SAN DIEGO, Nov. 1, 2023 /PRNewswire/ — VECKTA, a leading provider of energy project development and financing solutions for businesses, has developed critical Inflation Reduction Act (IRA) features into its product to support business to assess, quantify and deploy onsite energy solutions and unlock the significant opportunities available under this groundbreaking legislation.
The IRA is an integral part of the government’s commitment to unlock and accelerate the energy transition.
VECKTA is particularly excited about the Act’s role in enabling commercial and industrial businesses to invest in their energy systems. The IRA has increased the tax credit coverage to 30% or more while including transferability mechanisms for those who want to sell their credits. Additional bonuses are available for facilities located in “low-income communities” or “energy communities.” Knowing which level of credit your business facilities could qualify for is not straightforward, and VECKTA has developed the technology to give you quick insights. https://www.veckta.com/IRAfree10/.
Gareth Evans, CEO of VECKTA, affirms, “The IRA empowers businesses to embrace renewable and hybrid energy solutions, to generate and store energy at their facilities. When deployed correctly, these systems will reduce energy costs, mitigate the risk of power outages, and support businesses to achieve their sustainability targets. It is an incredible time to proactively invest in your business and position for long-term success.”
Using the VECKTA platform, customers can access technology that will help them assess where they can maximize incentives, design the right system, and then get competitive quotes from their marketplace. Within their marketplace network, they have access to tax specialists, IRA transfer brokers, for those who want to sell the credits, and companies who will finance energy systems entirely, take advantage of the tax credits, and offer you energy as a service.
As tax season approaches, VECKTA encourages businesses to take advantage of the benefits offered by the IRA. The “Energy Community” bonus is statutory for those projects that qualify; however, the “Low-Income Community” bonus is an application-based lottery system. The application window opened on October 19, 2023, for 30-days. To determine whether your project is ready to apply for the “Low-Income Community” bonus, click here to see the applicant checklist. For business leaders who do not yet have an onsite energy project identified, designed, and contracted, now is the time to start planning for next year’s application window.
VECKTA offers a software platform and marketplace for energy, empowering commercial and industrial businesses to finance and deploy onsite energy systems with precision. Their comprehensive solution streamlines the process of financing and deploying energy systems optimized for your specific business needs. You want to focus on running your business without needing to be an energy expert, hire in-house experts/consultants, or guess which solution and supplier is right for you. VECKTA facilitates affordable, reliable, and clean energy by representing your customer’s best interests and partnering long-term to save you millions in energy costs.
Public Relations Specialist