Inflation Reduction Act (2022)
Congress passed a climate and energy bill that extended the solar investment tax credit at 30% and added a production tax credit through 2032. The decade of tax credit certainty ended years of boom-bust cycles in renewable project development.
Utility-scale solar deployment accelerated sharply in 2023 through 2025 as developers locked in credits.
The stable tax base underlies today's wave of large private project financings.
energyRe's $815 million deal rests on the same IRA tax credit framework, which makes its 25-year power purchase agreements bankable.
