Inventories

12 Months Ended

Dec. 31, 2021

Inventories consist of the following (in thousands):


	December 31,
	2021		2020
Raw materials	$	413,819	$	241,095
Work-in-process	93,000		41,950
Total	$	506,819	$	283,045

As of January 1, 2020, the federal government offers a Commercial ITC of 26%, which is reduced from 30%, under Section 48(a) of the Internal Revenue Code of 1986, as amended, for the installation of certain solar power facilities owned for business purposes. The Internal Revenue Service (“IRS”) provided taxpayers a safe harbor opportunity to retain access to the pre-2020 30% tax credit amount through specific rules released in Notice 2018-59. The Company sought to avail itself of this safe harbor by incurring certain costs and taking title in the year the Company took delivery, for tax purposes, of the underlying inventory and/or by performing physical work on components that will be installed in solar facilities. There was approximately $11.0 million and $37.5 million at December 31, 2021 and 2020, respectively, of inventory that would qualify for a 30% tax credit.