TL/DR –
The Inflation Reduction Act (IRA) has brought about major changes to the landscape of tax credits, introducing transferable tax credits at the federal level. The Act is opening doors for middle-market companies and smaller developers in the renewable energy sector, as discussed in an episode of “The Energy Conversation” hosted by Moss Adams and featuring tax law expert Irina Antonache. The key topics include an overview of transferable credits, the types of projects that qualify for such credits, and the financial benefits and safeguards associated with transferring credits versus waiting for refunds.
Date and Tags
June 24, 2024
Energy, Inflation Reduction Act, IRA, Irina Antonache
Overview of Impact of Inflation Reduction Act on Tax Credits
The Inflation Reduction Act (IRA) has not only affected renewable energy but also significantly altered transferable tax credits on a federal level. Understanding these changes is crucial for stakeholders, as they bring numerous implications for the market.
Benefiting Smaller Entities in Renewable Energy Sector
The IRA’s new provisions provide opportunities for middle-market players and smaller developers to become more efficient participants in the renewable energy sector.
A Discussion on the Impact of IRA on Renewable Energy Market
In an episode of “The Energy Conversation“, host Matt Kaden, Managing Director at Moss Adams, sat down with Irina Antonache, a licensed attorney at Moss Adams. They discussed the revolutionary effects of the IRA and its role in expanding the renewable energy market participant base.
Key Points from the Discussion
- Antonache gave a detailed overview of transferable credits, emphasizing their evolution and the IRA’s role in making them accessible to middle-market firms and smaller developers.
- Various project types and technologies eligible for these credits, including energy storage, renewable natural gas, and manufacturing of renewable equipment, were identified.
- Clarification was provided on the transfer of credits’ timing and financial benefits versus waiting for refunds, along with required safeguards and documentation for smooth transactions.
About Irina Antonache
Irina Antonache, a Partner at Moss Adams, has over 15 years of experience specializing in tax credits and incentives. She has facilitated billions in tax credit transfers and possesses wide-ranging expertise in renewable energy projects, making her an excellent resource for understanding the intricacies and opportunities of the IRA’s new provisions.
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