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Business Journals
7 days ago
- Business
- Business Journals
How businesses can maximize clean energy incentives
In a recent discussion hosted by the Houston Business Journal, Traci Pelter, president and publisher, spoke with Devin Hall, managing partner for energy at Crowe LLP, to delve into the transformative impact of federal clean energy tax credits on businesses and not-for-profits. Key takeaways: 1. Expanding access to clean energy incentives The Inflation Reduction Act of 2022 has broadened the scope of clean energy tax credits, making them accessible to a wider range of entities, including not-for-profit organizations. These incentives come in two primary forms: Investment tax credits (ITCs): Based on the amount invested in qualified clean energy properties Production tax credits (PTCs): Tied to the volume of energy produced by eligible systems Notably, not-for-profits now can benefit through a "direct pay" option, allowing them to receive cash payments equivalent to the credit value, thereby monetizing their investments in clean energy projects. 2. Navigating complex compliance requirements While these credits offer substantial benefits, they come with intricate compliance obligations. Organizations must adhere to specific criteria, such as prevailing wage standards and apprenticeship requirements, to qualify. Hall emphasized the importance of engaging knowledgeable advisers to navigate these complexities and verify proper documentation, especially in anticipation of potential IRS audits. 3. Emerging market for transferable credits A significant development is the emergence of a market for transferable tax credits. Entities with substantial tax liabilities can purchase these credits at a discount, providing liquidity to developers and flexibility to buyers. Hall said this market has expanded rapidly, with estimates suggesting that $25 billion in tax credits were transferred in 2024 alone. 4. Stimulating domestic manufacturing The incentives also are driving a resurgence in U.S.-based manufacturing. Companies are relocating production facilities to the United States to capitalize on these credits, leading to increased investments in solar panel manufacturing, battery storage, and related components. Texas, in particular, is witnessing a surge in such activities, bolstering local economies and job creation. Strategic implications for stakeholders Businesses and not-for-profits aiming to use these tax credits should: Engage expert advisors: To navigate the complex eligibility and compliance landscape Maintain thorough documentation: To substantiate claims and prepare for potential audits Explore credit transfer opportunities: To optimize financial strategies and liquidity Monitor policy developments: To stay informed about evolving regulations and opportunities As the clean energy sector continues to evolve, these tax credits represent a pivotal tool for fostering innovation, sustainability, and economic growth across various industries. Crowe LLP is a public accounting and consulting firm that uses its deep industry expertise to provide audit, tax and consulting services to public and private entities. As an independent member of Crowe Global, one of the largest global accounting networks in the world, Crowe serves clients worldwide. The network consists of more than 200 independent accounting and advisory services firms in more than 130 countries around the world. To learn more, visit
Yahoo
13-05-2025
- Business
- Yahoo
Crowe boosts New York financial services consulting group
Industry veteran Gary Kozlowski will support expansion of firm's presence among New York-headquartered global financial institutions CHICAGO, May 13, 2025 /PRNewswire/ -- Crowe LLP, a leading public accounting and consulting firm, has welcomed Gary Kozlowski, CPA, as a financial services consulting partner. Kozlowski joins the firm with more than 35 years of global experience advising large financial institutions on risk management, regulatory strategies and business process improvements. In his role at Crowe, Kozlowski will lead strategic initiatives for complex, cross-functional organizations. His work will focus on growing relationships with global financial institutions headquartered in New York, building on Crowe's established presence in this key financial center. "Gary has a proven track record of delivering market solutions and services to the financial sector. His experience aligns seamlessly with our financial services (FS) strategy and vision," said Dawnella Johnson, Crowe's New York market leader and consulting leader for financial services. "His success and deep knowledge of the complex challenges faced by global financial institutions will blend perfectly with our culture of cultivating trust and working in collaboration with our clients. This is a significant addition to our team and for our expansion in the FS sector in New York." Before joining Crowe, Kozlowski served for over two decades as a senior partner at a Big 4 firm, where he advised organizations on strategy, governance, risk management, regulatory, operational and technology transformations, focused on the banking, payments, capital markets, asset management and private equity sectors. He has significant global leadership experience managing teams across North America, Latin America, Europe and Asia, bringing a global perspective and deep expertise to his clients. He is a community leader, serving as a non-profit executive board member, supporting organizations with financial planning and executing on strategic and transformation initiatives. He is currently the board chair of Junior Achievement of New York and an executive committee member and finance chair of Japan Society. "Crowe's entrepreneurial spirit and growth mindset were major draws for me," Kozlowski said. "I'm excited to contribute to a collaborative firm that emphasizes long-term trust and confidence with clients, while also leveraging Crowe's excellent reputation already established in the financial services sector. I look forward to building relationships with our FS clients and deepening our presence in the sector. I am excited to work with my new Crowe colleagues as we continue to build on the great success the firm has had and the momentum we have in the market." Kozlowski received his BS in applied economics at Cornell University and his MBA at the Stern School of Business at New York University. For more information, visit Crowe Financial Services Consulting. About CroweCrowe LLP is a public accounting and consulting firm that uses its deep industry expertise to provide audit, tax and consulting services to public and private entities. Crowe is recognized by many organizations as one of the best places to work in the U.S. As an independent member of Crowe Global, one of the largest global accounting networks in the world, Crowe serves clients worldwide. The network consists of more than 200 independent accounting and advisory services firms in more than 130 countries around the world. LinkedIn: Crowe View original content to download multimedia: SOURCE Crowe LLP 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
