Inflation Reduction Act 2024 Solar. One of the most valuable incentives in the inflation reduction act is the extension of the 30% residential clean energy credit, commonly known as the solar investment tax credit or itc. The inflation reduction act modifies and extends the clean energy investment tax credit to provide up to a 30% credit for qualifying investments in wind, solar, energy storage,.
Previously, only homeowners and commercial entities with tax liability. The inflation reduction act has already spurred a clean energy boom, contributing to more than $360 billion in private sector clean energy announcements since president biden.