US federal investment tax credit

The ITC is a US federal tax credit. It came into force in 2005 and is set out in Section 48 of the Internal Revenue Code. Project owners or investors who install designated renewable energy generation equipment can qualify for it. It is a one-time, dollar-for-dollar cut in tax owed. It does not pay for interconnection or some other soft development and financing costs. It is not a rebate, so the homeowner does not get a check for a share of the purchase price at tax time. One guidebook gives the rate as 26% in 2020, stepping down to 22% in 2021 and 10% in 2022, and notes that the rules change often and may be modified or extended. For storage paired with solar, the batteries have to be charged from solar following the ITC guidelines to capture the full credit. Storage vendors count the ITC as a value stream in several US markets.

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• sentence 4: support check: partial - The quiz item marks the rebate claim as incorrect, but the passage doesn't explicitly state the ITC isn't a rebate or give the explanation beyond that.
• sentence 4: review: partial - The quiz marks a response to the statement that the ITC is a rebate paying the homeowner a check as incorrect, which suggests it is not a rebate, but the passage never says so outright and the feedback is ambiguous… -->