The Biden Administration issued long-awaited detailed information on how clean energy projects eligible for a 30% investment or production tax credit can qualify for the bonus under the new Inflation Reduction Act based on their domestic content.
The incentive is a “monumental opportunity” to grow the country’s domestic energy supply chain and unlock billions of dollars in clean energy manufacturing, J.C. Sandberg, chief advocacy officer for American Clean Power said in a statement after the May 12 release of the guidance.