March 31, 2026: 2026 Market Momentum: How Developers and Investors are Moving the Needle

The renewable energy tax credit (RETC) market is emerging from "wait and see" mode following major policy updates in 2025, including the approval of the One Big Beautiful Bill Act (OBBBA) on July 4, 2025. In this episode of the Renewable Energy Tax Credit Finance Series, Michael Novogradac, CPA, and Novogradac partner Tony Grappone, CPA, take a forward-looking view of the RETC marketplace as the first quarter of 2026 comes to a close. Novogradac and Grappone discuss the current state of the developer's side of the market, highlighting increased demand for energy across the board fueled by data centers and artificial intelligence (AI). The pair also discuss the recent changes in restrictions regarding foreign entities of concern (FEOC) implemented by the OBBBA. Finally, Novogradac and Grappone turn to the investor's side of the market and discuss the state of transfer buyers, traditional tax equity investors and cash equity investors.