The Inflation Reduction Act (IRA) marks a significant change in energy industry climate policy with a $369 billion investment, the largest in clean energy in US history, causing excitement in the sector. The extensions of the ITC and PTC plus accompanying bonus credits mean that a project can achieve ITC rates up to 50% — and in some cases higher — depending on such factors as location and domestic/community subscriber mix. Despite the positive news, the industry also continues to face challenges including political unrest, the global energy crisis, Anti-Circumvention investigation, and tariff uncertainty.
This Fireside Chat provides an overview of the IRA rules and delves into how industry players are assessing and implementing the changes brought by the IRA. It will address current guidelines for credits and apprenticeship requirements, the impact of Low and Moderate Income targets for community solar projects, the continuing specter of Anti-Circumvention investigation and tariffs on financing, and the impact of the IRA and on the renewable industry in 2023 and beyond.
- What are the rules and guidance from the IRS on IRA qualification provisions as it stands in May 2023?
- How is the implementation of the IRA proceeding to date?
- What challenges/issues/concerns are developers identifying thus far?
- Will the significant influx of incentives overwhelm the market – including equity, tax equity, and lender markets? Is the market keeping pace?
- How have the states reacted to the federal policy? Has there been a pullback in state incentives or programs?
- Are we seeing a rapid buildup of domestic supply of solar component production?
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