The Inflation Reduction Act (IRA) of 2022 was signed into law on August 16th, 2022, providing a historic $369 billion of clean energy and climate investments over the next 10 years. Our team has been diving deep into the energy storage and solar tax provisions within the bill, to understand how these tax credits will affect the economics of different types of projects and which markets are poised to see increased growth as a result. This webinar is intended to provide solar and energy storage developers with actionable short- and long-term steps to fully capitalize on this historic legislation.
- Summarize the key tax credit provisions within the IRA and the impact they will have on projects, including direct pay, prevailing wage and apprenticeship requirements, transferability, and adders for domestic content, energy, and low-income communities.
- Standalone Energy Storage Tax Credit. Review the project economics (payback period, IRR, NPV) for a typical C&I standalone ESS project in California, in each of the 3 IOU territories (PG&E, SCE, SDG&E).
- Discuss what state markets are viable for standalone ESS. Review the illustrative payback period for a standalone ESS project based on different $/kW demand charges.
- Discuss best practices on how to optimally size and operate standalone energy storage systems to maximize project ROI.
- Production Tax Credit (PTC) vs. Investment Tax Credit (ITC). Illustrate how to determine if you are better off utilizing the solar PTC or ITC for your specific project.
- Other related topics: retrofitting ESS onto projects that already have PV, how this may affect the NEM-3 outcome in California and other pending successor NEM tariff decisions.
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