The Climate Law Is Helping Bring Solar to More Apartment Buildings | Canary Media

The tax-credit transfer markets created by the Inflation Reduction Act are boosting clean energy in tough-to-crack markets — like rooftop solar on multifamily housing.

Earlier this month, renewable energy developer Black Bear Energy and clean-energy finance company Evergrow unveiled a set of solar projects structured to make the most of the climate law’s tax credit bonanza.

It’s a relatively small solar investment — 556 kilowatts of projects across several multifamily properties in California and Washington, D.C., owned by real estate investment trust Equity Residential.

But as a first-of-its-kind application of the Inflation Reduction Act’s new tax-credit transferability rules, it’s a pretty big deal, says Evergrow CEO James Richards. His company managed the sale of the tax credits for the solar projects owned by Equity Residential to companies that wanted to reduce their tax burdens…

Read the full story at Canary Media: https://www.canarymedia.com/articles/solar/the-climate-law-is-helping-bring-solar-to-more-apartment-buildings