On Tuesday, August 27, 2024, CRCOG, in collaboration with the State of Connecticut Bipartisan Infrastructure Law Team (CTBILT) hosted representatives from the U.S. Department of the Treasury (Treasury) and U.S. Department of Energy (DOE) to learn about Elective Pay (a.k.a. Direct Pay) tax credits for clean energy projects. The tax credits were made available through enactment of the Inflation Reduction Act (IRA), and are incorporated into the tax code until 2032.
The event featured presentations from David R. Eichenthal, Senior Advisor for Policy Implementation of Treasury and Taresa Lawrence, Director State, Local, Tribal, & Territorial Policy, DOE Office of Policy.
Tax credits are available to municipalities, state governments, and non-profit organizations. A few potentially eligible projects may include solar farms, clean energy microgrids, fleet conversions to alternative fuel vehicles, electric/alternative vehicle charging stations, etc.
- Listen to the audio recording [link coming soon]
- Review the presentation slides
- Link to Program Overview
- IRS Fact Sheets
- Other available resources, for informational purposes only:
