Legislation Would Make ITC Refundable, Delay Phasedown for a Year

Friday, November 13, 2020 - 3:30pm

A bipartisan bill introduced Thursday in the House of Representatives would make the renewable energy investment tax credit (ITC) temporarily refundable for projects that break ground by the end of 2021 and would extend the ITC phasedown by one year. The Solar Jobs Preservation Act of 2020, sponsored by Rep. Mike Levin, D-Calif., and Rep. Dave Schweikert, R-Ariz., is intended to offset the effects of the COVID-19 pandemic on solar development. Under the legislation, the ITC would phase down to 10 percent by Jan. 1, 2025, a year later than under current law.