Inflation Reduction Act: The Investment Tax Credit at the Colorado School of Mines

Our IRA video series dives into the details of the recent legislation to help you understand your options.

The Inflation Reduction Act creates significant opportunities for building owners to ready their operations for long-term resiliency and eliminate deferred maintenance, realize cost savings, accelerate decarbonization and reach equitable outcomes for generations to come.

Sara Berry-Maraist, McKinstry Federal Funding Strategist, explains a real-life scenario of how the Investment Tax Credit is being applied:

McKinstry and the Colorado School of Mines have been partners for over 14 years, with goals to increase sustainability across campus and support the next generation of engineers who attend the school.

McKinstry is completing the construction of seven site solar project – six arrays are on campus buildings and one array is on a parking lot canopy. The project will offset 6-8% of overall campus energy use, which is about 2 million kilowatt hours of energy per year across a 1.5-megawatt site.

This project was underway when the ITC became available. McKinstry was able to support Colorado School of Mines in pursuing direct pay under the ITC even as the project was in progress. This opportunity created more capital for the school to be able to invest into future sustainability endeavors and their students.

For more information and resources, please visit our IRA blog or contact us below.

Financial Disclaimer: McKinstry is not engaged in providing legal, tax or financial advice. The information provided herein is intended only to assist you in your decision-making and is broad in scope. Accordingly, before making any final decisions you should consider obtaining additional information and advice from your accountant or other financial advisers who are fully aware of your specific circumstances.

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