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Course Details

Course Information
  • smart_display Format

    On-Demand

  • signal_cellular_alt Difficulty Level

    Intermediate

  • work Practice Area

    Energy

Date & Time
  • event Date

    Tuesday, September 10, 2024

  • schedule Time

    1:00 p.m. ET./10:00 a.m. PT

  • timer Program Length

    90 minutes

Credit Information

  • This 90-minute webinar is eligible in most states for 1.5 CLE credits.

$347.00
CLE
ALL

This CLE webinar will provide renewable energy counsel guidance on available options and tools for monetizing energy-related tax credits under the Inflation Reduction Act (IRA). The panel will discuss financing structures for renewable energy and carbon reduction projects, the concept of "direct pay" the ability to sell credits to third parties for cash under the IRA, and other key considerations for developers to maximize financing for projects under the IRA.

Faculty

Hilary Lefko
Partner
Norton Rose Fulbright, LLP

Ms. Lefko focuses her practice on all areas of federal income tax law, with a particular emphasis on tax controversy and renewable energy tax issues. She represents developers and investors in various energy and renewable energy projects, including transactions involving section 45 production tax credits for the production of electricity from renewable resources, including the purchase and sale of wind, open-loop biomass, landfill gas, geothermal and refined coal facilities. Ms. Lefko also advises on section 48 investment tax credits for solar projects, the Section 1603 Treasury Grant Program and other renewable energy incentives.

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James M. Berger
Partner
Norton Rose Fulbright, LLP

Mr. Berger represents sponsors, lenders, equity investors and government agencies in connections with the financing and development of energy projects, with an emphasis on renewable energy. He also has experience with the organization and operation of a wide variety of private equity funds.

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Description

The IRA encompasses significant renewables and clean energy tax credits available to renewable energy developers, producers, and investors. Counsel must understand the requirements and challenges for monetizing energy-related tax credits under the IRA.

The IRA expands tax incentives for various renewable energy resources, reshapes how eligible renewable energy projects are financed, and monetizes new and expanded tax credits. The IRA includes (1) modifications to ITC, PTC, and carbon capture requirements and limitations; (2) the inclusion of a "direct pay" option for tax credits under certain circumstances; (3) the inclusion of a tax credit transfer regime; and (4) a variety of new energy tax credits.

The new "direct pay" election and tax credit transfer provisions of the IRA provide more flexibility to finance renewable energy and carbon reduction projects, which could provide alternatives to traditional tax equity structures.

Listen as our panel discusses new green energy tax incentives and requirements under the IRA, direct pay, the transfer of tax credits to third parties, and other key considerations for developers to maximize financing for projects under the IRA.

Outline

  1. Overview of impact of the IRA on renewables
  2. New direct pay and credit transfer provisions
  3. Monetizing tax credits under the IRA
    1. Seller's perspective and challenges
    2. Buyer's limitations and considerations
  4. Financing structures, deal points, and pitfalls to avoid

Benefits

The panel will discuss these and other key issues:

  • Key energy-related provisions under the IRA
  • Inclusion of a "direct pay" option for carbon capture credit, PTC, and ITC
  • Transfers of tax credits to third parties
  • Financing structures in light of energy-related tax credits and requirements under the IRA
  • Key considerations and next steps for renewable energy developers, producers, and investors