The Digest’s 2026 Multi-Slide Guide to 45Z Tax Equity Structuring 

While 45Z transferability offers new direct-sale routes, the credit still faces steep market discounts due to complex carbon-intensity diligence, evolving feedstock rules, and recapture risks. A transferable credit is fundamentally not cash, creating a monetization lag that threatens debt service if not properly bridged. Sponsors can avoid an 8 to 15 percent value loss by discarding legacy tax-equity models. Instead, they should utilize internal tax capacity or structure bridge-against-forward-transfer facilities early during the term-sheet phase.

Category: Multi-Slide Guides