Sign Up For Novogradac Industry Alert Emails

May 7, 2024: Renewable Energy Tax Credit Finance Series: Prevailing Wage and Apprenticeship: Meeting the Criteria

Published by Michael J. Novogradac on May 7, 2024, 1:21 p.m.

The Inflation Reduction Act of 2022 reduced the base rate of the then-26% renewable energy investment tax credit to 6% for renewable energy projects. Few projects are financially viable with just the 6% credit, but projects can qualify for a 30% credit if they satisfy two criteria: prevailing wage and apprenticeship (PWA) requirements. In the latest installment in Tax Credit Tuesday’s recurring Renewable Energy Tax Credit Finance series, Michael Novogradac, CPA, and Tony Grappone, CPA, discuss the credits and technologies to which PWA criteria apply, how to meet PWA criteria and how to provide investors comfort with PWA compliance.

Learn more about Novogradac's expertise and many services