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Atheva, the leading online marketplace for clean energy tax credits, today announced it closed five transfers in the month of October 2023. Atheva has the only fully self-service online marketplace, with all five transactions fully concluded using the software.
These transactions were enabled by the Inflation Reduction Act of 2022 (IRA), the largest investment in clean energy in US history. While tax credits have existed for decades, the IRA allowed the transfers of such credits for the first time. It is hoped this mechanism will help unlock billions of dollars of clean energy financing.
“We’re really excited about these transactions”, said Leng Lee, Co-founder of Atheva. “Online marketplaces have brought buyers and sellers together for so many different types of products, so it’s great to see the development of the clean energy tax credit market in real time. It’s terrific to help clean energy developers unlock access to financing and grow their businesses.”
Tax equity financing is available for developers of larger clean energy projects. But that pathway hasn’t historically made sense for projects on the smaller scale. With an online marketplace, Atheva is giving developers an efficient and transparent way to get the best prices for their tax credits.
"It was easy to use Atheva's online marketplace”, said Packy Campbell, CEO Brightspot Solar. “It really is a simple process. The way their platform walked through the process made it really easy to provide information that a buyer wanted to see. I shared the information about my credit and a buyer was able to snap it up. The fees are easily the lowest I've seen and it just all worked. I'd recommend it to anyone." Brightspot Solar is a solar installation company that operates out of out of Farmington, New Hampshire and serves all of the New England area.
About Atheva
Atheva is the leading online marketplace for the transfer of clean energy tax credits. The company’s software brings buyers and sellers to transact quickly and transparently. For more about Atheva, visit www.atheva.com.
