Last week, the Internal Revenue Service (IRS) broke some important news for solar projects across the country. The agency released a major update to its Energy Community map that expands urban and rural areas eligible for the 10% Energy Community Bonus Tax Credit for the next 12 months.
What this represents is the government’s ongoing support for solar projects across America as the nation transitions to renewable energy alternatives. Currently, most of the state of Illinois is already covered by existing Energy Community designations, with state tax incentives available alongside federal tax benefits. How long the state tax incentives will remain in place is always an open question, which makes today the best time to move forward with any projected solar projects you have on tap for Illinois.
For more information on the recent IRS Energy Community Bonus Tax Benefit changes that may impact your projects in Illinois and other states, contact Verde Solutions today.
