SAN DIEGO, Aug. 23, 2022 (GLOBE NEWSWIRE) — NeoVolta Inc. (NASDAQ: NEOV) – NeoVolta Inc., manufacturer of Smart Energy Storage Solutions, today announced that its products are eligible for 30% in tax credits under the $369 billion Inflation Reduction Act. The climate spending bill contains significant tax breaks for households that take steps toward energy efficiency. In particular, the Act extends the solar investment tax credit (ITC) to the installation of stand-alone energy storage. Previously, the ITC was only permitted for storage that included solar panels.
Under this provision, stand-alone energy storage costs incurred from the beginning of 2022 to the end of 2032 would qualify for a 30% tax credit. “The climate spending package represents an unprecedented opportunity for home energy storage,” said Brent Willson, CEO of NeoVolta Inc. “There has never been a…
NeoVolta Energy Storage Systems Eligible for 30% in Tax
