Inflation Reduction Act 2024 Solar System. The tax credit amount is determined. The solar energy industries association (seia) has called the inflation reduction act (ira) “the most transformational clean energy policy in history.”.

One of the many things this act accomplishes is the expansion of the federal tax credit for solar photovoltaics, also known as. One of the most valuable incentives in the inflation reduction act is the extension of the 30% residential clean energy credit, commonly known as the solar investment tax credit or itc.