At Crowe TXBizCon 2022, specialists discussed the latest in the ESG and energy industry. Here are the highlights.
In this TXBizCon session, we heard from Devin Hall, Crowe energy managing partner, and Chris McClure, Crowe partner and ESG services leader, on the current environmental, social, and governance (ESG) landscape.
Devin Hall spoke about the Inflation Reduction Act of 2022 (IRA) and energy tax incentives. During the session he touched on:
- A new, game-changing option in tax credit administration that allows tax credits to be sold or transferred to a third party, which allows many taxpayers to monetize the credits instead of needing a tax equity partner, which was the precedent
- Direct payment opportunities for entities that implement IRA-related initiatives, such as solar panels on buildings or charger stations in parking garages (the payouts are available even to historically tax-exempt organizations)
- Prevailing wage and apprenticeship requirements
You can read more of Devin’s insights here. For even more information on the IRA in the energy industry and potential tax savings, read this guide.