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What is the IRA rating?
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The Inflation Reduction Act of 2022 took effect on January 1, 2023. Under this act, the Investment Tax Credit (ITC) for your rooftop solar system is set as follows through 2033:
- Base Tax Credit: ITC at 30%
- Domestic Content Minimums (for U.S. manufactured products): ITC +10%
- Located in an Energy Community (e.g., brownfield sites or areas related to mining operations): ITC +10%
- Located in a Low-Income Community or on Indian Land: ITC +10%
- Qualified Low-Income Residential Building Project or Economic Benefit Project: ITC +20%