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NEW YORK, July 31 — Basis Climate today announced the launch of its digital marketplace for transferable clean energy tax credits, giving tax-liable corporations a powerful platform to discover, diligence, and document their transactions securely and seamlessly.
The launch of Basis Climate’s exchange marks a milestone in the development of the market for U.S. clean energy tax credits. The Basis exchange not only provides matchmaking between buyers and sellers of credits, but also offers a transaction framework and client support to guide both parties through the sale. Documentation, registration, and compliance are all included as part of the platform, allowing both sides to transact with confidence.
Basis will be hosting a webinar on Tuesday, Aug. 8, 2023 at 2:00 p.m. Eastern for interested participants to walk through the platform and its functionality, as well as a Q&A session on tax credit transferability. RSVP here “Basis Climate is thrilled to launch our exchange and buyer education platform, which supports buyers in their commitment to environmental stewardship while also helping to reduce their corporate income tax liability,“ said Basis Climate Co-Founder and CEO Erik Underwood.
Underwood added that the launch of the exchange marks the first step in the company’s mission to offer a suite of tools to corporate buyers that include:
Capital solutions that support market liquidity;
Risk management for high-confidence transactions; and
Analytics to support better price discovery compliance
A novel provision of the 2022 Inflation Reduction Act (IRA) effectively created a market for clean energy tax credits by allowing for their one-time transfer to other federal tax paying entities – thereby making it easier for developers to raise the capital they need to finance their projects. Basis expects the annual transfer volume of clean energy tax credits to grow to over $60 billion by the end of the decade, and is on track to being a significant player in this growing segment.