Between US$7 and US$9 billion in transferable tax credit transactions were made last year in the US, according to a report from Crux, an ecosystem for entities to transact and manage transferable tax credits.
US renewables asset manager Arevon Energy has reached financial close on its 157MW/150MW (600MWh) Vikings solar-plus-storage project in Imperial County, California.
The US Department of Energy (DOE) announced a new tax incentive last week (19th October) for solar and wind projects in low-income and “underserved” communities, as well as Tribal lands.
The IRS’ guidance on the domestic content tax bonus for solar projects under the IRA “makes it difficult for developers to attempt to access the 10% bonus ITC”, according to Martin Pochtaruk, president of North American solar PV manufacturer Heliene.
Clean energy trade bodies ACP, ACORE and SEIA have denounced an attempt by Republicans to roll back the Act, which has spurred unprecedented investment in the US market.
The US Treasury Department yesterday released guidance on the bonuses included in the Inflation Reduction Act (IRA) for historically fossil-fuel producing ‘energy communities’.
Canada will introduce tax credits, incentives and investment for developing and manufacturing solar PV, energy storage and other renewable energy technologies in an Inflation Reduction Act-style scheme.
