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<p class="MsoNormal"><span style="font-size:11.0pt">Great question. All other references within this text refer to subsections, not subparagraphs, but “subsection” b at link contains:<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><b><span style="font-size:11.0pt">(b) Limitations<o:p></o:p></span></b></p>
<p class="MsoNormal"><a name="substructure-location_b_1"></a><b><span style="font-size:11.0pt">(1) Maximum credit for fuel cells<o:p></o:p></span></b></p>
<p class="MsoNormal"><span style="font-size:11.0pt">In the case of any qualified fuel cell property expenditure, the credit allowed under subsection (a) (determined without regard to subsection (c)) for any taxable year shall not exceed $500 with respect to
each half kilowatt of capacity of the qualified fuel cell property (as defined in section 48(c)(1)) to which such expenditure relates.<o:p></o:p></span></p>
<p class="MsoNormal"><a name="substructure-location_b_2"></a><b><span style="font-size:11.0pt">(2) Certification of solar water heating property<o:p></o:p></span></b></p>
<p class="MsoNormal"><span style="font-size:11.0pt">No credit shall be allowed under this section for an item of property described in subsection (d)(1) unless such property is certified for performance by the non-profit Solar Rating Certification Corporation
or a comparable entity endorsed by the government of the State in which such property is installed.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><br>
<b>Michael Mahon</b> (he/him)<b><br>
</b>Solar Academy Manager | SMA America <span style="font-size:11.0pt"><o:p></o:p></span></p>
<p class="MsoNormal">+1 916 918 9412<u><br>
</u><a href="https://www.sma-america.com/">SMA America</a> | <a href="https://solaracademy.sma.de/en/">
Solar Academy</a> | <a href="https://www.youtube.com/playlist?list=PLoiOll7F4i-_Wc4JVN8ga2x2vxc8xews_">
TechTip Channel</a> | <a href="https://solaracademy.sma.de/en/courses.html?filter%5b1%5d=English&filter%5b2%5d=United%20States">
Upcoming Academy Trainings</a><o:p></o:p></p>
<p class="MsoNormal"><a href="https://www.sma-america.com/products/hybrid-inverters/sunny-boy-smart-energy"><span style="text-decoration:none"><img border="0" width="623" height="193" style="width:6.4895in;height:2.0104in" id="Picture_x0020_1301192449" src="cid:image001.jpg@01DBF7DB.27227630"></span></a><o:p></o:p></p>
<p class="MsoNormal">This email and any attachments thereto may contain SMA America, LLC confidential, privileged and private material for the sole use of the intended recipient. Any review, copying, or distribution of this email (or any attachments thereto)
by others is strictly prohibited. If you are not the intended recipient, please contact the sender immediately and permanently delete the original and any copies of this email and any attachments thereto. Thank you.<o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:11.0pt"><o:p> </o:p></span></p>
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<p class="MsoNormal"><b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">From:</span></b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif"> RE-wrenches <re-wrenches-bounces@lists.re-wrenches.org>
<b>On Behalf Of </b>Kirk Herander via RE-wrenches<br>
<b>Sent:</b> Friday, July 18, 2025 11:26 AM<br>
<b>To:</b> RE-wrenches <re-wrenches@lists.re-wrenches.org><br>
<b>Cc:</b> Kirk Herander <kirkh@vermont.solar><br>
<b>Subject:</b> Re: [RE-wrenches] Residential credits: buy now, install later…?????<o:p></o:p></span></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal">So what is the text of subparagraph (B)?? Obviously there is a difference of opinion amongst expert interpreters.<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal">On Fri, Jul 18, 2025 at 11:43<span style="font-family:"Arial",sans-serif"> </span>AM Harry Mahon via RE-wrenches <<a href="mailto:re-wrenches@lists.re-wrenches.org">re-wrenches@lists.re-wrenches.org</a>> wrote:<o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:11.0pt">Unfortunately I think the actual language of 25D defines expenditure differently than an exchange of money, and would imagine it will be enforced
by this administration...</span><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:11.0pt"> </span><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:11.0pt">From
<a href="https://www.solarinsure.com/final-changes-to-solar-tax-credit-from-h-r-1" target="_blank">
https://www.solarinsure.com/final-changes-to-solar-tax-credit-from-h-r-1</a> and quoted is directly from language of 25D (I think the callout from 25D is actually (e)(8)(A) ):</span><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:11.0pt"> </span><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:11.0pt">An interesting note with the amendment is the language “with expenditures made after December 31st”. Some have postulated that the change in language
here could mean that homeowners could take the credit if they simply paid for the system before the end of 2025. This is clarified in <a href="https://uscode.house.gov/view.xhtml?req=(title:26%20section:25D%20edition:prelim)" target="_blank">26 USC 25D(8)(A)</a>:</span><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:11.0pt"> </span><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><i><span style="font-size:11.0pt">“Except as provided in subparagraph (B), an expenditure with respect to an item shall be treated as made when the original installation of the
item is completed.“</span></i><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><i><span style="font-size:11.0pt"> </span></i><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:11.0pt">Unfortunately for homeowners, this means that the system does need to be fully installed by the end of 2025 in order to still claim the credit.</span><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:11.0pt"> </span><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:11.0pt">----------</span><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><br>
<b>Michael Mahon</b> (he/him)<b><br>
</b>Solar Academy Manager | SMA America <o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto">+1 916 918 9412<u><br>
</u><a href="https://www.sma-america.com/" target="_blank">SMA America</a> | <a href="https://solaracademy.sma.de/en/" target="_blank">
Solar Academy</a> | <a href="https://www.youtube.com/playlist?list=PLoiOll7F4i-_Wc4JVN8ga2x2vxc8xews_" target="_blank">
TechTip Channel</a> | <a href="https://solaracademy.sma.de/en/courses.html?filter%5b1%5d=English&filter%5b2%5d=United%20States" target="_blank">
Upcoming Academy Trainings</a><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><a href="https://www.sma-america.com/products/hybrid-inverters/sunny-boy-smart-energy" target="_blank"><span style="text-decoration:none"><img border="0" width="623" height="193" style="width:6.4895in;height:2.0104in" id="m_-7382119817240028177Picture_x0020_1845385474" src="cid:image001.jpg@01DBF7DB.27227630"></span></a><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto">This email and any attachments thereto may contain SMA America, LLC confidential, privileged and private material for the sole use of the intended recipient. Any review, copying,
or distribution of this email (or any attachments thereto) by others is strictly prohibited. If you are not the intended recipient, please contact the sender immediately and permanently delete the original and any copies of this email and any attachments thereto.
Thank you.<o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:11.0pt"> </span><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">From:</span></b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif"> RE-wrenches <<a href="mailto:re-wrenches-bounces@lists.re-wrenches.org" target="_blank">re-wrenches-bounces@lists.re-wrenches.org</a>>
<b>On Behalf Of </b>Amos Post via RE-wrenches<br>
<b>Sent:</b> Friday, July 18, 2025 9:26 AM<br>
<b>To:</b> RE-wrenches <<a href="mailto:re-wrenches@lists.re-wrenches.org" target="_blank">re-wrenches@lists.re-wrenches.org</a>><br>
<b>Cc:</b> Amos Post <<a href="mailto:integrityenergy101@gmail.com" target="_blank">integrityenergy101@gmail.com</a>><br>
<b>Subject:</b> Re: [RE-wrenches] Residential credits: buy now, install later…?????</span><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"> <o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto">If this is the case, when would the system need to be installed by??? There must be a deadline…?<o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><img border="0" width="113" height="59" style="width:1.177in;height:.6145in" id="m_-73821198172400281773CC8506F-0EEC-4BC2-BCEF-39D46467A8A0" src="cid:image002.jpg@01DBF7DB.27227630"><span style="font-size:9.0pt;font-family:"Helvetica",sans-serif;color:black"><br>
<br>
Amos Post<br>
Integrity Energy<br>
W 802.763.7023<br>
C 802.291.2188<br>
</span><a href="http://www.ienergyvt.com/" target="_blank"><span style="font-size:9.0pt;font-family:"Helvetica",sans-serif;color:black;text-decoration:none">ienergyVT.com</span></a><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:9.0pt;font-family:"Helvetica",sans-serif;color:black"> <a href="https://www.facebook.com/integrityenergyllp?ref=hl" target="_blank">Facebook</a></span><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;margin-bottom:12.0pt"><o:p> </o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto">On Jul 17, 2025, at 7:39 PM, Howie Michaelson via RE-wrenches <<a href="mailto:re-wrenches@lists.re-wrenches.org" target="_blank">re-wrenches@lists.re-wrenches.org</a>> wrote:<o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"> <o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto">If this is accurate, that will make a big difference. I'm getting overwhelmed with requests for systems.<o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"> <o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto">Howie<o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"> <o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto">On Thu, Jul 17, 2025, 4:08<span style="font-family:"Arial",sans-serif"> </span>PM Kirk Herander via RE-wrenches <<a href="mailto:re-wrenches@lists.re-wrenches.org" target="_blank">re-wrenches@lists.re-wrenches.org</a>>
wrote:<o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><br clear="all">
Residential tax credit: <o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"> <o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><a href="https://pv-magazine-usa.us13.list-manage.com/track/click?u=2790e780a1533f4bc05c8679a&id=f0c9594dad&e=08687aaaf2" target="_blank">https://pv-magazine-usa.us13.list-manage.com/track/click?u=2790e780a1533f4bc05c8679a&id=</a><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"> <o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto">Apparently, the bills wording allows a full purchase or procurement of a residential system to be eligible for the tax credits if purchased before they expire at the end of 2025.
Systems do not need to be installed before the end of the year.<o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"> <o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto">If accurate, no “placed in service” 2025 deadline.<o:p></o:p></p>
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<span style="font-family:Oxygen;color:#404040">“With respect to the Jan 2026 end of Section 25D(residential tax credit), experts agree that the determination of whether a homeowner qualifies has shifted from the previous “placed in service” test to the bill’s
new “expenditures made” test.”</span><o:p></o:p></p>
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<span style="font-family:Oxygen;color:#404040">“If the homeowner pays for the installation in 2025, they could lock in the credit, even if the system is placed in service later,” said Bryen Alperin, Partner & Managing Director at Foss & Company."</span><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><a name="m_-7382119817240028177_m_692621282438740"><b><span style="font-size:10.0pt;font-family:"Arial",sans-serif">Kirk Herander / </span></b></a><b><span style="font-size:10.0pt;font-family:"Arial",sans-serif"><a href="mailto:kirkh@vermont.solar" target="_blank" title="Send an email to kirkh@vermont.solar; Send an email to kirkh@vermont.solar">kirkh@vermont.solar</a></span></b><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><b><span style="font-size:10.0pt;font-family:"Arial",sans-serif">Owner|Principal, VT Solar, LLC</span></b><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><b><i><span style="font-size:10.0pt;font-family:"Arial",sans-serif">Celebrating our 34<sup>st</sup> Anniversary 1991-2025!!</span></i></b><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:10.0pt;font-family:"Arial",sans-serif">dba Vermont Solar Engineering</span><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:10.0pt;font-family:"Arial",sans-serif">802.559.1225</span><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto">On Thu, Jul 17, 2025 at 11:04<span style="font-family:"Arial",sans-serif"> </span>AM Harry Mahon via RE-wrenches <<a href="mailto:re-wrenches@lists.re-wrenches.org" target="_blank">re-wrenches@lists.re-wrenches.org</a>>
wrote:<o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:11.0pt">This might be related to the technical correction to wording of 48E on percentages of domestic content??
</span><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:11.0pt"> </span><o:p></o:p></p>
<ul type="disc">
<li class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;mso-list:l1 level1 lfo1">
<span style="font-size:11.0pt">Correction to Domestic Content Percentages Under 48E: The domestic content applicable percentage under 48E for qualified facilities and energy storage technology would be revised to match current 45Y as follows:</span><o:p></o:p></li></ul>
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<li class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;mso-list:l0 level2 lfo2">
<span style="font-size:11.0pt">40% (or 20% for offshore wind) if construction begins before June 16, 2025;</span><o:p></o:p></li><li class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;mso-list:l0 level2 lfo2">
<span style="font-size:11.0pt">45% (or 27.5% for offshore wind) if construction begins after June 16, 2025, and before Jan. 1, 2026;</span><o:p></o:p></li><li class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;mso-list:l0 level2 lfo2">
<span style="font-size:11.0pt">50% (or 35% for offshore wind) if construction begins during 2026; and</span><o:p></o:p></li><li class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;mso-list:l0 level2 lfo2">
<span style="font-size:11.0pt">55% if construction begins after Dec. 31, 2026.</span><o:p></o:p></li></ul>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:11.0pt"> </span><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:11.0pt">This content percentage wont matter to residential system owners – 25D still goes away at EOY, no domestic content requirements...
</span><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:11.0pt">Only folks leasing systems can get the credit, THEN domestic content matters. PV Magazine has good summary article.</span><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:11.0pt"><a href="https://pv-magazine-usa.com/2025/07/10/what-the-budget-bill-means-for-energy-storage-tax-credit-eligibility/" target="_blank">https://pv-magazine-usa.com/2025/07/10/what-the-budget-bill-means-for-energy-storage-tax-credit-eligibility/</a></span><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:11.0pt"> </span><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:11.0pt">Wannabe residential battery owners will likely feel the most immediate impact of the OBBB.</span><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:11.0pt">Updates to the 25D residential solar tax credit, which covers solar panels, solar water heaters and related property like home battery storage systems,
have significantly shortened the timeline for homeowners to access the credit.</span><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:11.0pt">Now, home batteries will only qualify for the 30% tax credit if they’re purchased and installed by the end of the year before the credit phases out
entirely.</span><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:11.0pt">There is a bright spot: residential systems leased from third parties will remain eligible for tax credits beyond 2025, as they rely on 48E instead
of 25D.</span><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:11.0pt"> </span><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><br>
<b>Michael Mahon</b> (he/him)<b><br>
</b>Solar Academy Manager | SMA America <o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto">+1 916 918 9412<u><br>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:11.0pt"> </span><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">From:</span></b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif"> RE-wrenches <<a href="mailto:re-wrenches-bounces@lists.re-wrenches.org" target="_blank">re-wrenches-bounces@lists.re-wrenches.org</a>>
<b>On Behalf Of </b>scot.arey--- via RE-wrenches<br>
<b>Sent:</b> Thursday, July 17, 2025 8:11 AM<br>
<b>To:</b> RE-wrenches <<a href="mailto:re-wrenches@lists.re-wrenches.org" target="_blank">re-wrenches@lists.re-wrenches.org</a>><br>
<b>Cc:</b> <a href="mailto:scot.arey@solarcentex.com" target="_blank">scot.arey@solarcentex.com</a><br>
<b>Subject:</b> [RE-wrenches] Is there a domestic content reqt for batteries effective now? For Residential?</span><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-family:"Calibri",sans-serif"> </span><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto">I consider myself mostly pretty aware of policy issues that effect business but this paragraph in a Seeking Alpha investment article caught my eye. Is there a new domestic content
reqt for batteries in residential installations?<o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"> <o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto">"The higher domestic content batteries comply with the new requirement in the U.S. federal budget law, which retroactively enforces a 45% U.S.-sourced materials threshold for solar
and battery products starting June 16, 2025." <a href="https://seekingalpha.com/news/4468352-enphase-energy-begins-shipments-of-iq-battery-5p-with-higher-domestic-content#source=first_level_url%3Aportfolio%7Ccontent_type%3Aall%7Csection%3Aportfolio_content_unit%7Csection_asset%3Alatest%7Cline%3A1" target="_blank">
https://seekingalpha.com/news/4468352-enphase-energy-begins-shipments-of-iq-battery-5p-with-higher-domestic-content#source=first_level_url%3Aportfolio%7Ccontent_type%3Aall%7Csection%3Aportfolio_content_unit%7Csection_asset%3Alatest%7Cline%3A1</a><o:p></o:p></p>
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<div style="margin-top:12.0pt;margin-bottom:12.0pt;min-width:424px" id="m_-7382119817240028177m_6926212824387405662m_-7516091401063015440m_2015335313983244438m_8882381334242288057LPBorder_GTaHR0cHM6Ly9zZWVraW5nYWxwaGEuY29tL25ld3MvNDQ2ODM1Mi1lbnBoYXNlLWVuZXJneS1iZWdpbnMtc2hpcG1lbnRzLW9mLWlxLWJhdHRlcnktNXAtd2l0aC1oaWdoZXItZG9tZXN0aWMtY29udGVudCNzb3VyY2U9Zmlyc3RfbGV2ZWxfdXJsJTNBcG9ydGZvbGlvJTdDY29udGVudF90eXBlJTNBYWxsJTdDc2VjdGlvbiUzQXBvcnRmb2xpb19jb250ZW50X3VuaXQlN0NzZWN0aW9uX2Fzc2V0JTNBbGF0ZXN0JTdDbGluZSUzQTE.">
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<td width="100%" valign="top" style="width:100.0%;border:none;padding:9.0pt 27.0pt 9.0pt 9.0pt">
<div style="margin-right:6.0pt;margin-bottom:9.0pt" id="m_-7382119817240028177m_6926212824387405662m_-7516091401063015440m_2015335313983244438m_8882381334242288057LPTitle719638">
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:16.0pt;font-family:"Segoe UI Light",sans-serif"><a href="https://seekingalpha.com/news/4468352-enphase-energy-begins-shipments-of-iq-battery-5p-with-higher-domestic-content#source=first_level_url%3Aportfolio%7Ccontent_type%3Aall%7Csection%3Aportfolio_content_unit%7Csection_asset%3Alatest%7Cline%3A1" target="_blank"><span style="text-decoration:none">Enphase
Energy begins shipments of IQ Battery 5P with higher domestic content - Seeking Alpha</span></a></span><o:p></o:p></p>
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<div style="margin-right:6.0pt;margin-bottom:9.0pt;max-height:100px;overflow:hidden" id="m_-7382119817240028177m_6926212824387405662m_-7516091401063015440m_2015335313983244438m_8882381334242288057LPDescription719638">
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:10.5pt;font-family:"Segoe UI",sans-serif;color:#666666"><a href="https://seekingalpha.com/news/4468352-enphase-energy-begins-shipments-of-iq-battery-5p-with-higher-domestic-content#source=first_level_url%3Aportfolio%7Ccontent_type%3Aall%7Csection%3Aportfolio_content_unit%7Csection_asset%3Alatest%7Cline%3A1" target="_blank"><span style="color:#666666;text-decoration:none">Discover
Enphase Energy's new IQ Battery 5P with increased U.S.-sourced materials, complying with updated federal standards.</span></a></span><o:p></o:p></p>
</div>
<div id="m_-7382119817240028177m_6926212824387405662m_-7516091401063015440m_2015335313983244438m_8882381334242288057LPMetadata719638">
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:10.5pt;font-family:"Segoe UI",sans-serif;color:#A6A6A6"><a href="https://seekingalpha.com/news/4468352-enphase-energy-begins-shipments-of-iq-battery-5p-with-higher-domestic-content#source=first_level_url%3Aportfolio%7Ccontent_type%3Aall%7Csection%3Aportfolio_content_unit%7Csection_asset%3Alatest%7Cline%3A1" target="_blank">seekingalpha.com</a></span><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><a href="https://seekingalpha.com/news/4468352-enphase-energy-begins-shipments-of-iq-battery-5p-with-higher-domestic-content#source=first_level_url%3Aportfolio%7Ccontent_type%3Aall%7Csection%3Aportfolio_content_unit%7Csection_asset%3Alatest%7Cline%3A1" target="_blank"><span style="color:windowtext;text-decoration:none"> </span></a><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><a href="https://seekingalpha.com/news/4468352-enphase-energy-begins-shipments-of-iq-battery-5p-with-higher-domestic-content#source=first_level_url%3Aportfolio%7Ccontent_type%3Aall%7Csection%3Aportfolio_content_unit%7Csection_asset%3Alatest%7Cline%3A1" target="_blank"><span style="color:windowtext;text-decoration:none">Wanting
to make sure I'm not setting up this years customers for issues getting the 30% Federal tax credit/</span></a><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><a href="https://seekingalpha.com/news/4468352-enphase-energy-begins-shipments-of-iq-battery-5p-with-higher-domestic-content#source=first_level_url%3Aportfolio%7Ccontent_type%3Aall%7Csection%3Aportfolio_content_unit%7Csection_asset%3Alatest%7Cline%3A1" target="_blank"><span style="color:windowtext;text-decoration:none"> </span></a><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><a href="https://seekingalpha.com/news/4468352-enphase-energy-begins-shipments-of-iq-battery-5p-with-higher-domestic-content#source=first_level_url%3Aportfolio%7Ccontent_type%3Aall%7Csection%3Aportfolio_content_unit%7Csection_asset%3Alatest%7Cline%3A1" target="_blank"><span style="color:windowtext;text-decoration:none"> </span></a><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><b><a href="https://seekingalpha.com/news/4468352-enphase-energy-begins-shipments-of-iq-battery-5p-with-higher-domestic-content#source=first_level_url%3Aportfolio%7Ccontent_type%3Aall%7Csection%3Aportfolio_content_unit%7Csection_asset%3Alatest%7Cline%3A1" target="_blank"><span style="color:windowtext;text-decoration:none">Howard
"Scot" Arey</span></a></b><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><b><a href="https://seekingalpha.com/news/4468352-enphase-energy-begins-shipments-of-iq-battery-5p-with-higher-domestic-content#source=first_level_url%3Aportfolio%7Ccontent_type%3Aall%7Csection%3Aportfolio_content_unit%7Csection_asset%3Alatest%7Cline%3A1" target="_blank"><span style="color:windowtext;text-decoration:none">Owner,
Solar CenTex</span></a></b><o:p></o:p></p>
</div>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><a href="https://seekingalpha.com/news/4468352-enphase-energy-begins-shipments-of-iq-battery-5p-with-higher-domestic-content#source=first_level_url%3Aportfolio%7Ccontent_type%3Aall%7Csection%3Aportfolio_content_unit%7Csection_asset%3Alatest%7Cline%3A1" target="_blank"><span style="color:windowtext;text-decoration:none"> </span></a><o:p></o:p></p>
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PV Installation Professional</span></a><o:p></o:p></p>
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