Enstall is strongly committed to promoting domestic content as part of the investment strategies supported by the Inflation Reduction Act (IRA). As the clean energy sector continues to grow, leveraging domestic resources is crucial for maximizing tax credits and fostering a sustainable economy.
HAYWARD, Calif., Nov. 7, 2024 /PRNewswire-PRWeb/ -- Enstall is strongly committed to promoting domestic content as part of the investment strategies supported by the Inflation Reduction Act (IRA). As the clean energy sector continues to grow, leveraging domestic resources is crucial for maximizing tax credits and fostering a sustainable economy.
The IRA incentivizes businesses who are financing solar projects to invest in clean energy technologies, providing significant bonus tax credits for projects that prioritize domestic manufacturing. By utilizing domestically sourced materials, some businesses can enhance their eligibility for these incentives, ultimately lowering costs and boosting local economies.
"By focusing on domestic content, we are not only meeting eligibility requirements but also supporting American jobs and investments," said Rich Tiu, CEO of Enstall US. "We believe this approach aligns perfectly with our mission to provide the world with Solar, sooner."
The benefits of choosing domestic content are clear. Projects that meet the domestic content requirements of the IRA can receive a bonus tax credit of 10%, providing a significant advantage for businesses looking to optimize their investment in clean energy solutions.
Enstall is committed to providing clients with the necessary resources and guidance to navigate the complexities of the IRA and domestic content requirements, so their US businesses: IronRidge, EcoFasten and PanelClaw, are carving out pathways to contribute in meaningful ways to the total content.
One caveat offered by the COO of Enstall US, Corey Geiger, is to carefully vet all claims made about this tax break. "This is an emerging and dynamic situation. To date, the federal guidance is incomplete and allows for various interpretations of what constitutes 'Domestic Content.' Because of this, we directly engage with our customers and their tax advisors and consultants to ensure that we fully support their documentation, traceability and other IRS requirements to monetize this important bonus credit. By doing this, we raise their confidence that their projects will earn the Domestic Content Bonus Credit while meeting the rigors of a possible IRS audit."
For more information about Enstall's initiatives and how to leverage domestic content in your clean energy projects, visit our website at: https://enstall.com/us-domestic-content/
About Enstall
Enstall is a leader in the clean energy sector, dedicated to providing innovative solutions that promote sustainability and economic growth. Our commitment to domestic content and investment in renewable energy technologies positions us at the forefront of the energy transition.
Today, Enstall is a global leader in solar mounting solutions and the world's largest provider of rooftop solar mounting solutions. Solar installers have depended on us to secure more than 10.8 gigawatts of solar on residential, commercial, and industrial roofs in 2023. Our companies employ more than 600 people worldwide. We're supporting the transition to clean energy through providing innovative and quality hardware that solar installers trust.
About IronRidge
IronRidge®, an Enstall® company, designs and manufactures structural hardware for residential and commercial solar systems. For over 20 years, we have worked closely with solar professionals to build strong, simple, and cost-effective products. Enstall, including IronRidge®, utilizes a certified quality system that has been registered with Systems Certification Body (SCB™) to meet the requirements of ISO 9001, maintaining the highest of quality management standards. Review the complete list of Domestic Content components supported by IronRidge: https://www.ironridge.com/dc
About EcoFasten
EcoFasten, an Enstall Company, has established a reputation for being one of the industry's leading innovators by providing expert solutions for mounting solar PV on any roof. EcoFasten's broad portfolio of solar rooftop mounting systems and attachments stems from the direct needs of solar PV installers. EcoFasten takes pride in providing the right solution for every application. For more information about EcoFasten domestic content components, please visit: https://ecofastensolar.com/resources/domestic-content/
About PanelClaw
With headquarters in North America and Europe, PanelClaw is the largest provider of PV racking solutions and services for buildings. Our unmatched track record of reliability provides peace of mind for our customers worldwide. Our commitment to cutting-edge engineering has yielded best-in-class racking solutions for over 15 years, and our dedication to world-class service drives partnership and trust. For more information about domestic content components, please visit https://www.panelclaw.com/domestic-content/.
Media Contact
Angie Fryer, IronRidge, 1 510-219-6597, [email protected], ironridge.com
SOURCE IronRidge
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