Enphase Energy Announces Residential and Commercial Products to Help Qualify for Domestic Content Bonus Tax Credit - SolarQuarter
Enphase Energy Announces Residential and Commercial Products to Help Qualify for Domestic Content Bonus Tax Credit - SolarQuarter
Enphase Energy, Inc., a global energy technology company and the world’s leading supplier of microinverter-based solar and battery systems announced residential and commercial products that can help solar projects qualify for the “Domestic Content Bonus Credit.” Projects using specific Enphase microinverters supplied by manufacturing partners in the United States and specific U.S.-made solar racking equipment could qualify. The Domestic Content Bonus Credit is a tax credit that aims to encourage manufacturing and clean energy deployments in the United States as part of the Inflation Reduction Act (IRA).
“We have a product solution available today that puts the domestic content bonus tax credit within reach and can help increase access to solar energy across the United States,” said Ken Fong, Vice President and General Manager of the Americas at Enphase Energy. “Thanks to the IRA, we have additional opportunities to reach more people with clean energy, advance our domestic clean energy goals, and create high-quality American jobs. We are helping to make a meaningful impact on the future of energy in America.”
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Enphase is currently shipping IQ8™ Microinverters for residential (IQ8HC-72-M-US) and commercial (IQ8P-3P-72-M-US) applications from manufacturing partners in the United States. When paired with U.S.-made solar racking rails and fasteners, solar projects can qualify for the domestic content bonus tax credit for projects that begin in 2024. The domestic bonus tax credit is only available to commercial asset owners, which includes commercial businesses adding solar and PPA/lease providers who own residential solar projects. Enphase encourages those interested in the domestic content bonus credit to consult their own legal and tax professionals.
For more information about Enphase residential and commercial products, please visit the website.
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