Crux

The 2024 Transferable Tax Credit Market Intelligence Report is packed with insights to help you navigate the evolving clean energy tax credit market. Download the report: https://lnkd.in/gB3EcUQM

It's been a big month for Crux, and we're not done yet. Please join us in welcoming Rosy A Garcia to the team to lead marketing operations. Rosy brings a wealth of experience across different aspects of marketing, but she has a soft spot for operations. When asked what brought her to Crux, Rosy responded, "My life’s mission is to leave this world a better place in any way possible, big or small. I think I can do this by helping Crux crush its goals in 2025 and on. Excited to make an impact at Crux and work with such driven, intelligent and caring human beings!" Welcome, Rosy!

Data from the 2024 transferable tax credit market paints a clear picture: transferability is driving rapid investment into clean energy and manufacturing businesses, strengthening domestic supply chains and helping to create a more resilient energy system. Key learnings from the historic first full year of transferability include: ✅ Tax credit deal pricing remained strong throughout the year. ✅ The market diversified materially over the course of 2024. ✅ Market transparency and liquidity drove greater convergence in deal pricing. ✅ The forward market began to take shape. Read more about key takeaways from 2024 and what they mean for the tax credit market.

Solar remained a key pillar of the transferable tax credit market in 2024, driving investment into domestic clean energy. As pv magazine USA points out, our recent report found that: 📈 Solar investment tax credits (ITCs) accounted for an estimated $5.75 billion in tax credit deals last year. 📈 About 72% of solar ITCs met Prevailing Wage and Apprenticeship requirements. 📈 By 4Q24, more than 30% of closed deals included a commitment to purchase tax credits in the future.

Reminder: Join Crux's Alfred Johnson and Stephanie Deterding with Timmi Kloster tomorrow at 12 pm ET for an insider's view on the transferable tax credit market. We hope to see you there!

Advanced manufacturing proved to be something of a juggernaut in the 2024 transferable tax credit market. Despite the fact that the Internal Revenue Service didn't publish final guidance on the §45X advanced manufacturing production tax credit until October 2024, the category made up the single largest segment of the tax credit market — indicating that tax credits are motivating a new wave of investment in all parts of the energy supply chain. Download Crux's 2024 Market Intelligence Report for more insights on advanced manufacturing and the tax credit market: https://lnkd.in/gB3EcUQM

As this article from Latitude Media points out, our 2024 Market Intelligence report shows that the market for transferable tax credits diversified rapidly last year. By the second half of last year, credits generated by newly eligible technologies, including advanced manufacturing, nuclear, bioenergy, geothermal, and carbon capture accounted for 67% of tax credit supply. See more insights in Latitude's coverage.

We’re excited to share our 2024 Transferable Tax Credit Market Intelligence Report. Based on Crux’s $25 billion transaction dataset, the report shows that energy and manufacturing tax credits are driving a resurgence of US manufacturing and energy infrastructure. The data shows that investments in newly eligible technologies, including manufacturing, critical minerals, nuclear, geothermal, and biofuels, made up more than 70% of the market in 2H2024. The report also covers: ✅ The 2024 transferable tax credit market, including investment structures and market pricing. ✅ Emerging standards in deal structure, terms, and risk mitigation. ✅ Trends in energy and manufacturing project finance, driven by tax credit monetization. ✅ Crux’s 2025 market outlook, including potential shifts under the new administration. Download the report: https://lnkd.in/gB3EcUQM

Transferable tax credits will catalyze $2.0 trillion in capital investments and $3.8 trillion in US economic activity, leveraging $4 of private capital for every dollar of tax credits. 📈 That's according to a recent report that our partners at the American Clean Power Association (ACP) released with ICF. In the latest episode of Crux Connects, ACP's John Hensley joins us to talk about the methodology behind that report, the key findings, and the benefits of transferability across sectors and regions.

Coming soon... Get the most authoritative look at the transferable tax credit market in our upcoming 2024 market intelligence report, launching next week. Packed with data and insights from Crux's $25 billion transferable tax credit transaction database, the report covers: 💡 The 2024 tax credit transfer market 💡 Deal terms and standards in the market 💡 Trends in energy & manufacturing project finance, driven by transferability 💡 Crux's 2025 market outlook Subscribe to our newsletter to be notified when the report is available.