Tax Ramifications Of Solar Installation
In his latest piece in Forbes, Dave McGuire discusses the rapid growth of solar energy and the importance of understanding the qualifications for the tax credits offered under the IRA.
In recent months, solar energy growth has expanded rapidly. This can be attributed to several factors, including easing gridlock on Chinese panel imports and increased solar installation incentives under the Inflation Reduction Act (IRA). We’ve seen a 47% increase in solar installations in the first quarter of 2023, and with the federal incentives under the IRA driving much of this growth, it’s critical to understand the qualifications for these lucrative incentives.
David McGuire is a leading expert on cost segregation, fixed assets and depreciation law and a co-founder of McGuire Sponsel. McGuire continues to grow McGuire Sponsel’s national presence in cost segregation and depreciation.
He is the primary resource for alliance firms in regards to how tax law affects depreciation. His knowledge in determining asset costs and classifications has held up against IRS scrutiny and has built the firm into a trusted industry resource.