To amend the Internal Revenue Code of 1986 to provide an increased tax credit for combined photovoltaic and thermal technology.

Bill 117 HR 8317, also known as the "Combined Photovoltaic and Thermal Technology Tax Credit Act," aims to amend the Internal Revenue Code of 1986 to provide a higher tax credit for the installation of combined photovoltaic and thermal technology systems.

The bill proposes to incentivize the use of these innovative systems by offering a tax credit that is higher than the current tax credit available for traditional photovoltaic systems. This tax credit would apply to both residential and commercial installations of combined photovoltaic and thermal technology.

The goal of this legislation is to promote the adoption of more efficient and sustainable energy solutions, as combined photovoltaic and thermal technology systems have the potential to generate both electricity and heat from the sun's rays. By offering a higher tax credit for these systems, the bill aims to encourage more individuals and businesses to invest in renewable energy technology. Overall, Bill 117 HR 8317 seeks to support the growth of the renewable energy sector and reduce reliance on fossil fuels by providing financial incentives for the installation of combined photovoltaic and thermal technology systems.