Inflation Reduction Act Energy Credits – Opportunities and Challenges for Contractors

Join the Associated General Contractors of America (AGC) and Baker Tilly for an informative webinar covering the final prevailing wage and apprenticeship (PW&A) rule, explain recordkeeping, and provide recommendations on how contractors can help their projects maintain compliance.

The Inflation Reduction Act (IRA) created game-changing opportunities for many projects to capitalize on the largest energy investment in U.S. history through tax credits. Complying with PW&A under IRA can significantly enhance credit value by five times, and therefore many project owners are asking contractors to comply.

It took nearly two years for the PW&A requirement final rule, leaving many contractors in a state of flux as project owners are pushing penalties and/or loss of credit to contractors. Yet, this also is a perfect opportunity for contractors to take advantage of the boom of projects seeking energy credits.

Unfortunately, being “in accordance with” Davis-Bacon is not enough and has created significant confusion for contractors. This is tax credit compliance for the IRS, requiring stringent record-keeping requirements for an extended period of time. Baker Tilly's Laura Cataldo will review fundamentals of the IRA base and adder credits, including domestic content, energy community and prevailing wage and how our solution can help substantiate compliance.