Photo voltaic and battery methods supplier Enphase Vitality has launched new residential and industrial merchandise made in the USA that can assist bolster the share of obtainable federal tax credit obtainable to prospects putting in the tech.
Enphase Vitality ($ENPH) is a world power know-how provider specializing in photo voltaic and battery methods. Its sustainable tech is predicated on a sequence of microinverter-based methods which have revolutionized power administration in over 145 nations so far.
The corporate stories it has shipped roughly 75 million micro-inverters so far, serving to mix photo voltaic and battery know-how to empower its prospects to make use of, save, and promote their very own power – all whereas managing the whole lot by a proprietary cell app.
Final October, Enphase launched a brand new product line for house methods – IQ EV Chargers – which, when paired with photo voltaic panels and battery packs, may help optimize power utilization and decrease month-to-month charges.
Following the signing of the Inflation Discount Act (IRA), residential and industrial photo voltaic tasks within the US can qualify for as much as 30% in federal tax credit. Nonetheless, there’s potential for extra financial savings and Enphase has launched the know-how to assist ship them to its prospects.
Enphase helps prospects qualify for bonus tax credit
In line with particulars shared by Enphase Vitality at present, it has launched a line of residential and industrial merchandise that may assist photo voltaic tasks qualify for the “Home Content material Bonus Credit score.” The Home Content material Bonus Credit score is a tax credit score for solar energy that promotes native US manufacturing and clear power deployments, as a part of the IRA.
Enphase shared that it’s at present delivery its IQ8 Microinverters, manufactured by companions in the USA, for residential and industrial use. When paired with US-made photo voltaic racking rails and fasteners, photo voltaic tasks can qualify for the Home Content material Bonus tax credit all through 2024.
The bonus credit provide an extra 10% on high of the 30% tax credit at present obtainable by the IRA. Moreover, an additional 10% credit score is offered for tasks in low-income communities, permitting for a complete potential tax credit score of as much as 50% for photo voltaic installations. Ken Fong, vp and common supervisor of the Americas at Enphase Vitality, spoke:
We now have a product answer obtainable at present that places the home content material bonus tax credit score inside attain and may help improve entry to photo voltaic power throughout the USA. Due to the IRA, we now have extra alternatives to achieve extra folks with clear power, advance our home clear power targets, and create high-quality American jobs. We’re serving to to make a significant affect on the way forward for power in America.
Enphase acknowledged that the home bonus tax credit score is barely obtainable to industrial asset house owners, together with industrial companies implementing photo voltaic and PPA/lease suppliers who personal residential photo voltaic tasks. Enphase’s group of gross sales representatives may help potential photo voltaic prospects decide in the event that they qualify for the home content material bonus tax credit score and you too can study extra in regards to the potential financial savings in tax credit on Enphase’s web site.
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