Did you know that several of our customers receive Federal and State incentives for purchasing our clean fuel cells?
In February 2018, Congress reinstated the Section 48 and Section 25D Investment Tax Credit (ITC) for fuel cells for businesses and residential installations. The reinstatement was part of the Bipartisan Budget Act of 2018.
HOW IT WORKS: Owners of stationary and material handling fuel cell systems can claim the ITC as a percentage of total system equipment and installation costs. The ITC is calculated by taking the lesser of: $3,000/kW installed capacity OR 30% of project cost. The reinstatement established a tiered phase-out of the credit, based on when construction commences (includes a retroactive reinstatement for 2017):
- 1/1/2017 through 12/31/2019: 30% of costs
- 1/1/2020 through 12/31/2020: 26% of costs
- 1/1/2021 through 12/31/2021: 22% of costs
- Projects that commence construction before December 31, 2021 are eligible for a 22% credit if commissioned by January 1, 2024
For State incentives, the Database of State Incentives for Renewables and Efficiency (DSIRE) is a great resource to find incentives for your state.