e-POSTER: Welcome to OZ: Leveraging the Opportunity Zones Incentive for Renewables and Storage
21 May 19
10:30 AM
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10:55 AM
Tracks:
Finance and Investment, Poster Presentations
Federal and state tax credits for wind are winding down, but a new federal incentive program may provide a boost to many new facilities, repowering projects, storage plus, and standalone storage. The Opportunity Zones (OZ) incentive is an attractive capital gain tax deferral and reduction mechanism that can be combined with the PTC for facilities located in geographic areas that are designated qualified opportunity zones (QOZ), which includes approximately ten percent of all U.S. census tracts, including many near major power markets. In addition, the OZ incentive is technology agnostic, available for standalone storage and transmission assets as well as new and repowered facilities, compatible with the structuring techniques investors and developers are familiar with, and offers new options for tailoring wind project financing structures. This presentation will provide an overview of the OZ program and how it can applied to new and existing wind and wind plus storage installations.