Direct Pay: Clean Energy Incentives for Tax-Exempt Entities 2024

Banyan Infrastructure attended and spoke at Direct Pay: Clean Energy Incentives for Tax-Exempt Entities on November 19 in Salt Lake City. Thanks for connecting with us! 

Learn more about our panels:

Identifying & Mitigating Risks in Your Project

Panelists: 

• David Carpenter, Vice President of Development & Chief Legal Officer, Green Lantern Solar

• Amanda Li, COO & Co-Founder, Banyan Infrastructure

• Ruby Theresa Nahan, Researcher, Community Solar, ADDS Center, NREL

• Jaron Goddard, Associate Attorney, Wilson Sonsini Goodrich & Rosati (Moderator)

Understanding the Range of Capital Needs & Financing Options

Panelists: 

• David J. Clamage, Founder and Managing Director, Saulsbury Hill Financial

• Walter Cuculic, Senior Vice President, Director of Solar Banking, Legacy Bank & Trust 

• Anu Yadav, Managing Director, Investments, Coalition for Green Capital

• Alex Kovtunenko, Deputy General Counsel, Financing Programs, Connecticut Green Bank

• Daniel Packard, Vice President Renewable Energy, National Cooperative Bank

• Sundaresh Mahendra, Founder and CEO, Elective Power  (Moderator)

About Direct Pay: Clean Energy Incentives for Tax-Exempt Entities

The IRA created the ability for tax-exempt entities to use direct payments, or elective pay, for the full value of clean energy and decarbonizing technology tax credits. For the first time, tax-exempt entities have a pathway to directly participate in developing and owning new clean energy and other eligible projects, rather than being dependent on power purchase agreements. This ownership option can be particularly attractive as the tax credits can be combined with grants, forgivable loans, and stacked incentives/adders to greatly reduce capital expenditures.

However, making the most of clean energy tax credits utilizing direct pay will require tax-exempt entities to master the rules of this new game. Given the large cohort of tax credits available that are applicable to direct pay, each with specific guidelines, utilizing the direct pay provision to maximum effect requires specialized advice from experts who can walk tax-exempt entities through the process, explore alternatives, and outline strategies for optimizing value, mitigating risk, and avoiding potential missteps.

Infocast has put together Direct Pay: Clean Energy Incentives for Tax-Exempt Entities to provide exactly the state-of-the-art information that tax-exempt entities and their partners will need to get the full benefit of this revolutionary new regime. 

Learn more about the event here.