Up to 30% of Costs
The Inflation Reduction Act was signed into law, bringing meaningful investment tax credits to electrically–controlled variable tint glass (also known as smart glass or 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.
LEGISLATION SIGNED INTO LAW TODAY IS EXPECTED TO ACCELERATE THE ADOPTION OF SPD-SMARTGLASS FOR ARCHITECTURAL AND AUTOMOTIVE SMART WINDOWS
The passage of this bill is both a recognition of the decarbonization potential of electrochromic glass as well as the importance of the tax code as a market driver for new technologies. The bill also contained additional changes for the Investment Tax Credit (ITC) which has a direct bearing on dynamic glass, including provisions for direct pay and credit transfer mechanisms.
Get more details on the tax credit for dynamic glass here.
With the use of dynamic glass, shading devices, privacy screens or sunscreens, both external and internal, can be reduced or eliminated. Devices like external blinds and louvers block direct views. When required, dynamic glass can be deployed in its fully tinted state, taking advantage of its low shading coefficient. Used in the right capacity, it can minimize solar gains and essentially eliminate the need for external shades. This not only reduces the purchase cost of the shading devices but also eliminates the added maintenance costs. Contact QuickTint for more info on dynamic glass options.