News & Insights
Stay informed with the latest developments and expert perspectives on tax credits from Mickelson & Company. Our articles offer thorough analysis and up-to-date insights into the railroad and renewable energy sectors. Utilize this knowledge to strengthen your strategic planning in these crucial areas.
45Z Transfer Pricing in 1H 2026: What’s Actually Moving the Bid
The first half of 2026 marks the transition of Section 45Z clean fuel production tax credits from an emerging concept to an execution-driven market. After a slow and uncertain 2025, pricing is now less about headline credit value and more about how transactions are structured, documented, and delivered.
Webinar: Turning 45Z Tax Credits into Climate Capital
Hosted by Timothy Daniel of Rimba AI for San Francisco Climate Week 2026, Mickelson & Company's Vice President of Renewables & Legal Counsel Faith Larson discusses the Section 45Z tax credit, one of the most favorable tax credits for a corporate purchaser.
Major Funding Opportunity for Short Line Railroads: FY 2025-2026 CRISI Grants Now Open
The Federal Railroad Administration has released the Notice of Funding Opportunity for the Consolidated Rail Infrastructure and Safety Improvements (CRISI) Program, making more than $2.039 billion available for eligible rail projects. Applications are due June 22, 2026.
Five Things to Consider in a Tax Credit Transfer
Navigating the landscape of tax credit transfers requires a strategic approach that goes far beyond simply finding the lowest price. By focusing on these key considerations, investors can secure high-quality credits that offer both immediate value and enduring peace of mind.
Webinar: Risk Mitigation Strategies for Tax Credit Direct Transfers
As the landscape for renewable energy financing continues to evolve, a sharper focus is being placed on the mechanics of the transferable tax credit market. On March 25, 2026, a panel of industry experts convened for a webinar titled "Tax Credit Direct Transfers Risk Mitigation Strategies" to discuss the opportunities and inherent risks for buyers and sellers in this burgeoning sector.
A Solution to the §45Z Buyer-Size Mismatch
As 2025 tax year filing nears, mid-sized companies are using "buyer’s clubs" to access Section 45Z renewable energy credits. These innovative fund structures allow smaller taxpayers to pool resources into LLCs, overcoming high entry costs to secure the tax benefits typically reserved for large corporations.
The Tax Broker/Advisor as Quarterback in Section 45Z Credit Transactions
Navigating the Section 45Z tax credit is a game of inches; it requires a transaction “quarterback” to align the interests and priorities of biofuel producers and corporate taxpayers.
Registration Open for March 25 Webinar on Tax Credit Direct Transfers: Risk Mitigation Strategies
Please join experts from Mickelson & Company, CliftonLarsonAllen, Aon, and Husch Blackwell as they present a webinar on March 25 from noon to 1 p.m. CDT on Tax Credit Direct Transfers: Risk Mitigation Strategies.
Section 45Z: Proposed Regulations Provide Clarity and Certainty
After a year of anticipation, the U.S. Department of the Treasury and the Internal Revenue Service (IRS) published long-awaited proposed regulations for the Section 45Z Clean Fuel Production Tax Credit on Feb. 4, 2026.
What Buyers Want to See: The 5 Documents That Move Price (and Close Time) for Transferable Renewable Energy Tax Credits
In the transferable tax credit market, corporate tax departments are placing greater emphasis on documentation quality and seller creditworthiness. These factors are now driving meaningful spreads, even between credits originating from similar project types. Buyers are favoring credits supported by strong counterparties with strong due diligence documentation to reduce overall transaction friction.
Viridi Announces Sale of First Section 48 Investment Tax Credits from Magnolia Landfill RNG Project in Baldwin County, Alabama
Viridi Energy (“Viridi”), a Warburg Pincus portfolio company and a leading renewable natural gas (RNG) platform, today announced the successful sale of its first Investment Tax Credits (ITCs) under Section 48 related to Viridi’s landfill gas-to-RNG project at Magnolia Landfill in Baldwin County, Alabama. Mickelson & Company served as the broker for this project.
How §45Z Creates Incremental Yield for Corporate Buyers
The Inflation Reduction Act (IRA) of 2022 created certain transferable tax credits that have evolved from theory to a strategic asset class for finance and taxation experts. As this market continues to mature, pricing differences have emerged across credit types, particularly among Sections 45X, 45Y, and 45Z, creating a value-add opportunity for corporate buyers.
Webinar: Benefits to Corporate Buyers of a 45Z Tax Credit Purchase
Learn more about the benefits of a 45Z tax credit purchase for the corporate buyer, including the centerpiece of due diligence – the tax credit opinion, how to maximize value and mitigate risk in a 45Z transaction, and regulatory updates.
Considerations for Buyers of Section 45Z Transferable Tax Credits
The Inflation Reduction Act introduced market transferability for numerous clean energy incentives, and the Section 45Z Clean Fuel Production Credit is now among the most actively traded in the market. For corporate taxpayers, it presents an efficient and repeatable mechanism to reduce cash tax liabilities while achieving a measurable rate of return.
Webinar on Dec. 17: Benefits to Corporate Buyers of a 45Z Tax Credit Purchase
Please join Mickelson & Company as we present a webinar on Dec. 17 from 11:30 a.m. to 12:30 p.m. CST on the Benefits to Corporate Buyers of a 45Z Tax Credit Purchase.
Section 45Z and the Fiscal-Year Loophole: What Tax Credit Transfer Participants Should Know
Section 45Z’s fiscal-year substitution language opens a temporary but meaningful opportunity if executed correctly for clean-fuel producers whose tax years began before 2025.
Is the Traditional Tax Equity Structure Outdated by Transferable Credits?
While tax equity provides the economic value by monetizing both credits and depreciation, the cost, complexity, and time commitment are prohibitive for some. Tax credit transferability offers an efficient and inexpensive way to monetize investments.
Accelerating Transaction Efficiency in Transferable Tax Credit Deals
The growing market for renewable energy transferable tax credits has introduced new opportunities for both developers and investors — but it has also highlighted the need for operational precision.
Florida Central Railroad: From Application to Obligation
Mickelson & Company partnered with Florida Central Railroad (FCEN) to secure and deliver a $7.3 million Federal Railroad Association (FRA) Consolidated Rail Infrastructure and Safety Improvements (CRISI) grant to modernize Central Florida’s freight network.
Act Now: The Window for §45Z Tax Credit Monetization Is Wide Open
Learn technical guidance on buying and selling credits, the evolving rules under the One Big Beautiful Bill Act (OBBBA), implications for estimated tax payments, and key diligence considerations.