SEMA Coalition Commends Treasury and IRS for the Final Rules on the Technology Neutral Energy Deployment Tax Credits (45Y and 48E)

Washington, DC – Today, following the pre-publication notice of the final rules relating to the technology neutral clean electricity production credit (45Y) and clean electricity investment credit (48E), Mike Carr, Executive Director of the Solar Energy Manufacturers for America (SEMA) Coalition, released the following statement:

“The SEMA Coalition has consistently argued that Congress intended that energy storage systems and energy generation systems, including solar, are separate qualified facilities under the tech neutral credits. This is a critical clarification needed to support American solar manufacturers and workers.

“This final rule will tighten requirements in order to better support American solar manufacturers (and domestic battery cell production), particularly the critical component manufacturers, as project developers will increasingly need to ensure they use American modules with domestically manufactured components to qualify for the Domestic Content Bonus.

“The industry is currently spending billions to open new factories across the United States. This is a significant step forward in securing demand from those new factories to further bolster our economic and energy security.”