On August 16 th , 2022 President Biden signed into law the Inflation Reduction Act, which includes numerous provisions to help decarbonize the US economy, including the addition of a new tax credit for dynamic glass. The bill added electrochromic glass to Section 48 of the Internal Revenue Code, commonly referred to as the Investment Tax Credit (ITC). The credit can cover up to 30% of the costs associated with dynamic glass, moving it towards cost parity with traditional glazing and shading solutions.
↧