Inflation Reduction Act Implications for Renewable Energy: Tax Credits, Extensions, Carbon Capture, and More
Modifications of ITC and PTC, 45Q Tax Credit Through Direct Pay, Tax Credit Transfers, Minimum Tax, Domestic Manufacturing
Note: CPE credit is not offered on this program
Recording of a 90-minute premium CLE video webinar with Q&A
This CLE webinar will provide counsel guidance on critical components of the Inflation Reduction Act of 2022 (the Act) related to renewable energy investing, development, and production. The panel will discuss green energy tax incentives and requirements under the Act, extensions and modifications to an investment tax credit (ITC) and production tax credit (PTC), Section 45Q tax credit and direct pay, the transfer of tax credits to third parties, and other essential items under the Act.
Outline
- Overview of impact of the Act on renewables
- ITC, PTC, and carbon capture modifications
- Tax credit transfer regime
- New energy tax credits
Benefits
The panel will discuss these and other key issues:
- Extension and modifications to ITC and PTC
- Changes to carbon capture requirements
- Inclusion of a "direct pay" option for carbon capture credit, PTC, and ITC
- Transfers of tax credits to third parties
- Modifications to carrybacks and carryforwards for tax credits
- Renewable energy tax credits for clean electricity and hydrogen
- Key considerations and next steps for renewable energy developers, producers, and investors
Faculty
Gideon Gradman
Managing Director
Baker Tilly US
Mr. Gradman, managing director with Baker Tilly Capital, LLC, joined the firm in 2019. He has more than 15 years of... | Read More
Mr. Gradman, managing director with Baker Tilly Capital, LLC, joined the firm in 2019. He has more than 15 years of management and advisory experience in the oil and gas, chemicals, electric power and waste management sectors. Mr. Gradman advises asset owners, developers and investors on developing energy infrastructure and industrial assets from deal origination, to real estate site acquisitions and divestitures, to feedstock supply, and transportation strategy, with a particular focus on oil and natural gas-related industries. He also advises universities, municipalities and regional government agencies on economic development strategies. Mr. Gradman focuses on serving clients in the firm’s transactions group through strategic advisory services.
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Matt Kaden, JD, LLM
Managing Director
Moss Adams
Mr. Kaden has practiced federal income taxation since 2007. He has special expertise in the federal income taxation of... | Read More
Mr. Kaden has practiced federal income taxation since 2007. He has special expertise in the federal income taxation of flow-through entities, including partnerships, LLCs, and S corporations, and is an industry leader in the structuring and taxation of energy transactions, particularly in the energy transition and decarbonization areas. In his previous role at North America’s largest developer of renewable energy, Mr. Kaden was responsible for the structuring and tax-advantaged financing of over $10 billion in renewable energy and decarbonization projects via tax equity and private equity, and many more through public equity and debt raises. He was also responsible for all tax advice and modeling for the company’s publicly traded yieldco and electricity hedging and trading activities.
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Durham C. McCormick, Jr.
Partner
McGuireWoods
Mr. McCormick focuses his practice on tax structuring for renewable energy transactions, with a particular emphasis on... | Read More
Mr. McCormick focuses his practice on tax structuring for renewable energy transactions, with a particular emphasis on production tax credits (PTC), investment tax credits (ITC) and Section 1603 Treasury Grants. His renewable energy experience includes project developments, joint ownership arrangements, power purchase agreements, transmission agreements, turbine supply agreements, balance of plant contracts, financings, acquisitions, divestures and operational matters. He also has significant experience representing clients with their mergers and acquisitions, finance ventures, capital raises and general governance.
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