The Inflation Reduction Act (IRA) of 2022 was signed into law on August 16th, 2022, providing a historic $369 billion of clean energy and climate investments over the next 10 years. The expert team at Energy Toolbase has been diving deep into the energy storage and solar tax provisions within the bill, to understand how these tax credits will affect the economics of different types of projects and which markets are poised to see increased growth as a result.
While there have been tons of summary webinars out there about the IRA, this free course is intended to provide solar and energy storage developers with actionable short- and long-term steps to fully capitalize on this historic legislation.
Here are a few things you can expect to learn from the hour-long presentation:
- A summary of the key tax credit provisions within the IRA and the impact they will have on projects, including direct pay, prevailing wage and apprenticeship requirements, transferability, and adders for domestic content, energy, and low-income communities.
- Standalone Energy Storage Tax Credit. Review the project economics (payback period, IRR, NPV) for a typical C&I standalone ESS project in California, in each of the 3 IOU territories (PG&E, SCE, SDG&E).
- Discuss what state markets are viable for standalone ESS. Review the illustrative payback period for a standalone ESS project based on different $/kW demand charges.
- Discuss best practices on how to optimally size and operate standalone energy storage systems to maximize project ROI.
- Production Tax Credit (PTC) vs. Investment Tax Credit (ITC). Illustrate how to determine if you are better off utilizing the solar PTC or ITC for your specific project.
- Other related topics: retrofitting ESS onto projects that already have PV, how this may affect the NEM-3 outcome in California and other pending successor NEM tariff decisions.
Adam Gerza is the VP of Business Development at Energy Toolbase, an industry leading software platform that specializes in modeling and proposing the economics of solar and energy storage projects. He has worked in the solar industry for over 12 years in various project development and policy related roles. Prior to solar, Adam traded natural gas commodity products for 5 years for a bank and a hedge fund. He has a B.S. in finance from the University of Southern California. Adam currently serves on the board of CALSSA (California Solar and Storage Association).
As Director of Storage Markets and Policy, Jeremiah leads SEIA’s effort in energy storage integration with solar and stand-alone deployments. He supports federal as well as state storage strategy and innovation opportunities. He leads the Storage Advocacy Network as well as Energy Storage Committee working groups.
Jeremiah is a licensed Professional Engineer – specializing in grid modernization for massive renewable energy deployments. Prior he worked for the U.S. Department of Energy Solar Energy Technologies Office where he oversaw $60 million in research and development grants for innovations in solar inverters, distribution, and transmission systems. Prior to this role, he was a senior power systems smart grid analyst for Smarter Grid Solutions. Working in cleantech since 2008, he has professional experience in grid modernization, cybersecurity, microgrids, renewable energy, energy efficiency, energy storage, utility regulation, and energy policy & finance. Earlier in his career, he worked in natural gas, naval nuclear, and semiconductor manufacturing.
Chris Sefel is the Manager of Enterprise Sales at Energy Toolbase, a leading software platform that specializes in modeling and proposing the economics of solar and energy storage projects. Chris has been with Energy Toolbase since January 2020, and in their role as Enterprise Account Manager, they are responsible for managing and growing relationships with some of the company’s largest enterprise accounts.