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.
A provision under the US Inflation Reduction Act allowing for federal tax credit transfers for solar projects is creating whole new market, giving developers flexibility to sell such credits to third parties to capture maximum value or reduce risk, says a legal and commercial advisor.
The largest climate package in US history promises to turbocharge the country’s solar sector, but considerable uncertainty remains around the impact the Inflation Reduction Act will have and how it will be enforced by authorities, writes Sean Rai-Roche.
California’s Senate has passed a bill to create a community solar programme in the state as it looks to take advantage of new incentives contained within the Inflation Reduction Act to expand access to renters and low-income households.
The US House of Representatives on Friday passed the Inflation Reduction Act (IRA). The largest climate package in US history will now move to the desk of President Joe Biden, where it is expected to be signed into law as early as today.
The Inflation Reduction Act (IRA), which includes US$369 billion in energy security and climate change programmes over the next ten years, passed in the US Senate on Sunday, paving the way for its movement to the House of Representatives and subsequent signing by President Joe Biden.
Dozens of major corporate entities in the US have joined renewable energy organisations in demanding greater action on the Biden administrations’ budget reconciliation package for clean energy and manufacturing as Congress returns from recess.
The Biden administration is said to be considering making bifacial panels exempt from extended Section 201 tariffs on solar imports, according to unconfirmed reports.
