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1603 Investment Tax Credit (ITC) Grant-In-Lieu May Be Extended For Two Years Providing Major Upside To Solar Farm Investment

Inside of the U.S. in 2011, solar farm installation demand can be anticipated to reach 1750MW driven by the utility scale installations. Given a fifteen percent yoy drop in panel price per watt, unsubsidized project install charges will move to five to six dollars per watt for small commercial scale and $3.75-$4 for utility level, which in turn should help drive the U.S. sector demand up 119% year in and year out in 2011 versus eight hundred megawatts in 2010. Based mainly on the latest developments in energy policy legislation, Commercial Solar Design suggests significantly greater odds of an extension of treasury real money grant-in-lieu of 30% investment tax credit (ITC), which could add significantly to the upside regarding Commercial Solar Design's forecast and strengthen solar farm investment significantly.

Non-residential installs will gain an increased share of the United States PV marketplace with seventy six percent of the market in 2011, way up from 69% in 2010 (136% year in and year out). In terms of the regulatory landscape, while the crucial broad energy reform bill seems to be removed from the table, the "domestic manufacturing and energy jobs" bill introduced in the House in the later part of July included an extension of the cash grant-in-lieu of 30 % investment tax credit (ITC) . Commercial Solar Design is hinting that that there's a much higher likelihood of passage of this bill in congress when the United States Congress assembles following the August recess. This valuable bill is then likely to be merged with the pending energy bill in the the US House of Representatives or may very well be attached to the tax extender's bill down the road this year. As a whole, passage of renewable energy tax credits is definitely high on the agenda of tax committees in the Congress.

The discussion draft connected with "Domestic Manufacturing and Energy Jobs Act of 2010" announced in the last week of July includes that the extension for the cash grant program for 2 years is the key solar question as part of the bill. The draft limits the much presumed climate change bill including "cap and trade" and a national RPS (Renewable Portfolio Standard). This kind of watered down package of the "energy" bill is expected to be enacted in the House when United States Congress resumes after the August recess the week of Sept thirteenth. Having said that solar farm investment can continue with reasonable IRR (internal rate of return) with or without a 1603 extension

The Treasury cash grant-in-lieu of the 30% investment tax credit (ITC) program was launched in August 2009 to give an upfront cash grant equivalent to 30% of the applicable project cost to the renewable energy building contractors together with developers and including commercial and utility scale projects. A significant majority of the contractors and developers did not have taxable profits to make use of the 30% ITC, and therefore, the real money grant program has been a big incentive for the solar energy contractors/developers. Since there seemed to be a lack of clarity around the taxability of the cash grant through late April the incentive was in fact underutilized.

The Treasury real money grant program was obviously a great success and extension of the program will provide substantial upside to solar farm investment and demand approximations in 2011.

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