Å·ÃÀÇéɫƬ

What are transferable tax credits?

Transferable tax credits reduce the cost of capital and allow developers and manufacturers to recycle capital more quickly. Developers and manufacturers can also take advantage of shortened transaction timelines and the ability to sell credits to a broader pool of corporate tax payers compared to traditional tax equity structures.

The result? Since 2022, energy and manufacturing tax credits have been driving a resurgence of US manufacturing and catalyzing innovations and infrastructure all across the country. Crux’s research indicates that every dollar of federal tax credit drives five dollars of private sector investment. Research from Å·ÃÀÇéɫƬ and ICF shows that energy tax credits will drive $1.9 trillion in growth and create 13.7 million jobs.

What does the transferable tax credit market look like?

The transferable tax credit market is growing and maturing rapidly. Crux estimates that $30 billion of tax credit transfers occurred in 2024. The market also showed a trend toward diversification over the year — while wind and solar dominated the first half of 2024, investments in manufacturing, critical minerals, nuclear, geothermal, and biofuels made up more than 70% of the transferable tax credit market in the second half of 2024.

For an in-depth look at the market, read Crux’s .

Why has Å·ÃÀÇéɫƬ Partnered with Crux?

Å·ÃÀÇéɫƬ’s partnership with Crux makes tax credit transfers more accessible to the clean energy industry. Crux is the industry’s central platform, providing developers and manufacturers with access to the largest network of tax credit buyers, market-standardized documentation to streamline transactions, critical tools and data, and to build a robust and efficient market.

Through our partnership, Å·ÃÀÇéɫƬ members have access to discounts on transferable tax credit transaction fees as well as exclusive data and insights on the evolving market throughout the year.

A Word from Susan Nickey

Capitalizing on the tremendous growth opportunity for our clean energy sector and maximizing the tax incentives provided by the IRA requires expanding the tax equity investor base. Partnering with Crux provides the industry with critical tools, data, and pricing transparency to build a robust and efficient market for tax credit transfer transactions. I am thrilled to see Å·ÃÀÇéɫƬ members gain access to key resources to help accelerate the deployment of clean energy solutions.

More About Crux

Crux is the capital markets technology company changing the way clean energy and manufacturing projects are financed in the US. Crux’s platform, market intelligence, and expert team help developers and manufacturers raise capital through all stages of project development and operation. The company’s first offering is the leading platform for tax credit transfers. Since its launch in 2023, Crux has raised more than $27 million in funding from venture capital and strategic investors. Crux’s world-class team brings together expertise from energy, tax, finance, government, and technology to power an abundant, resilient, and secure energy future. For more information, visit .

Å·ÃÀÇéɫƬ does not participate in the brokering, sale or marketing of tax credits.  All information regarding the tax credits and Crux’s program is available through Crux and on Crux’s website, which is an external site not maintained by Å·ÃÀÇéɫƬ; to learn more, please refer to Crux’s website and materials.  Å·ÃÀÇéɫƬ has not vetted or performed any review of the underlying tax credits being sold or being offered for sale on the Crux marketplace, or of any of the representations or information Crux provides on its website or marketplace. Å·ÃÀÇéɫƬ may receive compensation from Crux if referred parties enter into a tax credit transaction on the Crux marketplace.