Direct pay proposals contained in the proposed Build Back Better Act promise to establish a system that would allow renewable energy developers to elect to receive ITC and PTC tax credits as a refundable credit. This would allow developers, who, under the current system, usually cannot efficiently utilize the non-refundable ITC and PTC credits due to not having sufficient tax liability to offset all of the otherwise available credits. This blog has covered the direct pay proposal in greater detail here.
Below is a conversation with Shannon Maher Bañaga, spokesperson for The Partnership for Clean Energy Investment (“PCEI”). PCEI is a diverse coalition working to unlock 21st century opportunities, unleash economic growth, and deliver on climate and clean energy goals by advocating for a better system of clean energy financing that includes 100% direct pay.
Q: Tell us a bit about…