A Year on From the IRA: A Lawyer's View From Past to Future
John Leonti, head of the energy transactional practice at law firm Troutman Pepper, reflects on the year since the Inflation Reduction Act (IRA) passed, and considers what we might see going forward, in a Q&A.
This is an extract of a feature article that originally appeared in Vol.36 of PV Tech Power, Solar Media's quarterly journal covering the solar and storage industries (Premium access). It is one of two pieces from law experts on the IRA published in the journal, and an extract of the other was published yesterday.
Energy-Storage.news: What has the impact been of the IRA in the year since its passing?
John Leonti: The first thing that we noticed was the influx of new entrants into the market. Most folks outside the US, a lot of European, whether private equity, infrastructure, or utilities, conglomerates really moved into the US pretty quickly after the passage of the IRA.
For batteries, you went from a market with no investment tax credit (ITC) available for standalone storage. It had to be co-located with solar. Then you went to a market now where standalone batteries are eligible for the ITC. So the excitement level went through the roof.
Read the full article on Energy Storage News.