1603 ITC (Investment Tax Credit) Grant-In-Lieu To Be Extended For Two Years Providing Substantial Benefit To Solar Farm Investment

Throughout the United States in 2011, solar farm project demand may be forecasted to achieve 1750MW pushed by the utility scale installs. Given the fifteen percent year over year decrease in solar panel cost per watt, unsubsidized project installation value ranges will decrease to five to six dollars per watt with regard to residential scale not to mention $3.75-$4 for utility level, which in turn ought to help send the U.S. market demand up 119% year over year in 2011 versus 800mw in '10. Based primarily on new trends with regard to energy policy legislation, Commercial Solar Design suggests higher chances regarding an extension of treasury cash grant-in-lieu of thirty percent investment tax credit (ITC), that may possibly contribute significantly to the upside of Commercial Solar Design's outlook and enhance solar farm investment enormously.

Non-residential installs will certainly gain an increased share of the US PV market with seventy six percent of the marketplace in 2011, up from sixty nine percent in 2010 (136% year in and year out). In terms of the regulatory landscape, although the primary broad energy reform bill appears to have been removed from the table, a new "domestic manufacturing and energy jobs" bill presented in the US House of Representatives in the later part of July included an extension of the real money grant-in-lieu of thirty percent investment tax credit (ITC) . Commercial Solar Design is simply advising that there does exist a much higher likelihood of passage of the bill in the legislature when the Congress assembles following the August recess. This particular bill is subsequently likely to be merged together with the pending energy bill in the the House or may be attached to the tax extender's bill later in 2010. As a whole, passage of renewable energy tax credits is undoubtedly high on the agenda of tax committees in the Congress.

The discussion draft of "Domestic Manufacturing and Energy Jobs Act of 2010" issued within the last week of July confirms the fact that the extension for the cash grant program for 24 months is the paramount solar matter within the bill. This draft excludes the very much hoped for climate change bill including "cap and trade" along with a domestic RPS (Renewable Portfolio Standard). This watered down package of the "energy" bill is anticipated to be passed in the US House of Representatives when United States Congress resumes after the August break the week of Sept 13th. Even so solar farm investment can certainly proceed because of favorable IRR (internal rate of return) with or without having a 1603 extension

The Treasury real money grant-in-lieu of the 30% ITC (investment tax credit) program was crafted in August 2009 to offer an upfront real money grant equivalent to 30% of the applicable project total price to the renewable energy contractors plus developers and including commercial and utility scale projects. A sizable majority of the contractors and developers don't have taxable profits to utilize the 30% investment tax credit (ITC), and therefore, the cash grant program became a significant incentive for the solar power contractors/developers. When you consider that there seemed to be a lack of clarity surrounding the taxability of the cash grant right up until late April the incentive was initially underutilized.

The Treasury cash grant program has been a considerable success and extension of the program can provide vital upside to solar farm investment and demand estimates in 2011.

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