Latest news with #ITCs
Yahoo
3 days ago
- Business
- Yahoo
Solar stocks sent reeling by Congress
Solar stocks sent reeling by Congress originally appeared on TheStreet. The solar industry has been trading jabs all year, but Washington may have delivered the knockout punch. Consequently, solar stocks have taken their investors on a steep slide, with the trend pointing mostly south. 💵💰💰💵 For the better part of the year, Washington's response to any clean energy talk has been lukewarm (at best). Unsurprisingly, the ride has been rough, with bankruptcies and brutal sell-offs. Funny how the 'Big Beautiful' bill could throw a wrench in what otherwise was a promising trend. It's no secret that the solar industry, in general, relies on fragile economics. Tax credits aren't just niceties; they're essentially the linchpins underpinning the entire solar value chain. Take them out of the equation, and everyone from rooftop solar financiers to utility suppliers loses demand, cost advantages, and bidding power. For residential solar businesses like Enphase () and Sunrun () , the 30% federal Investment Tax Credit, or ITC, makes its systems affordable enough to spark demand. Additionally, it boosts fuel install volumes, software fees for Enphase, and higher leasing cash flows for Sunrun. Strip that away, and its returns shrink dramatically, as do the growth stories. Similarly, on the utility side, First Solar () leans on Production Tax Credits, or PTCs, and transferable ITCs to score big utility-scale deals. PTCs boost returns over a ten-year period, while transferable credits help developers unlock upfront cash flow. That combo fattens the margins on its thin-film tech and makes contracts much more attractive. That said, it's worth understanding how these solar bellwethers actually make money because it's not always straightforward. Enphase sells microinverters that sit under rooftop panels, turning sunlight into usable home power. Add batteries and monitoring software, and it's a hardware-plus-subscription play. Sunrun takes a different approach, think of it as a solar utility. It leases panels and batteries to homeowners, collecting monthly payments while handling all the upkeep. Nevertheless, it's a lot more sensitive to interest rates and policy shifts. First Solar, on the flipside, plays at the utility level. It builds massive solar farms with its low-cost, U.S.-made thin-film panels while profiting from one-time sales and ongoing maintenance deals. More On Solar: First Solar Stock Falls. Wall Street Is Split on Fate of Renewables. Macy's is selling a 'well-designed' $399 solar panel for $208 that shoppers say is easy to set up Amazon is selling 'exceptional' $70 outdoor solar lights for just $35, and shoppers say they're 'the best' What ties it all together? Tax credits. ITCs and PTCs help drive demand, improve margins, and unlock greater financing. Solar stocks have nosedived, post-market Monday, June 27, and regular trading Tuesday, June 18, after Senate Republicans proposed changes to President Trump's tax and spending bill. The amendments threaten to phase out solar and wind tax credits fully by 2028. The shift will likely send capital fleeing from solar to sectors with longer government backing. Even First Solar stock, arguably more protected due to its U.S. footprint, has taken a massive beating. Solar Energy Industries Association President and CEO Abigail Ross Hopper remarked. "This bill makes it harder to do business in America for U.S. manufacturers and small businesses and will undoubtedly lead us to an energy-strained economy with higher electric bills over the next five years." Needless to say, the timing couldn't have been any worse for solar stocks. Sunnova's recent Chapter 11 filing landed right when the residential solar space wobbled. With a $9–11 billion debt load and just $13.5 million in cash, the Houston-based installer laid off 700 employees and scrambled to sell assets for some relief. Sunnova wasn't alone, though, with Solar Mosaic also filing for bankruptcy, exposing cracks in the solar model. Then came California's controversial AB 942 bill, gutting solar resale economics. The bill forces homes with solar to switch to the NEM 3.0 net metering plan, slashing credit payouts by 80% whenever ownership changes. Hence, it's a one-two punch for an industry already on its knees. At the time of writing, the Invesco Solar ETF () is down 10% in regular trading on Tuesday, breaking below the $32 level and extending its six-month slide. Enphase has nosedived 26% so far today, bringing its losses to over 52% in six months. First Solar shed 18%, down more than 24% over the 6-month period. SunRun fared the worst, crashing 42% to $5.63 and flirting with penny stock territory. Moreover, it's now down over 54% in just a month. Solar stocks sent reeling by Congress first appeared on TheStreet on Jun 17, 2025 This story was originally reported by TheStreet on Jun 17, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
02-06-2025
- Business
- Yahoo
Ameresco Generates over $70 Million in Cash Proceeds from Sale of RNG-Related Investment Tax Credits
RNG Tax Credit Sale Underscores Ameresco's Innovation in Clean Energy Finance FRAMINGHAM, Mass., June 02, 2025--(BUSINESS WIRE)--Ameresco, Inc., (NYSE: AMRC), a leading energy solutions provider dedicated to helping customers navigate the energy transition today announced the successful sale of approximately $71 million in Investment Tax Credits (ITCs) generated from three of its landfill-gas-to-renewable natural gas (RNG) projects. These projects, which Ameresco developed, constructed, financed, and currently operates, were placed in service in 2024. This transaction marks Ameresco's third ITC sale to a corporate buyer and its first sale of RNG tax credits under the transferability rules, demonstrating the company's ability to capitalize on clean energy incentives and project financing through multiple means and a diversified pool of lenders and investors. "We are excited to complete our first RNG tax credit sale, which reflects the growing value and market confidence in renewable natural gas as a critical component of the clean energy transition," said Mike Bakas, President of Renewable Fuels at Ameresco. "This milestone builds on our recent success monetizing solar and battery storage tax credits, including our landmark transaction with MassMutual, and demonstrates our ability to leverage a variety of financial structures to unlock value from our energy assets." STX Group served as the exclusive facilitator for Ameresco in this transaction. Ameresco remains committed to advancing sustainable energy solutions and will continue to explore opportunities to monetize its diverse portfolio of energy assets. For more information about Ameresco and its firm, renewable fuel solutions, visit About Ameresco, in 2000, Ameresco, Inc. (NYSE: AMRC) is a leading energy solutions provider dedicated to helping customers reduce costs, enhance resilience, and decarbonize to net zero in the global energy transition. Our comprehensive portfolio includes implementing smart energy efficiency solutions, upgrading aging infrastructure, and developing, constructing, and operating distributed energy resources. As a trusted full-service partner, Ameresco shows the way by reducing energy use and delivering diversified generation solutions to Federal, state and local governments, utilities, educational and healthcare institutions, housing authorities, and commercial and industrial customers. Headquartered in Framingham, MA, Ameresco has more than 1,500 employees providing local expertise in North America and Europe. For more information, visit About STX GroupSTX Group is a leading global environmental commodity trader and climate solutions provider. For over 25 years, STX has been at the forefront of the global transition toward a low-carbon economy. By leveraging deep expertise in pricing pollution and emissions, STX helps cultivate trust in market-based solutions and accelerates capital flows into projects that make the world a greener place. Its trading and corporate climate solutions empower organizations to meet environmental goals with certified proof points and measurable impact. With a strong presence in the U.S.—including offices in New York and Houston—STX combines global reach with local expertise to connect participants across the full environmental commodity value chain. For more information, please visit View source version on Contacts Media Contact: Ameresco: Leila Dillon, 508-661-2264, news@ Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Business Wire
02-06-2025
- Business
- Business Wire
Ameresco Generates over $70 Million in Cash Proceeds from Sale of RNG-Related Investment Tax Credits
FRAMINGHAM, Mass.--(BUSINESS WIRE)-- Ameresco, Inc., (NYSE: AMRC), a leading energy solutions provider dedicated to helping customers navigate the energy transition today announced the successful sale of approximately $71 million in Investment Tax Credits (ITCs) generated from three of its landfill-gas-to-renewable natural gas (RNG) projects. These projects, which Ameresco developed, constructed, financed, and currently operates, were placed in service in 2024. This transaction marks Ameresco's third ITC sale to a corporate buyer and its first sale of RNG tax credits under the transferability rules, demonstrating the company's ability to capitalize on clean energy incentives and project financing through multiple means and a diversified pool of lenders and investors. 'We are excited to complete our first RNG tax credit sale, which reflects the growing value and market confidence in renewable natural gas as a critical component of the clean energy transition,' said Mike Bakas, President of Renewable Fuels at Ameresco. 'This milestone builds on our recent success monetizing solar and battery storage tax credits, including our landmark transaction with MassMutual, and demonstrates our ability to leverage a variety of financial structures to unlock value from our energy assets.' STX Group served as the exclusive facilitator for Ameresco in this transaction. Ameresco remains committed to advancing sustainable energy solutions and will continue to explore opportunities to monetize its diverse portfolio of energy assets. For more information about Ameresco and its firm, renewable fuel solutions, visit About Ameresco, Inc. Founded in 2000, Ameresco, Inc. (NYSE: AMRC) is a leading energy solutions provider dedicated to helping customers reduce costs, enhance resilience, and decarbonize to net zero in the global energy transition. Our comprehensive portfolio includes implementing smart energy efficiency solutions, upgrading aging infrastructure, and developing, constructing, and operating distributed energy resources. As a trusted full-service partner, Ameresco shows the way by reducing energy use and delivering diversified generation solutions to Federal, state and local governments, utilities, educational and healthcare institutions, housing authorities, and commercial and industrial customers. Headquartered in Framingham, MA, Ameresco has more than 1,500 employees providing local expertise in North America and Europe. For more information, visit About STX Group STX Group is a leading global environmental commodity trader and climate solutions provider. For over 25 years, STX has been at the forefront of the global transition toward a low-carbon economy. By leveraging deep expertise in pricing pollution and emissions, STX helps cultivate trust in market-based solutions and accelerates capital flows into projects that make the world a greener place. Its trading and corporate climate solutions empower organizations to meet environmental goals with certified proof points and measurable impact. With a strong presence in the U.S.—including offices in New York and Houston—STX combines global reach with local expertise to connect participants across the full environmental commodity value chain. For more information, please visit
Canada Standard
29-05-2025
- Business
- Canada Standard
4 Climate Actions for the Carney Government's First 100 Days
The dust has settled on a unique federal election, and Canada has a new government led by Prime Minister Mark Carney, backed by a fresh mandate from the voters. While the election was rightly dominated by how to deal with threats of American economic aggression, climate and energy issues played an important supporting role in the campaign. In fact, the new government was elected on a strong platform for climate action that buttresses affordability, security, and competitiveness in a world shaken by these new uncertainties. Meeting this economic moment will require building on Canada's strengths and policy successes, as well as working together with provinces and territories. With that in mind, here are our suggestions for top priorities in the new government's first 100 days. First, strengthen industrial carbon pricing. Industrial carbon pricing is Canada's single most powerful policy tool for reducing emissions and protecting industrial competitiveness, all at minimal cost to households. But it needs improvement. The Canadian Climate Institute's extensive research on these systems shows they can reduce more emissions and give investors greater certainty if they are modernized to be more stringent, more transparent, and better aligned across the country. View our latest digests The federal government has a crucial role to play in these efforts because it writes the minimum standards that underpin provincial systems across the country. It's time those standards were updated. Second, finalize methane regulations for oil and gas. Cutting methane emissions-a particularly potent greenhouse gas-is a good news story. We know how to reduce these emissions that are released in oil and gas production and pipeline transport, and doing so is cost-effective. In fact, Saskatchewan, Alberta, and British Columbia have already slashed these powerful emissions by more than half in less than a decade. The last federal government almost finished this work with draft regulations released last summer that would require methane emissions associated with oil and gas to drop 75% by to shared federal-provincial action, the oil and gas sector is already well on its way to meeting this target. Our modelling has shown that Canada can go even further to reach 80%-and the government should consider doing so. Some provinces have already taken steps towards stronger action. British Columbia, for example, has committed to near zero methane from all industrial activities by 2035. Third, finalize the Clean Electricity Investment Tax Credit (ITC). Electrifying Canada's economy with clean power will underpin the country's success in reducing national emissions and attracting investment. That means a big buildout of intra- and inter-provincial electricity infrastructure, but it will also require investment incentives like the ITCs. While the other federal ITCs were put into law last summer, the Clean Electricity ITC is still pending. Finalizing this long-promised policy will benefit all provinces and territories as they clean up their grids with billions in new investment support, all of which will ultimately help keep energy bills down. The Clean Electricity ITC is also the only one of its kind to make tax-exempt entities eligible, which will create incentives for investors including First Nations, municipalities, and pension funds. Finally, establish a made-in-Canada climate taxonomy for the financial sector. Investment decisions are being shaped by climate change more than ever before, whether from disrupted supply chains, higher costs from more frequent and severe climate impacts, or rapid shifts in clean energy and technology costs. A national climate taxonomy-a well-defined set of criteria to determine which activities and assets contribute to climate objectives-will give investors the standardized approach they need to evaluate these material risks and opportunities against their bottom line. This type of policy is already in place or under development in more than 30 jurisdictions around the world. Ultimately, a climate taxonomy will enhance our country's ability to attract investment. The federal government endorsed the approach recommended by Canada's largest financial institutions last fall, which included a world-leading framework to classify emissions-intensive activities on the path to net zero. The next step is to establish an independent body with stable funding to deliver this much-needed market guidance. Taken together, these four actions will help build on previous policy wins that have driven national emissions down to where they were in the 1990s-more than 8% below 2005 levels at last count. There is still significant work ahead to set Canada up for success in a world economy rapidly adjusting to new trade disruptions while the inevitable shift towards clean energy technologies continues to gather pace globally. While combatting climate change is a multi-decade endeavour, there is much that Canada can do right away. The next hundred days is plenty of time to implement the four actions we believe should sit atop the list of the new government's climate priorities. This post from the Canadian Climate Institute's 440 Megatonnes blog was published under Creative Commons licence. It originally appeared on Corporate Knights. Source: The Energy Mix
Yahoo
28-05-2025
- Business
- Yahoo
Ormat signs hybrid tax equity partnership with Morgan Stanley Renewables
Geothermal and renewable energy company Ormat Technologies has signed a $62m hybrid tax equity partnership with Morgan Stanley Renewables for two energy storage facilities: the Lower Rio 60MW/120 megawatt hours (MWh) facility in the US state of Texas and the Arrowleaf 35MW/140MWh storage and 42MW solar project in California. Both will be commercially operational by the end of 2025. Ormat Technologies chief executive officer Doron Blachar stated: 'This hybrid tax equity partnership is the first of its kind for our energy storage portfolio and highlights the innovative efforts we are taking to optimise the projects' economics and the company's profitability to ensure that we have the funding we need to support our long-term growth, while simultaneously helping advance our explicit goal of monetising $160 million of tax benefits this year [2025]. 'By continuing to effectively monetise the benefits of ITCs for our growing energy storage project portfolio through 2026, we are strengthening our ability to further invest in our development pipeline and ensure that we remain well-positioned to support the growing demand for energy storage projects.' Ormat was represented in the deal by Sheppard Mullin Richter & Hampton. Morgan Stanley Renewables Inc had representation from Willkie Farr & Gallagher. The company specialises in the ownership, operation, design, manufacture and sale of geothermal and recovered energy generation (REG) power plants. These plants primarily utilise the Ormat energy converter, a unit that transforms low, medium and high-temperature heat into electricity. The company has engineered, manufactured, and constructed power plants with a total gross capacity of 3.4GW, which it either owns or has installed for utilities and developers around the world. Building on its expertise in the geothermal and REG sectors, Ormat has expanded its operations to include energy storage services, solar photovoltaic (PV) systems, and combined energy storage with solar PV. The company's current total generating portfolio stands at 1,538MW. This includes a geothermal and solar generation portfolio of 1,248MW, distributed across Guadeloupe, Guatemala, Honduras, Indonesia and Kenya, and a 290MW energy storage portfolio located in the US. In February 2025, Ormat Technologies secured two 15-year tolling agreements for energy storage facilities in Israel. The projects will be developed in partnership with Allied Infrastructure, a multi-disciplinary specialist contractor. "Ormat signs hybrid tax equity partnership with Morgan Stanley Renewables" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
