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Tax Credit Marketplace, LLC Announces Launching of New Renewable Energy Division

Tax Credit Marketplace, LLC (“TCM”) announces the addition of a new Renewable Energy Tax Credit (“RETC”) division. The RETC division will be developed and led by Lucas Boyd, Vice President, Renewable Energy Funds, and Josh Workman, CEO, TCM.

“The 2022 passage of the Inflation Reduction Act makes now the perfect time to strategically expand further into the renewable energy market,” said Workman. “The addition of Lucas to our leadership team marks a vital moment in our company’s growth. His financial acumen and dedication to his clients and partners will help drive our success.”

Lucas has more than fifteen years’ experience in financial services, including accomplished roles in wealth management, risk management, business development, and investment operations.  Prior to joining TCM, Lucas was a member of an investment group that advised over $230 million in client assets.  He also worked for TCM’s affiliate company, Banker Exchange, LLC, handling 1031 exchange transactions with high-net-worth clients while keeping close relationships with attorneys, accountants, and real estate professionals.  In this new role, he will be partnering with registered representatives, RIA’s, accountants, and attorneys and their accredited investor clients on the current renewable energy fund offerings and the specifics of RETCs. 

The Inflation Reduction Act (IRA) of 2022 modified and expanded the investment tax credit (“ITC”) and the production tax credit (“PTC”) with the intention to expedite the transition to sustainable energy sources.  This legislation introduced transferable renewable energy tax credits, which greatly simplifies the traditional way tax credit investors access credits and provides energy developers more creative financing by attracting additional private capital.  This increases the number of eligible investors and increases the opportunity for further renewable energy development.  Temporary guidance on renewable energy tax credit transfers was released in June 2023 from the Department of Treasury, and the volume of transfers has steadily increased since then. Final regulations were published on April 30, 2024, removing the temporary guidance.

These tax credits incentivize the adoption of eco-friendly energy sources benefiting the environment and the economy. TCM establishes annual funds (each, a “Fund”) to invest in credit generating projects completed within the applicable year.  TCM’s Funds provide renewable energy firms and developers with a single source to monetize their tax credits. TCM provides investors with a single source for project and tax credit research as an investment vehicle. Qualified investors in the fund receive an individually tailored allocation of the Fund’s Tax Credits.   

About Tax Credit Marketplace, LLC:

Tax Credit Marketplace, LLC is South Carolina’s largest company specializing in monetizing Tax Credits. Through its various Funds, TCM invests in real estate and renewable energy projects that generate tax credits under one of the Revitalization and Inflation Reduction Acts currently offered in South Carolina and at the Federal Level. These Credits are used by accredited investors, corporations, and institutions to reduce their State or Federal tax liability. To date, TCM and its principals have monetized over $140 million in Tax Credits.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any offer, solicitation or sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.