If your project is located in or will be used in a U.S. territory (Puerto Rico, Guam, American Samoa or the Northern Mariana Islands) and you are seeking an investment tax credit, special rules apply as to whether your project can qualify, based on pre-IRA provisions located in sections 50(b)(1) and 168(g)(4) of the tax code.

In order to be eligible for this type of credit, your project must be owned by a domestic corporation or a United States citizen that is not a bona fide resident of a U.S. territory;  a “domestic corporation” for this purpose is a corporation organized under the laws of one of the fifty states or the District of Columbia.  Therefore, projects built or used in a U.S. territory owned by a resident of a U.S. territory or a corporation organized under the laws of a U.S. territory will not be eligible.  

Note that “investment tax credit” for this purpose includes any credit based on the value of a renewable energy property that you are building or have acquired - such as the tax credit for recharging stations under section 30C, the credit for commercial clean vehicles under 45W, the credits for renewable electricity generation facilities under section 48 and 48E, or the credit for advanced renewable energy manufacturing facilities under section 48C.  

If you are located in a U.S. territory and are seeking a production tax credit, no special rules apply to you and you may qualify to the same extent as you would if located in one of the fifty states.

Ever.green is a clean energy tax credit marketplace that empowers businesses of all sizes to participate in the energy transition, meet their sustainability goals, and make a financial return. Through Ever.green, companies can purchase tax credits at a discount and commit to forward contracts for high-impact Renewable Energy Certificates (RECs) that help stand up new clean energy projects. Ever.green's marketplace includes streamlined transaction support, standard documentation, due diligence, filing, and compliance monitoring services to reduce risks and maximize efficiency for all parties. Ever.green is a marketplace for accelerating the transition to renewable energy.

We are a team of energy, regulatory, and product experts dedicated to opening up investing in renewables to everyone and accelerating our path to net-zero emissions. We are bringing new capital to the table and funding the creation of new renewable energy and storage projects.

We have seen deals challenged by misaligned expectations, and have found that a key to success in this early market is a highly curated process, where we work with both the buy side and sell side to close deals. What you get from Ever.green is a hands-on, dedicated team, legal documents to support transactions, and an ecosystem of 3rd party partners to support any diligence and filing needs.