IRS ruling boosts anticipated solar deployment across the United States

Great news for all stateside PV developers emerged from an IRS ruling made on June 22 in which the solar Investment Tax Credit (ITC) was extended at the 30% level for an additional four years.

Solar developers can now be confident in qualifying for the 30% tax credit through to 2023 by procuring 5% of the total system cost in advance before 2019 yearend, ensuring their project construction commencement will be deemed official.

This good news has added to a positive community spirit in the U.S. PV industry, which has been growing since February of this year due to improved cash flow visibility, clarity on tariffs, and lower input costs from a global supply glut, this is according to Credit Suisse.

Growing certainty in the PV industry supports optimistic forecasts predicting an exponential growth in renewables deployment across North America in the years leading to 2040 and beyond. Coupled with the increasing consumer demand for power from renewable sources, the future looks bright for the United States. Good news for the climate and good news for future users of the Green Power Exchange platform!

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About Green Power Exchange: Green Power Exchange (GPX) is a blockchain-based trading platform. The GPX platform enables simple Peer-to-Peer energy trading. Producers can easily pre-sell their power at a better rate while allowing consumers to buy their power directly for significantly less. GPX is creating a hyper-efficient renewable energy market place to turbocharge clean energy deployment and push out fossil fuels.