In late December politics Congressional leaders struck a deal to extend the Federal investment tax credit and bonus depreciation for an additional 5 years. The ITC extends for 3 years at 30% thendrops to 26% for the next year, then 22% for the 5th year before revertingto the original 10% credit permanently in 2022. The 50% bonusdepreciation is extended to 2017, then drops to 40% in 2018 and 30% in2019 before sun-setting.
Shortly after passage in the U.S. House of Representatives, the U.S.Senate passed the “Protecting Americans from Tax Hikes Act of 2015“.
“May the force be with you,” said Senator Dianne Feinstein just prior to the Senate vote. The measure was signed by President Obama making itofficial.That “force” will help promote sustained growth of solar industry andprojects for us to build for the next 6 years!