SolarEdge Technologies has closed its first transaction for the sale of §45X Advanced Manufacturing Production Tax Credits for approximately $40 million, net of discounts and fees.
The credits were generated by sales of eligible, domestic-manufactured inverters in the first half of this year. .
“The Inflation Reduction Act and new §45X of the U.S. Internal Revenue Code have made it possible to bring high value energy technology manufacturing back to the United States, and we are pleased to announce our first sale of §45X tax credits backed by ‘Made in the U.S.A.’ solar inverters,” says Ronen Faier, interim CEO of SolarEdge.
“This sale represents an important milestone in the maturation of the §45X credit transfer market and demonstrates the marketability of credits backed by U.S. made inverter technology.”
The tax credits were generated from the sale of inverters produced earlier this year at SolarEdge’s facility in Austin, Texas. The facility reached a target quarterly run rate of 500 MW of inverter production in the second quarter of 2024, produced 500 MW in the third quarter and is expected to ramp production in Q4, says the company.
SolarEdge’s second U.S. facility near Tampa, Fla. began shipping Power Optimizers in Q2 of this year and is expected to reach a production capacity of approximately two million per quarter, the company adds. The facility is adding commercial inverter and Power Optimizer production starting next year.
The transaction was facilitated by the Crux Climate platform.
The post SolarEdge Closes First Section 45X Credit Sale appeared first on Solar Industry.
At left we have John Fetterman talking to people so stupid they’ll believe that it would have been wrong for the British colonists to oppose King George III in the late 18th Century, or for the people of Germany and Italy in the 1930s to stand up against Hitler and Mussolini. What about the people in today’s dictatorships, i.e., the people in Russia, China, North Korea, or any of the other 50+ authoritarian regimes around the world?
Morons tend to agree with the loudest, most aggressive voice of nationalism, regardless of how little sense it makes.
It’s a great moment of opportunity for Fetterman.
Seminal astrophysicist Carl Sagan explains why uncomfortable ideas may be banned in religion, they must not be shunned in science.
This is an important concept in American life today, as conspiracy theorists are convinced that climate change denial cannot be considered in scientific circles.
I happened to bring this up in my interview with Dr. V. Ramanathan of the Scripps Institution, who has been amassing data on global warming since the 1970s. He laughed, and explained, “If I could prove that human activity was not causing temperatures to rise, I’d be be one of the wealthiest and most famous scientists in world history.”
As suggested at left, a great deal of the hardship that has befallen the U.S. was simply bad luck. Al Gore came within a whisker of victory in 2000, a win that would have forever changed the course of our nation in terms of energy policy, education, healthcare, and international affairs.
If Bernie had become the 2016 nominee, we wouldn’t have had Hillary Clinton telling our country’s most mean-spirited and least-educated people that they were “deplorables,” ushering a criminal sociopath into the White House.
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