Member-only story
The FinanceFlick: Solar Spotlight — Unpacking the IRA’s Lucrative Benefits for Solar Projects
Welcome to The FinanceFlick! This is Ariadne, your go-to finance geek. Grab your morning espresso (or matcha, no judgment) because today we’re shining a light on the Inflation Reduction Act of 2022 (IRA) — a piece of legislation that’s shaking up the solar industry. We won’t dive into all the legal jargon (boring!), but we’ll focus on the parts of the IRA that matter most to solar assets. Ready? Let’s get into it!
Solar Assets Get Star Treatment
The IRA is a huge win for renewable energy, but solar assets are getting a major spotlight. With a focus on financial incentives, the act lays out two key sections designed to make solar projects more attractive to individuals: Section 45 and Section 48. So, what do these sections bring to the table?
Section 45: The Return of the PTC for Solar
In Section 45, we see something exciting for those choosing the long run: the Production Tax Credit (PTC) is back, and solar’s on the list. Historically used primarily for wind energy, the PTC is now available for solar projects, too. What does that mean for you? Instead of just a one-time tax credit, the PTC provides ongoing returns over the first 10 years of your solar project’s…
