If you’re a forward-thinking company or innovative developer considering biogas projects, time is of the essence to maximize your return on investment. The Inflation Reduction Act of 2022 (IRA) extended the Investment Tax Credit (ITC). It has the potential to offset biogas project capital expenses by a significant 30-50%. With a fast-approaching deadline, you have less than a year to start construction if you aim to reduce capital costs by taking advantage of the ITC.
At Mead & Hunt, we stand ready to assist you in developing a project plan to meet these crucial deadlines. Our team brings experience in both physical work and safe harboring methods aimed to meet the ITC’s “begun construction” requirement. Physical work can include a variety of on-site or applicable off-site tasks. Safe harboring presents even more options.
However, just meeting these requirements may not benefit your overall project if your front-end engineering work is incomplete. Our approach delivers both top-notch design work and expedited engineering design. Learn how to take advantage of these game-changing, yet time-sensitive, incentives. Reach out to us to discuss the feasibility and concept engineering of your projects.
Note: This article is intended for informational purposes only. While Mead & Hunt is an architectural, engineering, and construction (AEC) firm, we are not tax advisors. We regularly collaborate with tax advisors for tax-related matters. For specific advice, always consult a professional. This communication does not establish an advisor-client relationship.
