Practice Areas:

Renewable Energy

With the launch of its Renewable Energy Tax Credit practice Novogradac & Company LLP established itself as a leading expert in the renewable energy industry by providing value-added services based on innovative thinking and a comprehensive understanding of the business, tax and structuring issues inherent in renewable energy transactions. Our Renewable Energy Tax Credit team has been involved with more than $2 billion of renewable energy project financings to date.

Novogradac & Company LLP’s team of dedicated professionals is focused on the renewable energy industry and providing outstanding professional services. The firm’s professionals have a thorough understanding of how renewable energy tax credit financed transactions work. This knowledge and experience allows us to advise and guide developers, tax equity investors, private equity interests and lenders through these complex transactions. Our ability to meet clients’ needs in a thorough, efficient and creative manner sets us apart and helps our clients efficiently optimize the monetization of the tax benefits derived from tax credit financed renewable energy projects.

Click here for a detailed description of Novogradac & Company's Renewable Energy Services.

Novogradac & Company’s Renewable Energy Tax Credit Group’s work in the renewable energy industry includes various services in connection with:

  • Investment Tax Credits for solar and fuel cells
  • Production Tax Credits for wind and bioenergy
  • Section 1603 Treasury Grant Program
  • State Tax Credits
  • Renewable Energy Certificates

Financial Projections/Transaction Advisory

  • Transaction/entity structuring
  • Financial projection preparation
  • Evaluation of financial projections from developer/sponsor perspective
  • Overall transaction analysis and advisory
  • Tax equity investor liaison
  • Evaluation of tax equity investment term sheets
  • Construction and permanent debt advisory
  • State rebate/renewable energy certificate (REC) subsidy analysis/advisory
  • State tax credit subsidy analysis/advisory
  • Identification and resolution of key tax and business issues
  • Production tax credit safe harbor advisory services

Tax Equity Investor Services

  • Evaluation of financial projections from investor perspective
  • Evaluation of investor earnings profile
  • Investor internal rate of return (IRR) analysis
  • Investor return on investment (ROI) analysis
  • Relationship liaison for transaction participants
  • Hypothetical liquidation at book value (HLBV) analysis
  • Analysis of non-controlling interest-sponsor/developer
  • Specialized professional development training services
  • Due diligence services

Accounting and Tax Services

  • Annual financial statement audits
  • Annual tax return preparation
  • Project cost certification audits - investment tax credit/Section 1603 Treasury Grant
  • Financial projections -accountants' compilation report
  • Valuation (appraisal) reports/value letters
  • Production tax credit safe harbor accountants' reports

For more information, please contact

Stephen B. Tracy, CPA Tony Grappone, CPA