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ITC or PTC? Xendee adds IRA incentives into microgrid modeling software

October 24, 2022
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ITC or PTC? Xendee adds IRA incentives into microgrid modeling software
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By SB Employees October 24, 2022

The Inflation Discount Act will change undertaking modeling economics for the higher. The brand new incentives shall be particularly worthwhile for microgrids designs. To higher account for these new variables, Xendee is integrating newest tax incentives from the Inflation Discount Act instantly into its platform in order that engineers can see the coverage advantages on general prices or decide the capabilities related to elevated expenditure.

“These new options permit engineers to proactively design and optimize their power undertaking based mostly on the actual worth streams and incentives which can be obtainable,” stated Zack Pecenak, Lead Engineer at Xendee. “As a substitute of simply including these financial savings in later as a line merchandise, this permits Xendee to plan and optimize the system across the new tax incentives. This creates each a extra correct view of undertaking financials and permits Xendee to optimize the initiatives in mild of the incentives. As an example, the utilized tax credit score could change which applied sciences are chosen or how they’re sized or positioned.”

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To implement tax financial savings within the Xendee platform, customers are actually supplied with an prolonged widget for every relevant expertise. From right here, customers can elect to implement the tax financial savings and even choose the inducement they want to apply.

As an example, the Photo voltaic Funding Tax Credit score (ITC) is a 30% credit score that may be utilized to each residential and industrial photo voltaic PV installations. It is a flat fee and had been set to scale back to a mere 6% earlier than the passing of this invoice. Alternatively, engineers also can elect to make the most of the Manufacturing Tax Credit score, whereby they are going to be paid tax incentives based mostly on their manufacturing.

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Xendee permits the modeling of each methods in addition to the capabilities to investigate every and decide which resolution could be extra helpful to the undertaking.

Moreover, the brand new options additionally apply to the modeling of inexperienced hydrogen inside Xendee. Modeling hydrogen manufacturing, storage, and use inside Xendee already exists as a module; nonetheless, engineers are actually in a position to reap the benefits of and affiliate the $3 tax credit score per kilogram of inexperienced hydrogen produced, making this chance engaging to a number of services.

“Xendee’s new tax incentive options give choice makers a possibility to think about sustainable applied sciences which will have earlier been financially unattractive or utterly out of the scope of the undertaking,” stated Michael Stadler, co-founder and CTO of Xendee. “As an example, with the incentives for hydrogen manufacturing, a facility that by no means would have thought-about it would develop into a web exporter of hydrogen and even use it to energy their very own fleet of automobiles.”

Tags: microgrids, software program, utility-scale, Xendee

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Tags: addsIncentivesIRAITCMicrogridmodelingPTCsoftwareXendee
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