Identifying and leveraging available tax credit programs can make a renewable project possible. The Investment Tax Credit (ITC) is designed to help incentive development. Oftentimes under these programs it can be hard to determine whether a project is eligible, how to take advantage of the benefits, and what are the requirements if a project does qualify. Our renewable energy team makes it easier to use the ITC to make a project possible. Thorough assessments on qualifying projects allow for in-depth guidance on ITC opportunities.
These projects are able to take advantage of investment-based credits up to 30 percent of eligible costs. Determining the eligible basis of your property is among the keys to accurately calculating the value of the ITC, and of maximizing the realized credit while ensuring compliance with the rules. However, these credits are typically subject to expiration, and meeting certain “begun construction” and/or “placed in service” requirements before the regulatory deadline is often a key consideration to lock in your credit value. We work with clients to navigate the ITC program, including: