The Inflation Reduction Act of 2022 (IRA) bolstered existing clean energy tax credits and incentives and added new ones. Looking forward to 2024, it is important to stay up to date with the qualifications for these various tax credits and incentives and the growing marketplace for transferring credits between buyers and sellers. The Internal Revenue Service (IRS) regularly releases notices and proposed regulations to provide guidance to help taxpayers benefit from these clean energy credits. Cherry Bekaert’s Energy Credits and Incentives team stays on top of these important alerts to ensure our clients are best positioned to take advantage of IRA provisions.

Brooks Nelson, Partner and Strategic Tax Leader, and Sarah McGregor, Tax Director, talk with Tim Doran, Director, and David Mohimani, Manager, from our Energy Tax Credits and Incentives team, about how companies can take advantage of these tax credits and incentives. They also discuss recent IRS guidance on how taxpayers can monetize these credits by transferring them to potential buyers.

Listen to learn more about: 

• 04:03 – IRA overview of investment and production credits
• 06:43 – Section 179D, Section 45L, improvements under IRA
• 09:03 – IRS notices and proposed regulations to maximize credits 
• 16:02 – Examples of other credit boosters based on project materials or location 
• 18:54 – IRA monetization provisions

Related Guidance

• Article: Take Advantage of New Section 45L Tax Credit Opportunities Under IRA
• Podcast: IRA Domestic Content Bonus Credit: How To Maximize Your Energy Tax Credits
• Webinar: Maximize Tax Savings Through Cost Segregation, Section 179D, and Section 45L Approach and Client Success Stories
• Podcast: Energy Savings Revolution – Section 179D for Commercial Buildings
• Article: Capitalizing on Elective Pay and Transferability of Tax Credits Under the Inflation Reduction Act
• Brochure: A Comprehensive Overview of Energy Tax Credits Under the Inflation Reduction Act of 2022