Public transportation systems are engaged in diverse energy projects and federal law now allows for recouping some of your costs.
Most agencies were not eligible for tax credit monetization until the Inflation Reduction Act (IRA)’s adoption of a payment mechanism for non-taxpaying entities to realize the benefit of tax credits.
The IRA expanded tax credits for various renewable and clean energy initiatives such as investments into:
- Electric vehicles (EV’s),
- EV charging stations,
- Alternative fuels, and
- Renewable technologies like solar, wind, geothermal, and battery storage.
APTA has partnered with tax professionals from Plante Moran to outline the most applicable available credits, how to qualify for each credit, and the process for claiming each tax credit. The resources include a guidebook to relevant tax credits for transit agencies, a series of on-demand webinars about how to qualify for and claim the various credits, and calculation toolkits for each credit.
These resources are available to all APTA members.