Photo voltaic and battery programs supplier Enphase Power has launched new residential and business merchandise made in america that can assist bolster the share of accessible federal tax credit accessible to prospects putting in the tech.
Enphase Power ($ENPH) is a world vitality know-how provider specializing in photo voltaic and battery programs. Its sustainable tech is predicated on a collection of microinverter-based programs which have revolutionized vitality administration in over 145 nations up to now.
The corporate studies it has shipped roughly 75 million micro-inverters up to now, serving to mix photo voltaic and battery know-how to empower its prospects to make use of, save, and promote their very own vitality – all whereas managing every thing by way of a proprietary cell app.
Final October, Enphase launched a brand new product line for dwelling programs – IQ EV Chargers – which, when paired with photo voltaic panels and battery packs, will help optimize vitality utilization and decrease month-to-month charges.
Following the signing of the Inflation Discount Act (IRA), residential and business photo voltaic tasks within the US can qualify for as much as 30% in federal tax credit. Nevertheless, there may be 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 accordance with particulars shared by Enphase Power as we speak, it has launched a line of residential and business 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 vitality deployments, as a part of the IRA.
Enphase shared that it’s presently transport its IQ8 Microinverters, manufactured by companions in america, for residential and business 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 supply a further 10% on high of the 30% tax credit presently accessible by way of the IRA. Moreover, an additional 10% credit score is out there 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, vice chairman and common supervisor of the Americas at Enphase Power, spoke:
Now we have a product answer accessible as we speak that places the home content material bonus tax credit score inside attain and will help improve entry to photo voltaic vitality throughout america. Because of the IRA, we have now extra alternatives to achieve extra individuals with clear vitality, advance our home clear vitality targets, and create high-quality American jobs. We’re serving to to make a significant affect on the way forward for vitality in America.
Enphase acknowledged that the home bonus tax credit score is just accessible to business asset house owners, together with business companies implementing photo voltaic and PPA/lease suppliers who personal residential photo voltaic tasks. Enphase’s group of gross sales representatives will help potential photo voltaic prospects decide in the event that they qualify for the home content material bonus tax credit score and you may also study extra in regards to the potential financial savings in tax credit on Enphase’s web site.
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