Forward Together Wisconsin (FTW) has put together an educational event focused on helping tax exempt organizations (like houses or worship, nonprofit organizations, and municipalities) find ways to leverage direct pay (sometimes called ‘elective pay’) to pay for clean energy projects. If you’re in the tax exempt ‘world,’ you may have looked at tax credits and thought, “These would be nice… if we paid taxes!” Well, funny you thought that (if you did): an aspect of the Inflation Reduction Act that too few people know about is that many of the tax credits can be paid to you directly! They are, effectively, non-competitive grants to help offset the costs of these upgrades. While there is admittedly a lot of paperwork involved… at its core the idea is simple: do a qualified project in 2025, get a check in 2026. For how much? That is among the particulars FTW will get into; but most commonly, 30%.
What kind of projects are we talking about:
- Solar PV panels
- Electrical Vehicle (EV) chargers
- Geothermal heat and cooling
- Battery storage
If you’re interested in increasing your organization’s budget by decreasing its energy burden, then this will be a great event for you.