Opportunity Zones Can Drive Development Of US Renewable Energy

In the United States, Opportunity Zones (OZs) have provided developers with new The race is now on to determine whether renewable energy developers can catch up to their real estate counterparts in utilizing this new tool.

Opportunity Zones Can Drive Development Of US Renewable Energy

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Experts believe renewable energy and sustainable development projects could benefit from the incentive. “Many renewable energy projects are well-suited for this program because they are built in the very places most real estate developers won’t or can’t invest, such as in rural communities,” says Cody Evans, founder of Homecoming Capital. “Yet these places are often where capital – and the jobs and tax base that accompany it – is needed most, and where environmental inequity is often the greatest.

Experts believe renewable energy and sustainable development projects could benefit from the incentive. “Many renewable energy projects are well-suited for this program because they are built in the very places most real estate developers won’t or can’t invest, such as in rural communities,” says Cody Evans, founder of Homecoming Capital. “Yet these places are often where capital – and the jobs and tax base that accompany it – is needed most, and where environmental inequity is often the greatest.

Opportunity Zones have so far been recognized as an important development tool by the real estate industry, who have been looking to it as a growth opportunity, however, they remain an underused instrument by clean energy developers.

The potential development generated by just a fraction of those gains has renewables developers eager to use Opportunity Zones to drive new projects As Jon Bonanno, CXO at the nonprofit New Energy Nexus, explains: “Clean energy folks are beginning to jump all over this.

Opportunity Zones have so far been recognized as an important development tool by the real estate industry, who have been looking to it as a growth opportunity, however, they remain an underused instrument by clean energy developers.

The potential development generated by just a fraction of those gains has renewables developers eager to use Opportunity Zones to drive new projects As Jon Bonanno, CXO at the nonprofit New Energy Nexus, explains: “Clean energy folks are beginning to jump all over this.

The internet shopping giant told the New York City Council that it had no plans to directly benefit from the Opportunity Zone program offering cuts on federal capital gains taxes as a way to spur development in downtrodden areas.

The internet shopping giant told the New York City Council that it had no plans to directly benefit from the Opportunity Zone program offering cuts on federal capital gains taxes as a way to spur development in downtrodden areas.

Upon signing the Opportunity Zones Development Act (OZDA), the Governor described how the island can unlock potential through its OZ status: “From now on, Puerto Rico will benefit from the [OZDA].

Opportunity Zones give both individuals and corporations the chance to re-invest existing capital gains into Qualified Opportunity Zone Funds (“QOFs”) in order to receive tax breaks for helping fund investment in impoverished areas.

Opportunity Zones give both individuals and corporations the chance to re-invest existing capital gains into Qualified Opportunity Zone Funds (“QOFs”) in order to receive tax breaks for helping fund investment in impoverished areas.

Upon signing the Opportunity Zones Development Act (OZDA), the Governor described how the island can unlock potential through its OZ status: “From now on, Puerto Rico will benefit from the [OZDA].

While it remains to be seen if OZs will develop into renewable and green technology hubs, one thing is certain: Opportunity Zones promise to be a major tool in the future development of the United States .

While it remains to be seen if OZs will develop into renewable and green technology hubs, one thing is certain: Opportunity Zones promise to be a major tool in the future development of the United States .

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