PV Hardware USA (PVH), a global solar tracking and foundation solutions provide, claims to have the capacity to immediately Safe Harbor 5 GW of tracker product, offering solar developers an opportunity to preserve eligibility for current clean energy tax credits amid legislative uncertainty.
Credit: PV Hardware
This announcement comes on the heels of a budget reconciliation bill recently passed by the U.S. House of Representatives that proposes substantial reductions to clean energy tax incentives established under the Inflation Reduction Act (IRA).
“Time is of the essence,” said Rodolfo Bitar, VP of business development for PVH USA. “We are committed to supporting our partners during this period of policy transition by enabling them to take immediate steps to safeguard their projects’ economics.”
Under current IRS regulations, projects can maintain eligibility for tax credits by demonstrating that at least 5% of its total cost has been spent before any new legislative changes take effect — including through tracker purchases.
“PVH’s scalable manufacturing and proven tracker technology position us to act decisively and reliably,” Bitar said. “We are encouraging developers to reach out now to explore Safe Harbor opportunities before the window of opportunity closes.”
Passed in 2022, the IRA was the country’s largest ever investment in clean energy, allocating billions of dollars in tax credits to encourage investments in renewable generation, home energy efficiency and the purchase of electric vehicles. According to the Solar Energy Industries Association, U.S. solar industry employment is expected to double by 2033 and total U.S. solar capacity is projected to double to 440 GW by 2029.
News item from PV Hardware
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