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Tax Credit Expiration Spurring PV Projects

The federal energy investment tax credit (ITC) is set to expire on December 31, 2016, and that has created a flurry of activity as project developers seek to submit applications before the deadline.

There are more than 32 gigawatts of projects greater than 5 megawatts under development or construction, according to IHS Technology.   California has the majority of these projects, but Florida, Georgia, and Hawaii also have large-scale projects with target completion dates in 2016 or 2017.

If no extension of the deadline is signed, the federal ITC for commercial and utility solar projects drops to 10 percent in 2017 from the current 30 percent.

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