The Future of Clean Energy Projects: Tech-Driven Tax Credit Optimization
The Treasury Department released its guidance and the proposed rules regarding prevailing wage and apprenticeship requirements for the Inflation Reduction Act. With this announcement it’s clear that investors and owners involved in clean energy projects are facing a pivotal moment. This proposed rule shines a spotlight on the pressing need for embracing technology to successfully monitor and report prevailing wage compliance in order to maximize access to tax credits and incentives for these important projects. Using technology to keep tabs on your project’s efforts in meeting prevailing wage and apprenticeship requirements is a big deal for the folks building clean energy projects resulting in more than $270 billion in federal tax credits. Here’s why it matters: To sum it up, what the IRS is suggesting with this new rule in the Inflation Reduction Act is that folks in the clean energy game need to invest in technology. This investment will result in successful access to tax credits, while helping projects run smoother, increase transparency, and get clean energy projects ready for whatever the future throws their way in an ever-changing world.