Inflation Reduction Act was designed to curb or reduce inflation within the United States economy, with a considerable benefit for the U.S. solar and manufacturing industries. The United States Treasury is still responding to requests for clarification about the IRA, and new information is being published every week. Quest Renewables compiled the following list of resources to help solar stakeholders navigate the legislation.
Guidebook to the IRA
What it is: this comprehensive 178-page guidebook introduces readers to the full Inflation Reduction Act. It was published by the White House through CleanEnergy.gov.
Why this is useful: this document provides detailed summaries of different programs funded by the IRA, in the U.S. Government’s own language. Check out page 13 for details about the Production Tax Credit and page 14 for details about the Investment Tax Credit.
General Summary of the ITC and the PTC
What it is: this brief summary of the Investment Tax Credit and the Production Tax Credit was published by the United States Department of Energy.
Why this is useful: if you are looking for a 10-minute read with details about differences between the Investment Tax Credit (ITC) and the Production Tax Credit (PTC), then this article is for you.
Official Guidance from the Loan Program Office
What it is: this summary outlines implications for the IRA’s impact on loans issued by the Loan Program Office, including the Innovative Clean Energy Loan Guarantees and the Energy Infrastructure Reinvestment Program. It also includes a video introduction by LPO Director, Jigar Shah.
Why this is useful: the summary outlines the $11.7 billion in new loans authorized through the Loan Programs Office as part of the Investment Reduction Act. If you are considering pursuing a loan through the LPO in the coming years, this is a good place to start.
Legislative Analysis for Counties: The Inflation Reduction Act
What it is: This article was written by Sarah Gimont on behalf of the National Association of Counties to help counties in particular navigate specific benefits of the Inflation Reduction Act.
Why this is useful: if you are a county or are considering partnering with a county government, this is a good article to learn the basics of the IRA as it relates to local government. It lays out block grant opportunities, financial assistance, and subsidies which can benefit you and the residents within a county you are serving.
Sign Up to Receive Official Updates About the IRA
What it is: At this link you can sign up to receive updates when The White House and The Treasury Department issue updated information. This web page also includes interactive graphics to help individuals understand the IRA’s impact on their household and occupation.
Why this is useful: New guidelines and treasury interpretations related to the IRA are being issued on an ongoing basis. By signing up to receive updates directly from the source of the legislation, you will be on top of the latest updates which your colleagues, customers, and vendors can benefit from.
Reach out to Quest Renewables today to discuss ways that the QuadPod™ Canopy can support your project’s eligibility to meet the domestic content requirements, allowing up to a 10% additional tax credit for both the Investment Tax Credit (ITC) and the Production Tax Credit (PTC).