Transferability and direct pay are ‘game changers’ for US clean energy development

A 137MW BESS connected to the California grid by RWE recently. Standalone BESS is expected to benefit from new tax equity rules being brought in by the IRS. Image: RWE.
New transferability and direct pay provisions for clean energy tax credits are a “game changer for renewable energy development” in the US, Shearman & Sterling partner Mona Dajani told Energy-Storage.news.

The Internal Revenue Service (IRS) released its eagerly-anticipated guidance on the two new provisions in mid-June, and the industry has until mid-August to comment on the proposals.

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