Generous federal and state incentives, technological advancements, soaring electricity costs, and ambitious sustainability goals are driving widespread adoption of solar photovoltaic technology, with solar arrays being installed on parking lots, farms, and even lakes.
Elective pay, also referred to as ‘direct pay’ is a provision in the Inflation Reduction Act that enables tax-exempt organizations, states, and government organizations to directly receive monetary payment for the investment tax credit for eligible solar installations and energy storage projects.