{"id":8409,"date":"2022-09-19T10:19:47","date_gmt":"2022-09-19T15:19:47","guid":{"rendered":"https:\/\/www.bbrown.com\/insight\/inflation-reduction-act-key-renewable-energy-tax-credit-initiatives\/"},"modified":"2022-09-19T10:19:47","modified_gmt":"2022-09-19T15:19:47","slug":"inflation-reduction-act-key-renewable-energy-tax-credit-initiatives","status":"publish","type":"insight","link":"https:\/\/bbrown.com\/ca\/insight\/inflation-reduction-act-key-renewable-energy-tax-credit-initiatives\/","title":{"rendered":"Inflation Reduction Act Key Renewable Energy Tax Credit Initiatives"},"content":{"rendered":"<div class=\"wpb-content-wrapper\"><p>[vc_row row_style=&#8221;page-hero&#8221; full_width=&#8221;stretch_row_content&#8221;][vc_column]\n\t<div class=\"hero hero--wrap    \">\n\n\t\t<div class=\"hero--background-image hero--background-image-blur\">\n\t\t\t<div class=\"hero--overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"hero-background\" style=\"background: url(https:\/\/bbrown.com\/wp-content\/uploads\/2022\/09\/WP_IRARenewableEnergy_WebsiteGraphic.jpg) center center no-repeat; background-size: cover;\"><\/div>\n\t\t\t\t\t<\/div>\n\n\t\t<div class=\"hero--container\">\n\t\t\t<div class=\"container\">\n\t\t\t\t<div class=\"hero--inner width-100\">\n\n\t\t\t\t\t\n  <div class='content-heading  100%  '>\n    <p class='text-white subheading'>White Paper<\/p>\n    <h1 class='text-white    '>\n      Inflation Reduction Act Key Renewable Energy Tax Credit Initiatives\n    <\/h1>\n\t\n  <\/div>\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t<\/div>\n\n\t\n[\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;2\/3&#8243;]\n  <div class='content-heading  100% content-heading--ruled '>\n    \n    <h1 class='text-brand-dark-blue    h2'>\n      Inflation Reduction Act Key Renewable Energy Tax Credit Initiatives\n    <\/h1>\n\t\n  <\/div>[vc_column_text]<\/p>\n<h3>Green Energy Initiatives<\/h3>\n<p>President Biden recently signed the Inflation Reduction Act of 2022 (the \u201cAct\u201d). The Act is arguably the most significant renewable energy legislation in U.S. history. The Act contains numerous provisions focused on advancing investment in green climate and energy initiatives. The Act includes a variety of tax incentives intended on boosting such initiatives, including but not limited to the following:<\/p>\n<ul>\n<li>Extending the solar renewable electricity production and investment credit and increased usability for such credits.<\/li>\n<li>Extending and expanding the production tax credit for onshore and offshore wind projects (including repowering) and increased usability for such credits.<\/li>\n<li>Enhanced credits for meeting certain domestic production requirements\/ projects located in \u201cenergy community\u201d locations, low-income communities or on Indian land (as defined in the Energy Policy Act).<\/li>\n<li>Expansion of investment tax credit to standalone storage technology.<\/li>\n<li>Ability to monetize and transfer tax credits for cash.<\/li>\n<li>Extension and increase of carbon capture credit and lower carbon capture requirements for qualification.<\/li>\n<li>New credits for clean electricity, zero emission nuclear power facilities, clean hydrogen, new and used electric vehicles and other fuel production.<\/li>\n<li>Ability to use certain credits to offset corporate minimum tax.<\/li>\n<\/ul>\n<h3>Other Tax Motivated Items<\/h3>\n<p>The Act also included other revenue focused items including the following:<\/p>\n<ul>\n<li>A 15% corporate minimum tax to certain corporations (does not apply to S corporations, RICs or REITs) who have \u201cadjusted financial statement income\u201d over a three-year period that is in excess of $1 billion.<\/li>\n<li>1% tax on corporate stock buybacks including buybacks of certain subsidiaries.<\/li>\n<li>Additional $80 billion in funding to the IRS largely dedicated to tax enforcement activities and updating technology to increase audit efficiency. These enforcement activities include, among other things: (A) the determination and collection of unpaid taxes, (B) criminal investigations (including funding for investigative technology) and (C) digital asset monitoring and compliance activities.<\/li>\n<\/ul>\n<p><strong>Insurable Tax Credit Risks<\/strong><\/p>\n<ul>\n<li><strong>Structure Risk<\/strong> \u2013 Will the IRS respect the investment structure put in place between tax equity investor and sponsor?<\/li>\n<li><strong>Qualification Risk<\/strong> \u2013 Will tax credits be allowed to be claimed in full \u2013 FMV\/Qualifying Basis, Begin Construction Requirement, 80\/20 Rule, Placed in Service Requirement and Equipment Qualification?<\/li>\n<li><strong>Recapture Risk<\/strong> \u2013 Covers risk that the tax credits will be recaptured even if such credits were appropriately claimed initially.<\/li>\n<li>Coverage can be tailored to help protect against some or all of these potential losses and can include advances of taxes required to be paid or deposited with a tax authority.<\/li>\n<\/ul>\n<p>[\/vc_column_text]\t<div class='wpb_content_element text-left btn-container'>\n\t\t\t\t\t<a class='btn btn-brand-green  '\n\t\t\t\thref='https:\/\/bbrown.com\/wp-content\/uploads\/2022\/09\/White-Paper-IRA-Key-Renewable-Energy-Tax-Credit-Initiatives-Brown-Brown.pdf' target='_blank' data-toggle=''>\n\t\t\t\t<span class=\"btn-text-color--default\">Continue Reading<\/span>\n\t\t\t<\/a>\n\t\t\t<\/div>\n[\/vc_column][vc_column width=&#8221;1\/3&#8243;][vc_single_image image=&#8221;2114&#8243; alignment=&#8221;center&#8221; style=&#8221;vc_box_circle_2&#8243;][vc_separator border_width=&#8221;2&#8243; el_width=&#8221;60&#8243;][vc_column_text]<\/p>\n<h6 style=\"text-align: center;\">Joe Ehrlich, JD<\/h6>\n<p style=\"text-align: center;\">National Practice Leader<\/p>\n<p style=\"text-align: center;\">Private Equity, Family Office and Mergers &amp; Acquisitions Practice<\/p>\n<p>[\/vc_column_text][vc_single_image image=&#8221;2113&#8243; alignment=&#8221;center&#8221; style=&#8221;vc_box_circle_2&#8243;][vc_separator border_width=&#8221;2&#8243; el_width=&#8221;60&#8243;][vc_column_text]<\/p>\n<h6 style=\"text-align: center;\">Jackson Bender<\/h6>\n<p style=\"text-align: center;\">National Practice Leader<\/p>\n<p style=\"text-align: center;\">Private Equity, Family Office and Mergers &amp; Acquisitions Practice<\/p>\n<p>[\/vc_column_text][vc_single_image image=&#8221;2112&#8243; alignment=&#8221;center&#8221; style=&#8221;vc_box_circle_2&#8243;][vc_separator border_width=&#8221;2&#8243; el_width=&#8221;60&#8243;][vc_column_text]<\/p>\n<h6 style=\"text-align: center;\">Yonatan Tammam<\/h6>\n<p style=\"text-align: center;\">Vice President<\/p>\n<p style=\"text-align: center;\">Family Office and Mergers &amp; Acquisitions Practice<\/p>\n<p>[\/vc_column_text]\t<div class='wpb_content_element text-center btn-container'>\n\t\t\t\t\t<a class='btn btn-brand-dark-blue  '\n\t\t\t\thref='\/us\/contact\/contact-general\/' target='' data-toggle=''>\n\t\t\t\t<span class=\"btn-text-color--default\">Connect Now<\/span>\n\t\t\t<\/a>\n\t\t\t<\/div>\n[\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>[vc_row row_style=&#8221;page-hero&#8221; full_width=&#8221;stretch_row_content&#8221;][vc_column][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;2\/3&#8243;][vc_column_text] Green Energy Initiatives President Biden recently signed the Inflation Reduction Act of 2022 (the \u201cAct\u201d). The Act is arguably the most significant renewable energy legislation in [&hellip;]<\/p>\n","protected":false},"author":66,"featured_media":8410,"template":"","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"insight_category":[34],"class_list":["post-8409","insight","type-insight","status-publish","has-post-thumbnail","hentry","insight_category-property-casualty"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.0 (Yoast SEO v27.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Inflation Reduction Act Key Renewable Energy Tax Credit Initiatives - Brown &amp; Brown<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/bbrown.com\/ca\/insight\/inflation-reduction-act-key-renewable-energy-tax-credit-initiatives\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Inflation Reduction Act Key Renewable Energy Tax Credit Initiatives\" \/>\n<meta property=\"og:description\" content=\"[vc_row row_style=&#8221;page-hero&#8221; full_width=&#8221;stretch_row_content&#8221;][vc_column][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;2\/3&#8243;][vc_column_text] Green Energy Initiatives President Biden recently signed the Inflation Reduction Act of 2022 (the \u201cAct\u201d). The Act is arguably the most significant renewable energy legislation in [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/bbrown.com\/ca\/insight\/inflation-reduction-act-key-renewable-energy-tax-credit-initiatives\/\" \/>\n<meta property=\"og:site_name\" content=\"Brown &amp; Brown\" \/>\n<meta property=\"og:image\" content=\"https:\/\/bbrown.com\/wp-content\/uploads\/2022\/09\/WP_IRARenewableEnergy_WebsiteGraphic.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"563\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/bbrown.com\\\/ca\\\/insight\\\/inflation-reduction-act-key-renewable-energy-tax-credit-initiatives\\\/\",\"url\":\"https:\\\/\\\/bbrown.com\\\/ca\\\/insight\\\/inflation-reduction-act-key-renewable-energy-tax-credit-initiatives\\\/\",\"name\":\"Inflation Reduction Act Key Renewable Energy Tax Credit Initiatives - Brown &amp; 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Brown\"},\"image\":{\"@id\":\"https:\\\/\\\/bbrown.com\\\/ca\\\/#\\\/schema\\\/logo\\\/image\\\/\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Inflation Reduction Act Key Renewable Energy Tax Credit Initiatives - Brown &amp; Brown","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/bbrown.com\/ca\/insight\/inflation-reduction-act-key-renewable-energy-tax-credit-initiatives\/","og_locale":"en_US","og_type":"article","og_title":"Inflation Reduction Act Key Renewable Energy Tax Credit Initiatives","og_description":"[vc_row row_style=&#8221;page-hero&#8221; full_width=&#8221;stretch_row_content&#8221;][vc_column][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;2\/3&#8243;][vc_column_text] Green Energy Initiatives President Biden recently signed the Inflation Reduction Act of 2022 (the \u201cAct\u201d). The Act is arguably the most significant renewable energy legislation in [&hellip;]","og_url":"https:\/\/bbrown.com\/ca\/insight\/inflation-reduction-act-key-renewable-energy-tax-credit-initiatives\/","og_site_name":"Brown &amp; Brown","og_image":[{"width":1000,"height":563,"url":"https:\/\/bbrown.com\/wp-content\/uploads\/2022\/09\/WP_IRARenewableEnergy_WebsiteGraphic.jpg","type":"image\/jpeg"}],"twitter_card":"summary_large_image","twitter_misc":{"Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/bbrown.com\/ca\/insight\/inflation-reduction-act-key-renewable-energy-tax-credit-initiatives\/","url":"https:\/\/bbrown.com\/ca\/insight\/inflation-reduction-act-key-renewable-energy-tax-credit-initiatives\/","name":"Inflation Reduction Act Key Renewable Energy Tax Credit Initiatives - Brown &amp; Brown","isPartOf":{"@id":"https:\/\/bbrown.com\/ca\/#website"},"primaryImageOfPage":{"@id":"https:\/\/bbrown.com\/ca\/insight\/inflation-reduction-act-key-renewable-energy-tax-credit-initiatives\/#primaryimage"},"image":{"@id":"https:\/\/bbrown.com\/ca\/insight\/inflation-reduction-act-key-renewable-energy-tax-credit-initiatives\/#primaryimage"},"thumbnailUrl":"https:\/\/bbrown.com\/wp-content\/uploads\/2022\/09\/WP_IRARenewableEnergy_WebsiteGraphic.jpg","datePublished":"2022-09-19T15:19:47+00:00","breadcrumb":{"@id":"https:\/\/bbrown.com\/ca\/insight\/inflation-reduction-act-key-renewable-energy-tax-credit-initiatives\/#breadcrumb"},"inLanguage":"en-ca","potentialAction":[{"@type":"ReadAction","target":["https:\/\/bbrown.com\/ca\/insight\/inflation-reduction-act-key-renewable-energy-tax-credit-initiatives\/"]}]},{"@type":"ImageObject","inLanguage":"en-ca","@id":"https:\/\/bbrown.com\/ca\/insight\/inflation-reduction-act-key-renewable-energy-tax-credit-initiatives\/#primaryimage","url":"https:\/\/bbrown.com\/wp-content\/uploads\/2022\/09\/WP_IRARenewableEnergy_WebsiteGraphic.jpg","contentUrl":"https:\/\/bbrown.com\/wp-content\/uploads\/2022\/09\/WP_IRARenewableEnergy_WebsiteGraphic.jpg","width":1000,"height":563},{"@type":"BreadcrumbList","@id":"https:\/\/bbrown.com\/ca\/insight\/inflation-reduction-act-key-renewable-energy-tax-credit-initiatives\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/bbrown.com\/ca\/"},{"@type":"ListItem","position":2,"name":"Insights","item":"https:\/\/bbrown.com\/ca\/news-events\/"},{"@type":"ListItem","position":3,"name":"Inflation Reduction Act Key Renewable Energy Tax Credit Initiatives"}]},{"@type":"WebSite","@id":"https:\/\/bbrown.com\/ca\/#website","url":"https:\/\/bbrown.com\/ca\/","name":"Brown &amp; Brown","description":"","publisher":{"@id":"https:\/\/bbrown.com\/ca\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/bbrown.com\/ca\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-ca"},{"@type":"Organization","@id":"https:\/\/bbrown.com\/ca\/#organization","name":"Brown &amp; Brown","url":"https:\/\/bbrown.com\/ca\/","logo":{"@type":"ImageObject","inLanguage":"en-ca","@id":"https:\/\/bbrown.com\/ca\/#\/schema\/logo\/image\/","url":"https:\/\/bbrown.com\/wp-content\/uploads\/2021\/12\/cropped-BBRetail002-RGBrevs.png","contentUrl":"https:\/\/bbrown.com\/wp-content\/uploads\/2021\/12\/cropped-BBRetail002-RGBrevs.png","width":1000,"height":136,"caption":"Brown &amp; Brown"},"image":{"@id":"https:\/\/bbrown.com\/ca\/#\/schema\/logo\/image\/"}}]}},"_links":{"self":[{"href":"https:\/\/bbrown.com\/ca\/wp-json\/wp\/v2\/insight\/8409","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bbrown.com\/ca\/wp-json\/wp\/v2\/insight"}],"about":[{"href":"https:\/\/bbrown.com\/ca\/wp-json\/wp\/v2\/types\/insight"}],"author":[{"embeddable":true,"href":"https:\/\/bbrown.com\/ca\/wp-json\/wp\/v2\/users\/66"}],"version-history":[{"count":0,"href":"https:\/\/bbrown.com\/ca\/wp-json\/wp\/v2\/insight\/8409\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bbrown.com\/ca\/wp-json\/wp\/v2\/media\/8410"}],"wp:attachment":[{"href":"https:\/\/bbrown.com\/ca\/wp-json\/wp\/v2\/media?parent=8409"}],"wp:term":[{"taxonomy":"insight_category","embeddable":true,"href":"https:\/\/bbrown.com\/ca\/wp-json\/wp\/v2\/insight_category?post=8409"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}