Enphase Energy, Inc. the global leader of microinverter-based solar and battery systems, announced some of its residential and commercial products can help solar projects qualify for the Domestic Content Bonus Credit.
Part of the Inflation Reduction Act, the tax credit’s purpose is to encourage domestic manufacturing and clean energy deployments.
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.
Projects that begin in 2024 will be eligible for the tax credit if they use these Enphase microinverters with domestically manufactured solar racking rails and fasteners.
“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, in a statement. “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.”
The tax credit is only available to commercial asset owners, including commercial businesses adding solar, as well as PPA and lease providers who own residential projects.
Learn more here.