Up to $9 billion in transferable tax credit transactions made in 2023 in the US

Between US$7 and US$9 billion in transferable tax credit transactions were made last year in the US, according to a report from Crux, an ecosystem for entities to transact and manage transferable tax credits.

The domestic clean energy infrastructure market is expected to grow even further in 2024 as transactions last year only started after the US Department of Treasury released the guidance on transferability in June, which already grew to a third of the traditional tax equity market, estimated at US$23 billion in 2023.

Tax credits for clean energy were made transferable by the Inflation Reduction Act. The move was aimed at making it easier for companies without specialist tax credit or tax equity experience to invest in clean energy.

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Source: PV Tech

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