1603 ITC (Investment Tax Credit) Grant-In-Lieu Might Be Extended For Two Years Offering Substantial Benefit To Solar Farm Investment

Throughout the U.S. in 2011, solar farming demand can be estimated to reach 1750MW pushed by the utility scale installations. Given this fifteen percent yoy decline in panel prices per watt, unsubsidized system installation charges may decline to five to six dollars per watt for residential scale together with $3.75-$4 for utility scale, which ought to help drive the United States marketplace demand up 119% year over year in 2011 versus 800mw in the year 2010. Based on recent trends in energy policy legislation, Commercial Solar Design suggests better chances of an extension of treasury cash grant-in-lieu of 30% ITC (investment tax credit), which may possibly add considerably to the upside regarding Commercial Solar Design's forecast and increase solar farm investment drastically.

Non-residential installations will gain an increased share of the United States PV marketplace with seventy six percent of the market in 2011, up from 69% in 2010 (136% yoy). In terms of the regulatory landscape, although the crucial broad energy reform bill might be removed from the table, the "domestic manufacturing and energy jobs" bill presented in the House of Representatives in late July did include an extension of the cash grant-in-lieu of 30 % investment tax credit (ITC) . Commercial Solar Design is suggesting that there's a greater likelihood of passage of the bill in congress when the US Congress assembles following the August recess. This particular bill is then expected to be merged with the impending energy bill in the the House of Representatives or may be attached to the tax extender's bill later this year. Overall, passage of renewable energy tax credits is definitely high on the agenda of tax committees in the Congress.

The discussion draft regarding "Domestic Manufacturing and Energy Jobs Act of 2010" issued in the last week of July finds that the extension of the cash grant program for 24 months is the key solar power subject matter within the bill. The draft excludes the much anticipated climate change bill including "cap and trade" along with a national RPS (Renewable Portfolio Standard). This kind of watered down package of the "energy" bill is expected to be passed in the House of Representatives when Congress resumes after the August recess the week of Sept thirteenth. Even so solar farm investment can proceed together with acceptable IRR (internal rate of return) with or without having a 1603 extension

The Treasury cash grant-in-lieu of the 30% investment tax credit (ITC) program was crafted in August 2009 to provide an upfront hard cash grant equal to 30% of the applicable project cost to the alternative energy companies plus developers and including commercial and utility scale projects. A sizable majority of the contractors and developers didn't have taxable income to make use of the 30% ITC, and for that reason, the hard cash grant program became a big incentive for the solar power contractors/developers. Since there was a lack of clarity around the taxability of the cash grant right until late April the incentive was initially underutilized.

The Treasury cash grant program was obviously a major success and extension of the program can provide substantial upside to solar farm investment and demand estimations in 2011.

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