Driving Demand: Tax Credits Fuel Growth in Renewable Energy

5 minute read | March.04.2024

Tax credits are unlocking capital and encouraging developers to pursue renewable energy projects, Orrick’s Alejandra Garcia Earley and John Eliason said in a recent interview with Infralogic.

  • The 2022 Inflation Reduction Act has led to an “explosion” in tax credit transfers that will “transform the market,” partly by making credits available to more companies, Alejandra said.
  • An advanced manufacturing production credit “is spurring foreign manufacturers to reopen stateside factories,” John said.
  • Meanwhile, the offshore wind sector is poised to play a significant role in U.S. renewable-energy production despite recent hiccups.