A new California law keeps property tax benefits in place for solar energy system financing transactions known as partnership flips.
Gov. Gavin Newsom signed a bill (S.B. 267) Thursday authored by Sen. Robert M. Hertzberg (D) addressing tension between state and federal tax law for solar systems. It took effect immediately.
- State law exempts solar systems from property tax from the time of installation until the property is sold, while federal law offers an investment tax credit for renewable energy production, including solar energy.
- Solar energy firms use the partnership flip transaction to attract investors as ...