2022 INFLATION REDUCTION
ACT
The Inflation Reduction Act introduced and expanded tax credits for clean energy technologies, providing unprecedented incentives for entities that install clean energy over the next decade. In addition to providing incentives to spur private-sector investment, the Inflation Reduction Act includes game-changing new provisions that will enable tax-exempt and governmental entities—such as states, local governments, Tribes, territories, and nonprofits—to take an active role in building the clean energy economy,
​
​
1
Solar Investment Tax Credit 30%
The investment tax credit (ITC) is a tax credit that reduces the federal income tax liability for a percentage of the cost of a solar system that is installed during the tax year
​
For more information click here
2
Tax Credit Transferability - NEW!
Transferability allows entities that can't use the applicable tax credit or elective pay option but do qualify for an eligible tax credit to transfer all or a portion of the credit to a third-party buyer in exchange for cash. The buyer and seller would negotiate and agree to the terms and pricing and the credit can be claimed by the buyer.
​
For more information click here
3
Tax Exempt "Direct Pay" Option - NEW!
Thanks to the Inflation Reduction Act’s “elective pay” (often called “direct pay”) provisions, tax-exempt and governmental entities will, for the first time, be able to receive a payment equal to the full value of tax credits for building qualifying clean energy projects. Unlike competitive grant and loan programs, in which applicants may not receive an award, direct pay allows entities to get their payment if they meet the requirements for both direct pay and the underlying tax credit.
For more information click here
For FAQ's click here
4
Electric Vehicle Charging Credit - 30%
If your business installs qualified vehicle refueling and recharging property, including electric vehicle charging equipment, it may be eligible for a credit of up to $100,000 for each charging station installed on the property.
​
For more information click here