President Joe Biden signed the Inflation Reduction Act (IRA) into law, taking significant action to drive clean energy technology, innovation and manufacturing forward. With the Advanced Energy Project Credit, the IRA earmarked $10B in investment tax credits meant to lower the cost of transitioning to clean energy and instigate demand, drive investment and encourage innovation.
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The paper — Inflation Reduction Act: How to Secure Tax Credits for Clean Energy – examines the tax credit and the application process as well as how it may benefit your company’s green energy projects.
However, the application window is very short: project concept papers need to be submitted between May 31 and July 31, 2023. If enterprises were ever thinking about modernizing their assets or manufacturing sites, now is the time. By leveraging these tax credits and funding from the government, firms will be able to expedite their decarbonization journey and drive the transition to clean energy.
This paper is a must-read for leaders looking to gain extra benefits from their clean energy projects.