The prolonged wait for the extension of the renewable energy tax credits throughout 2015 may have somewhat dimmed investor interest for backing renewable energy projects through the monetization of the tax credits.1 With the recent congressional extension of federal tax credits for renewable energy projects, investor interest is likely to soar again.2 The tax credits under discussion are the Investment Tax Credit (ITC) for mainly solar projects and the Production Tax Credit (PTC) for wind projects.3
The ITC generally allows qualified tax-paying project developers to take a 30 percent credit against their capital investment in a renewable energy project. This credit is earned when the equipment is placed into service.4 Solar projects that begin construction before 2020 will receive the 30 percent tax credit with a gradual step down to 26 percent, and 20 percent for projects in 2020 and 2021, respectively.5
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