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Section 48E Clean Electricity Investment Credit
Illinois — state program6 percent base credit; increased up to 30% for facilities meeting prevailing wage and registered apprenticeship requirements; plus 10-percentage points for domestic content requirements; plus 10-percentage points if located in an energy community
A newly established, technology-neutral investment tax credit that replaces the Energy Investment Tax Credit (Section 48) once it phases out at the end of 2024. It is an emissions-based incentive available for qualified facilities and energy storage technology placed in service after Dec. 31, 2024, and is eligible for direct payment or transfer.
Program details
- Type
- tax-credit
- Amount
- 6 percent base credit; increased up to 30% for facilities meeting prevailing wage and registered apprenticeship requirements; plus 10-percentage points for domestic content requirements; plus 10-percentage points if located in an energy community
- Status
- open
- Administrator
- Internal Revenue Service (IRS)
Source: Illinois — state program. Confirm current terms with the administering agency before applying.