The Inflation Reduction Act’s investments are bearing fruit by creating good-paying jobs, strengthening our energy security, tackling climate change, and improving services the IRS provides to taxpayers. As a part of President Biden’s broader Investing in America agenda, Treasury will continue to collect and share data, analysis, and stories about how the IRA is aiding American families and workers, driving investment toward underserved communities as well as to new technologies and markets, and ensuring economic fairness.

The Inflation Reduction Act’s investments are bearing fruit by creating good-paying jobs, strengthening our energy security, tackling climate change, and improving services the IRS provides to taxpayers. The IRA development in terms of tax credits, included: Extension of the production tax credit (PTC) and the investment tax credit (ITC) for electricity generated from wind, solar and certain other renewable resources. Expansion of the resources eligible for the PTC and ITC, including by allowing the ITC for energy storage technologies such as batteries.

A Commercial & Industrial (C&I) Power Purchase Agreement (PPA) should be a simple contract whereby a host agrees to purchase power from a system owned by a project company – this should include project company’ obligations that naturally relate to providing such a service, like installing the system and a meter and maintaining insurance. A Net Metering Credit Purchase Agreement should look exactly like a PPA, except that instead of purchasing power, the host purchases net metering credits – and the system will not be co-located with the host (so no access rights, installation requirements, or any other provision relating to the site will be included).