PANELS Act
Solar energy developers will no longer qualify for federal clean energy tax credits if they build solar installations on prime or unique agricultural land. By removing these tax incentives, the rule increases the cost of placing solar panels on highly productive soils. This restriction applies to all new solar projects placed in service after the law is enacted.
- Referred to the House Committee on Ways and Means.
- Introduced in House
- Introduced in House
The provisions, in plain language.
Prevents solar energy developers from claiming the federal energy investment tax credit (ITC) for any solar projects built on prime or unique farmland, starting with projects placed in service after the bill's enactment.
Prevents solar energy developers from receiving the low-income community bonus investment credit for any solar facilities built on prime or unique farmland, starting with facilities placed in service after the bill's enactment.
Prevents solar energy developers from claiming the federal clean electricity production tax credit (PTC) for any solar facilities built on prime or unique farmland, starting with facilities placed in service after the bill's enactment.
Who it helps · who it burdens.
Who it helps
- Department of the TreasuryAvoids paying out federal energy investment tax credits, clean electricity production tax credits, and low-income community bonus credits to solar developers who build on prime or unique farmland. (Sec. 2(a)-(c))
Who it burdens
- Solar energy developersPrevents developers from claiming the federal energy investment tax credit, the clean electricity production tax credit, or the low-income community bonus credit for solar projects built on prime or unique farmland. (Sec. 2(a)-(c))