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IPA Shares Resources On Claiming Tax Credits With Elective Pay
The Illinois Power Authority (IPA) is interested in ensuring entities from across Illinois leverage federal tax credits before they expire at the end of 2025. To that end, the IPA has published resources on Elective Pay, a new mechanism for eligible tax-exempt organizations who have placed clean energy projects in service in the past year.
The Agency’s Elective Pay web page details how some eligible tax-exempt entities like local governments, public schools, and nonprofits can receive a reimbursement for up to 30% of their clean energy project costs. Twelve federal tax credits can be claimed via Elective Pay for projects including solar, geothermal, and energy storage systems. This new mechanism helps ensure that entities across Illinois can leverage federal tax credits and continue the clean energy transition.
To learn more, please visit the Agency’s Elective Pay web page.
