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Salgenx S3000 (3,000 kW) Commercial Flow Battery: $35 x 3,000 kW = $105,000 per unit soldSalgenx S6000 (6,000 kW) Commercial Flow Battery: $35 x 6,000 kW = $210,000 per unit soldUtility Scale Flow Battery Bank: $35 x 6,000 kW x 100 = $21,000,000Note: The credit would apply to components produced and sold after December 31, 2022, and would begin to phase out starting in 2030. Access: Electrochemical cell comprised of one or more positive electrodes and one or more negative electrodes, with an energy density of not less than 100 watt-hours per liter (.1 kW/L), and capable of storing at least 20 watt-hours of energy.
Section 45X of the IRA which covers the Advanced manufacturing production credit. For makers of battery cells, it provides for $35 per kilowatt-hour (kWh) Inflation Reduction Act of 2022 – New Tax Credits for Manufacturers of Clean Energy Equipment |
Monetize the Tax Credit |
Monetize the Tax Credit Manufacturers can also monetize the tax credit through a direct payment from the Internal Revenue Service (IRS) is lieu of a credit against their taxes due, or opt to transfer the credit, as described below:Direct pay option: Manufacturers can receive a refund for 45X MPTC tax credits for the first five years they are claimed, though are still subject to the 2033 credit sunset. The five-year limitation does not apply if the manufacturer is a tax-exempt organization (i.e. non-profit), state, municipality, the Tennessee Valley Authority, Indian Tribal government, any Alaskan Native Corporation, or any rural electric cooperative. A penalty of 20% may apply where excess payments occur.[3]Transfer of credit: Manufacturers may also elect to transfer all, or a portion, of the tax credits for a given year to an unrelated eligible taxpayer. Payments for the credit must be made in cash and are not considered a taxable event (i.e. no taxes are owed on receiving the payment and no deduction is possible for making the payment). A penalty of 20% may apply where excess credits occur.[4][3] H.R.5376 – Inflation Reduction Act of 2022, Section 6417. Taxpayers may elect to stop receiving direct payments in subsequent years, however, once stopped, they cannot go back to direct payments.[4] H.R.5376 – Inflation Reduction Act of 2022, Section 6418. The transferee cannot further transfer any credits it received in the transfer. Monetize the tax credit (pdf page download)EnergyGov: Monetize the tax credit for manufacturing batteries |
S3000 Tax Credits for Salgenx Salt Water Flow Battery valid Until 2029 |
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S3000 Tax Credits for Salgenx Salt Water Flow Battery |
S3000 Tax Credits 3,000 kW (3 MW) Infinity Salt Water Flow Battery Technology.Tax credits may be generated and used by the manufacturer and seller of the battery, or sold to a unrelated party. Partial credits for assembly only from USA components. Valid January 1st, 2023 until 2029. S3000 Tax Credits (pdf page download)EnergyGov: Monetize the tax credit for manufacturing batteries |
S6000 Tax Credits for Salgenx Salt Water Flow Battery Valid until 2029 |
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S6000 Tax Credits for Salgenx Salt Water Flow Battery |
S6000 Tax Credits 6,000 kW (6 MW) Infinity Salt Water Flow Battery Technology.Tax credits may be generated and used by the manufacturer and seller of the battery, or sold to a unrelated party. Partial credits for assembly only from USA components. Valid January 1st, 2023 until 2029. S6000 Tax Credits (pdf page download)EnergyGov: Monetize the tax credit for manufacturing batteries |
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