Congress and President Biden enacted the Inflation Reduction Act, Pub. L. No. 117-169 (IRA), on August 16, 2022, in part to incentivize investments in renewable or “green” energy. These incentives provided for the direct sale of certain federal income tax credits to third parties.
The market for these credits has grown quickly, with 2024 first-half transactions totaling in the range of $9 billion to $11 billion, according to Crux Climate Inc., which has produced a mid-year report suggesting the volume will continue to accelerate, reaching $20 billion to $25 billion by the end of the year.
While sales of these ...
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