DOE Opens Solar and Wind Tax Credit for Low-Income Communities – The Presidential Prayer Team - The Presidential Prayer Team
DOE Opens Solar and Wind Tax Credit for Low-Income Communities - The Presidential Prayer Team
Applications are now open to receive bonus investment credits.
The Department of Energy (DOE) recently opened applications for their Low-Income Communities Bonus Credit Program. Eligible organizations can apply to receive 10-20 percent in additional tax credits for wind and solar projects.
The Energy Department intends for this tax credit to make wind and solar installations more affordable for low-income communities. The program is expected to allow communities to significantly reduce their energy costs by tapping into the power of natural resources.
“The Low-Income Communities Bonus Credit program will help community-based projects deliver direct benefits to families, making solar and wind energy more affordable and more accessible — revitalizing communities and exemplifying our whole-of-government effort to support low-income and Tribal communities in their energy transition efforts,” said Secretary of Energy Jennifer Granholm.
As the Lord Leads, Pray with Us…
- For Secretary Granholm to seek the Lord’s guidance as she heads the Energy Department.
- For the president and his energy advisors as they pursue alternate sources of power.
- For the leaders of organizations in low-income communities to be discerning as they earn tax credits through solar and wind energy development.
Sources: Department of Energy
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Related Knowledge Center: ENERGY BASICS: solar
Declining costs and government encouragement have resulted in a rapid increase in solar energy production in the United States over the past 10 years, although solar’s share remains small: 1.6 percent of all electricity generation in 2018. That rapid growth is projected to continue.