Forum: Community Solar III: Finance
This session will explore the opportunities and challenges of obtaining both debt financing and tax equity for this newer segment of the solar industry. Low income set aside’s, minimum preopening subscription requirements and transaction standardization will be discussed.
Organizer: Joel Cohn
Joel Cohn, CPA, is a partner in CohnReznick’s Transaction Consulting Group. Since 1995, he has provided transaction structuring advice and technical services to sponsors of various tax credit projects including, among others, renewable energy projects. His broad experience in raising tax equity brings to bear solutions where business goals and tax rules would appear to conflict. He believes the key is having an understanding of the goals of the various stakeholders, and the alternative ways those goals can be achieved.
His advice has included maximization of credits through re-categorization of costs, contract restructuring and tax planning, all while working within the framework of tax law; creation of transaction structures designed to satisfy the key agendas of various stakeholders; exit strategy development for investors/ developers, including the creation of various option strategies; development of strategies which maximize sponsor return on investment; and creation of transaction structures that permit economic participation by nonprofits.
Joel’s tax credit transaction experience includes several hundred projects throughout the country. He has also contributed policy advice to working groups across the country, advising on both federal and state tax credit law, consequently generating substantial improvements to the programs and to the public’s understanding of the law.