Renewable Energy News Briefs - August 2022

Friday, August 5, 2022

Legislation effective in June in South Carolina retroactively extended the state solar tax credit. S.901 reinstated the 25% state credit that expired Dec. 31, 2021, for solar energy property on specified locations and allows the credit to be taken by a partnership or limited liability company taxed as a partnership. The legislation increases the project cap from $2.5 million to $5 million and allows the credit to be taken in five equal installments beginning within three years of the year in which the property is placed in service.

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Monarch Private Capital financially closed June 20 on a 450-megawatt wind project portfolio in West Texas. The portfolio is expected to generate production tax credits due to the presence of wind turbines. With the closing, Monarch’s expands is clean power generation capacity to 220 facilities across 23 states. The wind energy projects are Monarch’s first in that sector of renewable energy.

Journal Category: 
Renewable Energy Tax Credits
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