PV Hardware USA (PVH), offering worldwide solutions for solar tracking and foundation, claims to have the capacity to immediately secure 5 GW of Tracker product, so that solar developers offer the opportunity to qualify for current credit credits for clean energy in the midst of legislative uncertainty.
Credit: PV -hardware
This announcement comes on the heels of a bill for budget insurance that has recently been adopted by the American House of Representatives proposing substantial decreases for stimulus for clean energy taxes that have been established in the context of the Inflation Reduction Act (IRA).
“Time is essential,” said Rodolfo Bitar, VP of Business Development for PVH USA. “We are committed to supporting our partners during this period of policy transition by enabling them to take immediate steps to protect the economy of their projects.”
According to the current IRS regulations, projects may be eligible for tax credits by showing that at least 5% of the total costs have been spent before new legislative changes come into effect -including via tracker purchases.
“PVH’s scalable production and proven tracker technology position us to act decisively and reliably,” said Bitar. “We encourage developers to contact us now to explore safe port options before the window of opportunities closes.”
Acquired in 2022, the IRA was the largest investment in the country ever in clean energy, which allocated billions of dollars in tax credits to encourage investments in renewable generation, energy efficiency and the purchase of electric vehicles. According to the Solar Energy Industries Association, employment in the American solar industry is expected to double by 2033 and the total American solar capacity is expected to double to 440 GW by 2029.
News item from PV -hardware
