The US House of Representatives passed an amendment to extend the solar Investment Tax Credit (ITC) on December 16. The extension, which is part of a tax and spending package, is now being moved to the Senate for consideration and is very likely to win final approval. The tax credit rate under the ITC was originally to be scaled back from 30% to 10% at the end of 2016. Under the amendment, ITC will be extended to 2022, during which the rate will be reduced gradually and subsidies given will vary according to the installation schedules of each photovoltaic (PV) system. This amendment will be effective on the date of issuance.
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