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Tax Credits for US Solar Energy Component Manufacturers

This act introduces new tax credits for companies manufacturing solar energy components in the United States. The goal is to support local production and grow the renewable energy sector, potentially leading to wider availability and lower prices for solar panels for citizens. This could make installing solar systems in homes and businesses more affordable.
Key points
Companies producing solar panels, cells, wafers, polysilicon, inverters, and solar tracker structural components in the US will receive tax credits.
The credit amount varies by the type and capacity of the component produced, encouraging diverse domestic manufacturing.
The credit program will gradually phase out after 2028 and fully end after 2030, providing a timeframe for industry development.
All components eligible for the credit must be produced within the United States or its possessions.
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Additional Information
Print number: 117_S_3091
Sponsor: Sen. Ossoff, Jon [D-GA]
Process start date: 2021-10-27