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2024 program year has received over 50,000 applications to date; 2023 program year resulted in $3.5 billion in clean energy investments from more than 49,000 solar facilities in low-income communities
The U.S. Department of the Treasury and Internal Revenue Service (IRS), in partnership with the Department of Energy (DOE), announced that Treasury and IRS have received over 50,000 applications requesting over 6 gigawatts of capacity for clean energy projects across the country so far in the 2024 Program Year of the Inflation Reduction Act’s Low-Income Communities Bonus Credit Program under Section 48(e) of the Internal Revenue Code. In order to process all applications and allocate capacity, 2024 Program Year applications for projects located in a low-income community, qualified low-income residential building projects, and qualified low-income economic benefit projects (Categories 1, 3, and 4) will be accepted on a rolling basis until October 10, 2024, at 11:59 PM ET. DOE will accept applications on a rolling basis for projects located on Indian Lands (Category 2) until November 12, 2024 at 11:59 PM ET.
Applications for the 2024 Program Year will continue to be accepted on a rolling basis until the respective deadlines. Updates about how much capacity remains available by category can be accessed via the program capacity dashboard on the DOE program homepage.
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