The transferability market for clean energy tax credits in the US has seen significant growth, with Alfred Johnson, CEO and co-founder of Crux, a New York-based sustainable finance company that enables entities to transact and manage transferable tax credits. The market for these tax credits has developed faster than anticipated due to improvements in price transparency, discoverability and standardisation. Crux estimates that US$7-9 billion of 2023 credits will be transacted and expects the market to double in 2024. Deal prices have also become more predictable within specific categories of the investment tax credit (ITC) or production tax credit. The Internal Revenue Service (IRS) has also released guidance on the qualification process for these new credits.
Solar Dominates US Energy Capacity Growth
The Federal Energy Regulatory Commission (FERC) has published data showing that solar accounted for over 75% of US electrical generating
