The U.S. Department of the Treasury, Internal Revenue Service (IRS) and Department of Energy (DOE) announced that the Low-Income Communities Bonus Credit Program received more than 46,000 applications within the initial 30-day application period. The applications are for new energy facilities located in low-income communities, on Indian land, as part of affordable housing or directly benefitting low-income households from across the country. Applications for the 2023 program year are still being accepted on a rolling basis and applications submitted in categories with remaining capacity will be considered through early 2024. Of the 1.8 gigawatts (GW) of capacity available, 200 megawatts are set aside for facilities that are part of federally subsidized residential buildings, including those supported by LIHTC. The DOE provided a program dashboard to quantify the demand. Another base 1.8 GW of capacity will be available via application in 2024.
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