The clean energy tax credits in the Inflation Reduction Act have not been eliminated completely. According to Accounting Today, even after the One Big Beautiful Bill Act (OBBBA), there are still some potential investments that can be made.

"There was some concern that Trump would repeal the IRA," noted Bryen Alperin, a partner and managing director at Foss & Co., which focuses on the U.S.. tax credit market for large corporate institutional investors. "But we will ultimately end up with not what we would like to have, but not as bad as what we thought it could be."

In an interview with Accounting Today, Alperin stated that most of the credits are largely intact for now. "They're phasing out, but it's a softball phaseout." He explained that basically, after 2027, the OBBBA preserves the core clean energy tax credit framework while slowly phasing down the benefits and adding new conditions in the coming years. "In other words, the worst-case fears of an immediate credit repeal did not materialize. We once again have clarity and a stable—if evolving—policy landscape for the next several years," he said.

Alperin added that this is good news for investors, saying that "The uncertainty of pending legislation is gone, transferability of credits remains intact, and many near-term projects will be shielded by generous grandfathering rules." There is a clear window of opportunity currently, he noted, to launch and finance projects with favorable terms prior to the restrictions that later phase in.

During the interview, he said that the measured approach offers stability and prevents a disruptive stop to incentives. Transferring tax credits for cash is still fully in place. Investors and developers are still allowed to monetize credits via transfers or direct pay as under current law. OBBBA did not remove these financing tools, which still gives flexibility for projects raising capital.

"We likely have several years of safe-harbored projects in the pipeline that are exempt from the new foreign entity rules and not subject to the 2027 sunset," he noted. "In fact, projects starting construction through mid-2026 can qualify for full-value credits even if completed as late as 2028-2029. This grandfathering means that many deals in 2025-2027 can proceed under existing rules and timelines, insulating them from OB3's accelerated phase-out."

Alperin stated that the act provides both clarity and a path forward, "The clean energy tax credit landscape is evolving, but remains highly investable. The near-term outlook is especially favorable for closing deals, with full value credits and transferability intact, before gradual phase-outs occur," he noted.