{"version":"1.0.0","segments":[{"speaker":"John Carson","startTime":50.78,"endTime":52.7,"body":"But what I would"},{"speaker":"John Carson","startTime":50.78,"endTime":52.7,"body":"say, more than anything, for"},{"speaker":"John Carson","startTime":52.7,"endTime":55.82,"body":"your fire STEM is don't assume"},{"speaker":"John Carson","startTime":52.7,"endTime":55.82,"body":"just because you're not 100"},{"speaker":"John Carson","startTime":56.120000000000005,"endTime":61.4,"body":"megawatt facility, utility scale"},{"speaker":"John Carson","startTime":56.120000000000005,"endTime":61.4,"body":"solar, don't assume there's not"},{"speaker":"John Carson","startTime":61.4,"endTime":65.3,"body":"a avenue for monetizing your"},{"speaker":"John Carson","startTime":61.4,"endTime":65.3,"body":"credits, because we're here"},{"speaker":"John Carson","startTime":65.3,"endTime":68.84,"body":"serving specifically that DG"},{"speaker":"John Carson","startTime":65.3,"endTime":68.84,"body":"space, which, again, like I"},{"speaker":"John Carson","startTime":68.84,"endTime":71.32,"body":"said, I believe it's"},{"speaker":"John Carson","startTime":68.84,"endTime":71.32,"body":"underserved, but we're here to"},{"speaker":"John Carson","startTime":71.32,"endTime":71.68,"body":"help."},{"speaker":"intro","startTime":72.04,"endTime":74.92,"body":"Are you speeding the"},{"speaker":"intro","startTime":72.04,"endTime":74.92,"body":"energy transition here at the"},{"speaker":"intro","startTime":74.92,"endTime":78.64,"body":"Clean Power Hour, our hosts, Tim"},{"speaker":"intro","startTime":74.92,"endTime":78.64,"body":"Montague and John Weaver bring"},{"speaker":"intro","startTime":78.64,"endTime":82.3,"body":"you the best in solar, batteries"},{"speaker":"intro","startTime":78.64,"endTime":82.3,"body":"and clean technologies every"},{"speaker":"intro","startTime":82.3,"endTime":86.32,"body":"week. Want to go deeper into"},{"speaker":"intro","startTime":82.3,"endTime":86.32,"body":"decarbonization. We do too."},{"speaker":"intro","startTime":86.56,"endTime":88.96000000000001,"body":"We're here to help you"},{"speaker":"intro","startTime":86.56,"endTime":88.96000000000001,"body":"understand and command the"},{"speaker":"intro","startTime":88.96000000000001,"endTime":92.64,"body":"commercial, residential and"},{"speaker":"intro","startTime":88.96000000000001,"endTime":92.64,"body":"utility, solar, wind and storage"},{"speaker":"intro","startTime":92.64,"endTime":96.48,"body":"industries. So let's get to it"},{"speaker":"intro","startTime":92.64,"endTime":96.48,"body":"together. We can speed the"},{"speaker":"intro","startTime":96.48,"endTime":97.5,"body":"energy transition"},{"speaker":"Tim Montague","startTime":100.02000000000001,"endTime":103.08,"body":"Today on the Clean"},{"speaker":"Tim Montague","startTime":100.02000000000001,"endTime":103.08,"body":"Power Hour, tax credit finance"},{"speaker":"Tim Montague","startTime":103.08,"endTime":106.17,"body":"for distributed generation. I'm"},{"speaker":"Tim Montague","startTime":103.08,"endTime":106.17,"body":"Tim Montague, your host, welcome"},{"speaker":"Tim Montague","startTime":106.17,"endTime":109.41,"body":"to the Clean Power Hour. Check"},{"speaker":"Tim Montague","startTime":106.17,"endTime":109.41,"body":"out all of our content at"},{"speaker":"Tim Montague","startTime":109.41,"endTime":113.58,"body":"cleanpowerhour.com. Please tell"},{"speaker":"Tim Montague","startTime":109.41,"endTime":113.58,"body":"a friend about the show. Give us"},{"speaker":"Tim Montague","startTime":113.58,"endTime":117.24,"body":"a rating and a review on Apple"},{"speaker":"Tim Montague","startTime":113.58,"endTime":117.24,"body":"and Spotify and subscribe to our"},{"speaker":"Tim Montague","startTime":117.24,"endTime":121.59,"body":"YouTube channel today. My guest"},{"speaker":"Tim Montague","startTime":117.24,"endTime":121.59,"body":"is John Carson. He is the"},{"speaker":"Tim Montague","startTime":121.59,"endTime":125.43,"body":"managing partner at Armagh"},{"speaker":"Tim Montague","startTime":121.59,"endTime":125.43,"body":"Capital, in the Atlanta area."},{"speaker":"Tim Montague","startTime":125.43,"endTime":126.51,"body":"Welcome to the show, John,"},{"speaker":"John Carson","startTime":127.04,"endTime":128.84,"body":"thank you. Tim,"},{"speaker":"John Carson","startTime":127.04,"endTime":128.84,"body":"thanks for having me. Great to"},{"speaker":"John Carson","startTime":128.9,"endTime":129.38,"body":"be here."},{"speaker":"Tim Montague","startTime":129.38,"endTime":131.5,"body":"It was great to"},{"speaker":"Tim Montague","startTime":129.38,"endTime":131.5,"body":"meet you at the CCSA event."},{"speaker":"Tim Montague","startTime":131.5,"endTime":135.51999999999998,"body":"Shout out to CCSA. That was a"},{"speaker":"Tim Montague","startTime":131.5,"endTime":135.51999999999998,"body":"lovely event in Denver. Looking"},{"speaker":"Tim Montague","startTime":135.51999999999998,"endTime":140.92000000000002,"body":"forward to getting more involved"},{"speaker":"Tim Montague","startTime":135.51999999999998,"endTime":140.92000000000002,"body":"with CCSA and the community."},{"speaker":"Tim Montague","startTime":140.92000000000002,"endTime":143.68,"body":"Solar industry in the United"},{"speaker":"Tim Montague","startTime":140.92000000000002,"endTime":143.68,"body":"States is booming, but you're"},{"speaker":"Tim Montague","startTime":143.86,"endTime":147.88,"body":"involved in tax credit finance"},{"speaker":"Tim Montague","startTime":143.86,"endTime":147.88,"body":"for a bunch of industries within"},{"speaker":"Tim Montague","startTime":147.88,"endTime":150.34,"body":"the energy transition. So we're"},{"speaker":"Tim Montague","startTime":147.88,"endTime":150.34,"body":"going to talk about all that,"},{"speaker":"Tim Montague","startTime":150.34,"endTime":153.66,"body":"but we'll give our listeners, a"},{"speaker":"Tim Montague","startTime":150.34,"endTime":153.66,"body":"little bit of your background"},{"speaker":"Tim Montague","startTime":153.66,"endTime":157.2,"body":"and how you got interested in"},{"speaker":"Tim Montague","startTime":153.66,"endTime":157.2,"body":"clean energy, finance,"},{"speaker":"John Carson","startTime":157.38,"endTime":159.66,"body":"sure. Again, thanks"},{"speaker":"John Carson","startTime":157.38,"endTime":159.66,"body":"for having me. It's pleasure to"},{"speaker":"John Carson","startTime":159.66,"endTime":163.92000000000002,"body":"be here to talk to your audience"},{"speaker":"John Carson","startTime":159.66,"endTime":163.92000000000002,"body":"and have this conversation about"},{"speaker":"John Carson","startTime":163.92000000000002,"endTime":168.0,"body":"this definitely growing"},{"speaker":"John Carson","startTime":163.92000000000002,"endTime":168.0,"body":"industry. I'm a CPA based here"},{"speaker":"John Carson","startTime":168.0,"endTime":171.07999999999998,"body":"in Atlanta. I've been in the tax"},{"speaker":"John Carson","startTime":168.0,"endTime":171.07999999999998,"body":"credit space for about nine"},{"speaker":"John Carson","startTime":171.07999999999998,"endTime":175.04000000000002,"body":"years, eventually, originally"},{"speaker":"John Carson","startTime":171.07999999999998,"endTime":175.04000000000002,"body":"started in more of a public"},{"speaker":"John Carson","startTime":175.04000000000002,"endTime":178.34,"body":"policy role, slash business"},{"speaker":"John Carson","startTime":175.04000000000002,"endTime":178.34,"body":"development role, and and"},{"speaker":"John Carson","startTime":179.3,"endTime":181.76,"body":"obviously here in Georgia, we"},{"speaker":"John Carson","startTime":179.3,"endTime":181.76,"body":"did a quite a bit of the film"},{"speaker":"John Carson","startTime":181.76,"endTime":184.46,"body":"credits. The film credits are"},{"speaker":"John Carson","startTime":181.76,"endTime":184.46,"body":"very big here in Georgia, and"},{"speaker":"John Carson","startTime":184.46,"endTime":187.88,"body":"that's how I got to know the the"},{"speaker":"John Carson","startTime":184.46,"endTime":187.88,"body":"transferable tax credit market."},{"speaker":"John Carson","startTime":188.24,"endTime":191.98,"body":"And been doing that film credits"},{"speaker":"John Carson","startTime":188.24,"endTime":191.98,"body":"almost exclusively the past four"},{"speaker":"John Carson","startTime":191.98,"endTime":196.24,"body":"years. And then I had, it's kind"},{"speaker":"John Carson","startTime":191.98,"endTime":196.24,"body":"of funny, I had someone call me,"},{"speaker":"John Carson","startTime":196.24,"endTime":199.18,"body":"asking me for Ira credits, and"},{"speaker":"John Carson","startTime":196.24,"endTime":199.18,"body":"this is a couple years ago."},{"speaker":"John Carson","startTime":199.24,"endTime":204.16,"body":"Yeah, I had no idea what they"},{"speaker":"John Carson","startTime":199.24,"endTime":204.16,"body":"were. And fast forward, I found"},{"speaker":"John Carson","startTime":204.16,"endTime":207.7,"body":"that Armagh capital, because I"},{"speaker":"John Carson","startTime":204.16,"endTime":207.7,"body":"saw so much market demand for"},{"speaker":"John Carson","startTime":207.7,"endTime":211.5,"body":"the credits, but also need for"},{"speaker":"John Carson","startTime":207.7,"endTime":211.5,"body":"tax credit, finance for these"},{"speaker":"John Carson","startTime":211.5,"endTime":215.76,"body":"distributed generation projects."},{"speaker":"John Carson","startTime":211.5,"endTime":215.76,"body":"So Well, it's been fantastic,"},{"speaker":"John Carson","startTime":215.76,"endTime":216.84,"body":"and I'm looking forward to"},{"speaker":"Tim Montague","startTime":215.78,"endTime":219.41,"body":"more. Yeah,"},{"speaker":"Tim Montague","startTime":215.78,"endTime":219.41,"body":"indeed, we, you know, we have a,"},{"speaker":"Tim Montague","startTime":219.44,"endTime":222.83,"body":"I like to say we have a 30 year"},{"speaker":"Tim Montague","startTime":219.44,"endTime":222.83,"body":"run in the energy transition"},{"speaker":"Tim Montague","startTime":222.83,"endTime":227.96,"body":"related to solar, wind, battery"},{"speaker":"Tim Montague","startTime":222.83,"endTime":227.96,"body":"storage, electrification of the"},{"speaker":"Tim Montague","startTime":227.96,"endTime":231.26,"body":"built environment, that includes"},{"speaker":"Tim Montague","startTime":227.96,"endTime":231.26,"body":"transportation, heavy industry,"},{"speaker":"Tim Montague","startTime":231.26,"endTime":236.75,"body":"HVAC, etc. So it's we have a"},{"speaker":"Tim Montague","startTime":231.26,"endTime":236.75,"body":"long runway, and we have a long"},{"speaker":"Tim Montague","startTime":236.75,"endTime":242.12,"body":"way to go. We we have to clean"},{"speaker":"Tim Montague","startTime":236.75,"endTime":242.12,"body":"the grid. We have to net zero"},{"speaker":"Tim Montague","startTime":242.12,"endTime":246.53,"body":"the economy and beyond. As my"},{"speaker":"Tim Montague","startTime":242.12,"endTime":246.53,"body":"listeners know, I'm fond of"},{"speaker":"Tim Montague","startTime":246.56,"endTime":250.16,"body":"referring to the trillion tons"},{"speaker":"Tim Montague","startTime":246.56,"endTime":250.16,"body":"of pollution, CO two, pollution"},{"speaker":"Tim Montague","startTime":250.16,"endTime":252.5,"body":"that have accumulated in the"},{"speaker":"Tim Montague","startTime":250.16,"endTime":252.5,"body":"atmosphere, and we also have to"},{"speaker":"Tim Montague","startTime":252.5,"endTime":258.86,"body":"address those. So tell us in in"},{"speaker":"Tim Montague","startTime":252.5,"endTime":258.86,"body":"in a few sentences, though,"},{"speaker":"Tim Montague","startTime":258.86,"endTime":264.44,"body":"John, what is, what is Armagh"},{"speaker":"Tim Montague","startTime":258.86,"endTime":264.44,"body":"Capital lane? And, okay, you're,"},{"speaker":"Tim Montague","startTime":264.44,"endTime":267.02,"body":"you're doing tax credit finance,"},{"speaker":"Tim Montague","startTime":264.44,"endTime":267.02,"body":"of a bunch of different things,"},{"speaker":"Tim Montague","startTime":267.02,"endTime":269.96000000000004,"body":"but related to the energy"},{"speaker":"Tim Montague","startTime":267.02,"endTime":269.96000000000004,"body":"transition, what are the sweet"},{"speaker":"Tim Montague","startTime":269.96000000000004,"endTime":270.53,"body":"spots?"},{"speaker":"John Carson","startTime":270.82,"endTime":273.78,"body":"Sure, so we're"},{"speaker":"John Carson","startTime":270.82,"endTime":273.78,"body":"really doing tax credit finance"},{"speaker":"John Carson","startTime":273.96000000000004,"endTime":276.96000000000004,"body":"for what, again, what I would"},{"speaker":"John Carson","startTime":273.96000000000004,"endTime":276.96000000000004,"body":"call distributed generation."},{"speaker":"John Carson","startTime":276.96000000000004,"endTime":279.72,"body":"That's anywhere from, I would"},{"speaker":"John Carson","startTime":276.96000000000004,"endTime":279.72,"body":"guess, about half a megawatt"},{"speaker":"John Carson","startTime":279.72,"endTime":285.78,"body":"solar project to about 3035,"},{"speaker":"John Carson","startTime":279.72,"endTime":285.78,"body":"maybe 40 megawatt solar project."},{"speaker":"John Carson","startTime":286.02,"endTime":290.28,"body":"And I believe this is just an"},{"speaker":"John Carson","startTime":286.02,"endTime":290.28,"body":"area of renewable energy that is"},{"speaker":"John Carson","startTime":290.28,"endTime":293.53999999999996,"body":"underserved with tax credit"},{"speaker":"John Carson","startTime":290.28,"endTime":293.53999999999996,"body":"finance, and we're just here to"},{"speaker":"John Carson","startTime":293.53999999999996,"endTime":297.02,"body":"serve that. In addition to that,"},{"speaker":"John Carson","startTime":293.53999999999996,"endTime":297.02,"body":"we're also working on tax"},{"speaker":"John Carson","startTime":297.02,"endTime":300.38,"body":"credits from EV charging"},{"speaker":"John Carson","startTime":297.02,"endTime":300.38,"body":"infrastructure and the 30 C"},{"speaker":"John Carson","startTime":300.38,"endTime":303.86,"body":"credit. We're working on"},{"speaker":"John Carson","startTime":300.38,"endTime":303.86,"body":"hydrogen, and we're all working"},{"speaker":"John Carson","startTime":303.86,"endTime":306.86,"body":"also on advanced manufacturing"},{"speaker":"John Carson","startTime":303.86,"endTime":306.86,"body":"credits and bringing our"},{"speaker":"John Carson","startTime":306.86,"endTime":311.98,"body":"taxpayers those value as well as"},{"speaker":"John Carson","startTime":306.86,"endTime":311.98,"body":"producing a competitive yield to"},{"speaker":"John Carson","startTime":311.98,"endTime":315.34000000000003,"body":"people, to sponsors, creating"},{"speaker":"John Carson","startTime":311.98,"endTime":315.34000000000003,"body":"those credits."},{"speaker":"Tim Montague","startTime":316.17999999999995,"endTime":321.1,"body":"Okay? And so for"},{"speaker":"Tim Montague","startTime":316.17999999999995,"endTime":321.1,"body":"those of us who are not finance"},{"speaker":"Tim Montague","startTime":321.1,"endTime":327.64,"body":"experts, walk us through a"},{"speaker":"Tim Montague","startTime":321.1,"endTime":327.64,"body":"typical DG project, from initial"},{"speaker":"Tim Montague","startTime":327.64,"endTime":331.05999999999995,"body":"contact to to closure,"},{"speaker":"John Carson","startTime":331.41999999999996,"endTime":335.1,"body":"absolutely so I"},{"speaker":"John Carson","startTime":331.41999999999996,"endTime":335.1,"body":"will. I have a number of clients"},{"speaker":"John Carson","startTime":335.1,"endTime":337.38,"body":"that are coming to me with their"},{"speaker":"John Carson","startTime":335.1,"endTime":337.38,"body":"customers and say, look, I've"},{"speaker":"John Carson","startTime":337.44000000000005,"endTime":340.62,"body":"got this customer. He's going to"},{"speaker":"John Carson","startTime":337.44000000000005,"endTime":340.62,"body":"put in a five megawatt facility"},{"speaker":"John Carson","startTime":340.86,"endTime":344.1,"body":"in this location. What can you"},{"speaker":"John Carson","startTime":340.86,"endTime":344.1,"body":"do for him on the tax credit"},{"speaker":"John Carson","startTime":344.1,"endTime":347.1,"body":"finance? And what we would say"},{"speaker":"John Carson","startTime":344.1,"endTime":347.1,"body":"is, okay, about a five megawatt,"},{"speaker":"John Carson","startTime":347.1,"endTime":349.79999999999995,"body":"you're probably talking about"},{"speaker":"John Carson","startTime":347.1,"endTime":349.79999999999995,"body":"ten million of capital cost."},{"speaker":"John Carson","startTime":349.86,"endTime":353.36,"body":"That's going to cost. Qualify"},{"speaker":"John Carson","startTime":349.86,"endTime":353.36,"body":"for 30 or 40% of credit. So"},{"speaker":"John Carson","startTime":353.41999999999996,"endTime":357.67999999999995,"body":"let's just say it's 40% 40%"},{"speaker":"John Carson","startTime":353.41999999999996,"endTime":357.67999999999995,"body":"times 10 million of capital"},{"speaker":"John Carson","startTime":357.67999999999995,"endTime":360.20000000000005,"body":"costs. That's 4 million credits"},{"speaker":"John Carson","startTime":357.67999999999995,"endTime":360.20000000000005,"body":"they're going to qualify for."},{"speaker":"John Carson","startTime":360.20000000000005,"endTime":363.26,"body":"Well, let's say that's let's say"},{"speaker":"John Carson","startTime":360.20000000000005,"endTime":363.26,"body":"that someone in agriculture or"},{"speaker":"John Carson","startTime":363.26,"endTime":366.5,"body":"someone in a business where they"},{"speaker":"John Carson","startTime":363.26,"endTime":366.5,"body":"don't owe a lot of tax, but they"},{"speaker":"John Carson","startTime":366.5,"endTime":368.84000000000003,"body":"and they'd rather monetize those"},{"speaker":"John Carson","startTime":366.5,"endTime":368.84000000000003,"body":"credits and pay down their"},{"speaker":"John Carson","startTime":368.84000000000003,"endTime":371.62,"body":"facilities, have extra cash"},{"speaker":"John Carson","startTime":368.84000000000003,"endTime":371.62,"body":"flow, pay down a loan and what"},{"speaker":"John Carson","startTime":371.62,"endTime":374.74,"body":"have you. We can take those 4"},{"speaker":"John Carson","startTime":371.62,"endTime":374.74,"body":"million credits for which they"},{"speaker":"John Carson","startTime":374.74,"endTime":380.32000000000005,"body":"qualify, show them the process"},{"speaker":"John Carson","startTime":374.74,"endTime":380.32000000000005,"body":"of registering with the IRS,"},{"speaker":"John Carson","startTime":380.38,"endTime":382.84000000000003,"body":"going through the Cost"},{"speaker":"John Carson","startTime":380.38,"endTime":382.84000000000003,"body":"Segregation slash due diligence,"},{"speaker":"John Carson","startTime":382.84000000000003,"endTime":386.14,"body":"report qualifying for those"},{"speaker":"John Carson","startTime":382.84000000000003,"endTime":386.14,"body":"credits, taking them to market"},{"speaker":"John Carson","startTime":386.14,"endTime":389.62,"body":"and actually returning cash for"},{"speaker":"John Carson","startTime":386.14,"endTime":389.62,"body":"them, for credits that they"},{"speaker":"John Carson","startTime":389.62,"endTime":393.65999999999997,"body":"probably would not have used in"},{"speaker":"John Carson","startTime":389.62,"endTime":393.65999999999997,"body":"not, definitely not in the near"},{"speaker":"John Carson","startTime":393.65999999999997,"endTime":397.67999999999995,"body":"term. And we take the those"},{"speaker":"John Carson","startTime":393.65999999999997,"endTime":397.67999999999995,"body":"credits, we transfer them to a"},{"speaker":"John Carson","startTime":397.67999999999995,"endTime":400.67999999999995,"body":"taxpayer that would want to have"},{"speaker":"John Carson","startTime":397.67999999999995,"endTime":400.67999999999995,"body":"those sustainability"},{"speaker":"John Carson","startTime":400.67999999999995,"endTime":403.91999999999996,"body":"recognition, they want to have a"},{"speaker":"John Carson","startTime":400.67999999999995,"endTime":403.91999999999996,"body":"discount on their taxes. And"},{"speaker":"John Carson","startTime":403.91999999999996,"endTime":405.65999999999997,"body":"it's a win win for everybody,"},{"speaker":"John Carson","startTime":403.91999999999996,"endTime":405.65999999999997,"body":"really."},{"speaker":"Tim Montague","startTime":406.44000000000005,"endTime":410.03999999999996,"body":"Yeah, and give us"},{"speaker":"Tim Montague","startTime":406.44000000000005,"endTime":410.03999999999996,"body":"an example of a typical client"},{"speaker":"Tim Montague","startTime":410.03999999999996,"endTime":414.62,"body":"then that is looking for these"},{"speaker":"Tim Montague","startTime":410.03999999999996,"endTime":414.62,"body":"tax credits, sure,"},{"speaker":"John Carson","startTime":414.62,"endTime":417.62,"body":"a typical client,"},{"speaker":"John Carson","startTime":414.62,"endTime":417.62,"body":"well, the Treasury has said that"},{"speaker":"John Carson","startTime":418.1,"endTime":421.88,"body":"the clients for these credits,"},{"speaker":"John Carson","startTime":418.1,"endTime":421.88,"body":"the taxpayers for these credits,"},{"speaker":"John Carson","startTime":422.78,"endTime":426.32000000000005,"body":"need to be basically a C"},{"speaker":"John Carson","startTime":422.78,"endTime":426.32000000000005,"body":"corporation or somebody that has"},{"speaker":"John Carson","startTime":426.62,"endTime":431.32000000000005,"body":"passive income tax liabilities."},{"speaker":"John Carson","startTime":426.62,"endTime":431.32000000000005,"body":"So I would think of one that"},{"speaker":"John Carson","startTime":431.32000000000005,"endTime":434.86,"body":"I've sold a number of credits to"},{"speaker":"John Carson","startTime":431.32000000000005,"endTime":434.86,"body":"just recently. It's actually a"},{"speaker":"John Carson","startTime":434.86,"endTime":438.70000000000005,"body":"US subsidiary Tim of a foreign"},{"speaker":"John Carson","startTime":434.86,"endTime":438.70000000000005,"body":"corporation. And there's lots of"},{"speaker":"John Carson","startTime":438.70000000000005,"endTime":440.86,"body":"these, those examples, those are"},{"speaker":"John Carson","startTime":438.70000000000005,"endTime":440.86,"body":"typically gonna be a C"},{"speaker":"John Carson","startTime":440.86,"endTime":445.65999999999997,"body":"corporation, and they had a tax"},{"speaker":"John Carson","startTime":440.86,"endTime":445.65999999999997,"body":"liability of a right at a"},{"speaker":"John Carson","startTime":445.65999999999997,"endTime":448.6,"body":"million dollars. So what they"},{"speaker":"John Carson","startTime":445.65999999999997,"endTime":448.6,"body":"did is say, Look, we're gonna"},{"speaker":"John Carson","startTime":448.65999999999997,"endTime":454.86,"body":"purchase 750,000 credits for"},{"speaker":"John Carson","startTime":448.65999999999997,"endTime":454.86,"body":"such and such tax year, and we"},{"speaker":"John Carson","startTime":454.86,"endTime":459.24,"body":"want to transfer those from a"},{"speaker":"John Carson","startTime":454.86,"endTime":459.24,"body":"development to this taxpayer"},{"speaker":"John Carson","startTime":459.36,"endTime":463.20000000000005,"body":"that my particular client, my"},{"speaker":"John Carson","startTime":459.36,"endTime":463.20000000000005,"body":"taxpayer on the buyer side,"},{"speaker":"John Carson","startTime":463.44000000000005,"endTime":467.88,"body":"they're very pleased because"},{"speaker":"John Carson","startTime":463.44000000000005,"endTime":467.88,"body":"they get a say, you know, fair"},{"speaker":"John Carson","startTime":467.88,"endTime":470.84000000000003,"body":"sized discount on their tax"},{"speaker":"John Carson","startTime":467.88,"endTime":470.84000000000003,"body":"bill. They get sustainability or"},{"speaker":"John Carson","startTime":470.84000000000003,"endTime":475.03999999999996,"body":"ESG recognition, the seller,"},{"speaker":"John Carson","startTime":470.84000000000003,"endTime":475.03999999999996,"body":"they get cash immediately for"},{"speaker":"John Carson","startTime":475.03999999999996,"endTime":477.98,"body":"those tax credits, rather than"},{"speaker":"John Carson","startTime":475.03999999999996,"endTime":477.98,"body":"sitting on tax returns for the"},{"speaker":"John Carson","startTime":477.98,"endTime":481.70000000000005,"body":"next several years, and they are"},{"speaker":"John Carson","startTime":477.98,"endTime":481.70000000000005,"body":"able to use those cash flows to"},{"speaker":"John Carson","startTime":481.70000000000005,"endTime":484.64,"body":"pay down their facilities, or"},{"speaker":"John Carson","startTime":481.70000000000005,"endTime":484.64,"body":"what have, pay down loans, or"},{"speaker":"John Carson","startTime":484.64,"endTime":487.46000000000004,"body":"what have you, and it's just a"},{"speaker":"John Carson","startTime":484.64,"endTime":487.46000000000004,"body":"win for everybody."},{"speaker":"Tim Montague","startTime":488.17999999999995,"endTime":490.9,"body":"So I'm struggling"},{"speaker":"Tim Montague","startTime":488.17999999999995,"endTime":490.9,"body":"a little bit, though, to"},{"speaker":"Tim Montague","startTime":490.9,"endTime":495.76,"body":"understand if, if I'm the buyer"},{"speaker":"Tim Montague","startTime":490.9,"endTime":495.76,"body":"of the credits, and I have a tax"},{"speaker":"Tim Montague","startTime":495.76,"endTime":499.6,"body":"liability that I'm trying to"},{"speaker":"Tim Montague","startTime":495.76,"endTime":499.6,"body":"reduce, let's say I have a"},{"speaker":"Tim Montague","startTime":499.6,"endTime":504.76,"body":"million dollars in tax"},{"speaker":"Tim Montague","startTime":499.6,"endTime":504.76,"body":"liability. When I buy credits,"},{"speaker":"Tim Montague","startTime":504.88,"endTime":508.48,"body":"I'm spending money. So how is"},{"speaker":"Tim Montague","startTime":504.88,"endTime":508.48,"body":"that reducing my tax burden?"},{"speaker":"Tim Montague","startTime":508.96000000000004,"endTime":509.38,"body":"You?"},{"speaker":"John Carson","startTime":509.44000000000005,"endTime":511.79999999999995,"body":"Let's say you have"},{"speaker":"John Carson","startTime":509.44000000000005,"endTime":511.79999999999995,"body":"a Sure, great question. Let's"},{"speaker":"John Carson","startTime":511.79999999999995,"endTime":514.98,"body":"say you have a million dollar"},{"speaker":"John Carson","startTime":511.79999999999995,"endTime":514.98,"body":"tax liability. These credits can"},{"speaker":"John Carson","startTime":514.98,"endTime":519.78,"body":"be used up to 75% of your"},{"speaker":"John Carson","startTime":514.98,"endTime":519.78,"body":"liability. Okay, so let's say if"},{"speaker":"John Carson","startTime":519.78,"endTime":522.66,"body":"you have a million dollar tax"},{"speaker":"John Carson","startTime":519.78,"endTime":522.66,"body":"liability, you buy 750,000"},{"speaker":"John Carson","startTime":524.22,"endTime":528.36,"body":"credits. Those credits may go"},{"speaker":"John Carson","startTime":524.22,"endTime":528.36,"body":"for a market price of, say, 91"},{"speaker":"John Carson","startTime":528.66,"endTime":531.56,"body":"cents, 92 cents, so you're"},{"speaker":"John Carson","startTime":528.66,"endTime":531.56,"body":"already getting an eight or 9%"},{"speaker":"John Carson","startTime":532.64,"endTime":538.04,"body":"savings against your taxes. So"},{"speaker":"John Carson","startTime":532.64,"endTime":538.04,"body":"you would multiply, you know,"},{"speaker":"John Carson","startTime":538.1,"endTime":542.72,"body":"make 91 cents times 750,000 got"},{"speaker":"John Carson","startTime":538.1,"endTime":542.72,"body":"it that number is, what about"},{"speaker":"John Carson","startTime":542.72,"endTime":548.78,"body":"660 $670,000 so you're saving"},{"speaker":"John Carson","startTime":542.72,"endTime":548.78,"body":"about, you know, 70 $80,000"},{"speaker":"John Carson","startTime":549.5,"endTime":554.8,"body":"whatever that math is, against"},{"speaker":"John Carson","startTime":549.5,"endTime":554.8,"body":"your income tax liability. And"},{"speaker":"John Carson","startTime":554.8,"endTime":558.94,"body":"in addition to that, I'll also"},{"speaker":"John Carson","startTime":554.8,"endTime":558.94,"body":"note this for your buyers, for"},{"speaker":"John Carson","startTime":559.0,"endTime":562.9,"body":"your for your audience of"},{"speaker":"John Carson","startTime":559.0,"endTime":562.9,"body":"buyers, these can be used"},{"speaker":"John Carson","startTime":562.9,"endTime":566.74,"body":"against estimated payments. So"},{"speaker":"John Carson","startTime":562.9,"endTime":566.74,"body":"it's the IRS has said you don't"},{"speaker":"John Carson","startTime":566.74,"endTime":569.4399999999999,"body":"have to make estimated payments."},{"speaker":"John Carson","startTime":566.74,"endTime":569.4399999999999,"body":"And by the credits, you can"},{"speaker":"John Carson","startTime":569.4399999999999,"endTime":574.02,"body":"factor these credits in in"},{"speaker":"John Carson","startTime":569.4399999999999,"endTime":574.02,"body":"reducing your cash payments for"},{"speaker":"John Carson","startTime":574.02,"endTime":575.6999999999999,"body":"your estimated tax liabilities."},{"speaker":"Tim Montague","startTime":576.54,"endTime":579.72,"body":"Okay? And do you"},{"speaker":"Tim Montague","startTime":576.54,"endTime":579.72,"body":"find that it's a both and that"},{"speaker":"Tim Montague","startTime":579.72,"endTime":584.22,"body":"these companies are also doing"},{"speaker":"Tim Montague","startTime":579.72,"endTime":584.22,"body":"projects directly, you know,"},{"speaker":"Tim Montague","startTime":584.22,"endTime":587.4599999999999,"body":"installing rooftop solar or"},{"speaker":"Tim Montague","startTime":584.22,"endTime":587.4599999999999,"body":"installing, you know, EV"},{"speaker":"Tim Montague","startTime":587.4599999999999,"endTime":591.5,"body":"infrastructure or hydrogen"},{"speaker":"Tim Montague","startTime":587.4599999999999,"endTime":591.5,"body":"infrastructure, because that"},{"speaker":"Tim Montague","startTime":591.5,"endTime":596.3,"body":"would allow them to take, you"},{"speaker":"Tim Montague","startTime":591.5,"endTime":596.3,"body":"know, the 30% ITC, if they were"},{"speaker":"Tim Montague","startTime":596.3,"endTime":599.48,"body":"actually doing a rooftop solar"},{"speaker":"Tim Montague","startTime":596.3,"endTime":599.48,"body":"project, are"},{"speaker":"John Carson","startTime":599.48,"endTime":602.42,"body":"you talking about"},{"speaker":"John Carson","startTime":599.48,"endTime":602.42,"body":"the sponsors or the developers"},{"speaker":"John Carson","startTime":602.42,"endTime":604.88,"body":"of the credits? They're actually"},{"speaker":"John Carson","startTime":602.42,"endTime":604.88,"body":"using the credits themselves."},{"speaker":"Tim Montague","startTime":605.18,"endTime":608.78,"body":"I'm talking about,"},{"speaker":"Tim Montague","startTime":605.18,"endTime":608.78,"body":"well, yeah, so if, let's say I'm"},{"speaker":"Tim Montague","startTime":608.78,"endTime":613.42,"body":"Walmart, okay, and I've got all"},{"speaker":"Tim Montague","startTime":608.78,"endTime":613.42,"body":"these facilities, and Walmart is"},{"speaker":"Tim Montague","startTime":613.42,"endTime":616.54,"body":"a good example of a company that"},{"speaker":"Tim Montague","startTime":613.42,"endTime":616.54,"body":"is installing solar on their"},{"speaker":"Tim Montague","startTime":616.54,"endTime":619.48,"body":"facilities. Most of the time,"},{"speaker":"Tim Montague","startTime":616.54,"endTime":619.48,"body":"they're they're they're"},{"speaker":"Tim Montague","startTime":619.48,"endTime":622.9599999999999,"body":"leveraging third party ownership"},{"speaker":"Tim Montague","startTime":619.48,"endTime":622.9599999999999,"body":"of those assets, but let's just"},{"speaker":"Tim Montague","startTime":622.9599999999999,"endTime":626.3199999999999,"body":"say, on one facility, and they"},{"speaker":"Tim Montague","startTime":622.9599999999999,"endTime":626.3199999999999,"body":"own the facility, and so it's"},{"speaker":"Tim Montague","startTime":626.3199999999999,"endTime":628.12,"body":"owner occupied, and they're"},{"speaker":"Tim Montague","startTime":626.3199999999999,"endTime":628.12,"body":"like, Yeah, we're going to"},{"speaker":"Tim Montague","startTime":628.12,"endTime":631.8,"body":"upgrade this facility. We're"},{"speaker":"Tim Montague","startTime":628.12,"endTime":631.8,"body":"going to install solar, and it's"},{"speaker":"Tim Montague","startTime":631.8,"endTime":635.64,"body":"going to cost a million dollars,"},{"speaker":"Tim Montague","startTime":631.8,"endTime":635.64,"body":"and we're going to take that,"},{"speaker":"Tim Montague","startTime":635.76,"endTime":639.66,"body":"you know, 30% or 40% you know,"},{"speaker":"Tim Montague","startTime":635.76,"endTime":639.66,"body":"depending on where it is and who"},{"speaker":"Tim Montague","startTime":639.66,"endTime":642.54,"body":"the who the off taker is, and"},{"speaker":"Tim Montague","startTime":639.66,"endTime":642.54,"body":"the zip code, etcetera,"},{"speaker":"Tim Montague","startTime":642.54,"endTime":644.76,"body":"etcetera, etcetera, right?"},{"speaker":"Tim Montague","startTime":642.54,"endTime":644.76,"body":"There's many factors that go"},{"speaker":"Tim Montague","startTime":644.76,"endTime":648.48,"body":"into what the ITC is going to"},{"speaker":"Tim Montague","startTime":644.76,"endTime":648.48,"body":"be, but, but let's just say 30%"},{"speaker":"Tim Montague","startTime":649.56,"endTime":655.1,"body":"would, would. Would Walmart be"},{"speaker":"Tim Montague","startTime":649.56,"endTime":655.1,"body":"doing that in addition to this"},{"speaker":"Tim Montague","startTime":655.16,"endTime":659.18,"body":"buying of credits? I'm just"},{"speaker":"Tim Montague","startTime":655.16,"endTime":659.18,"body":"curious like because a discount"},{"speaker":"Tim Montague","startTime":659.18,"endTime":663.5,"body":"sounds really good, but is it?"},{"speaker":"Tim Montague","startTime":659.18,"endTime":663.5,"body":"Is it so compelling that that is"},{"speaker":"Tim Montague","startTime":663.5,"endTime":666.1999999999999,"body":"a major strategy for major"},{"speaker":"Tim Montague","startTime":663.5,"endTime":666.1999999999999,"body":"corporations? What"},{"speaker":"John Carson","startTime":666.1999999999999,"endTime":668.12,"body":"I have to offer is"},{"speaker":"John Carson","startTime":666.1999999999999,"endTime":668.12,"body":"not a great strategy"},{"speaker":"John Carson","startTime":668.12,"endTime":670.5799999999999,"body":"necessarily, for a corporation,"},{"speaker":"John Carson","startTime":668.12,"endTime":670.5799999999999,"body":"because they could probably use"},{"speaker":"John Carson","startTime":670.5799999999999,"endTime":674.4399999999999,"body":"those credits themselves, and"},{"speaker":"John Carson","startTime":670.5799999999999,"endTime":674.4399999999999,"body":"they can Walmart, for example,"},{"speaker":"John Carson","startTime":674.4399999999999,"endTime":677.0799999999999,"body":"obviously, they owe a lot of"},{"speaker":"John Carson","startTime":674.4399999999999,"endTime":677.0799999999999,"body":"money in federal income tax"},{"speaker":"John Carson","startTime":677.0799999999999,"endTime":679.9,"body":"liabilities. If they put in a"},{"speaker":"John Carson","startTime":677.0799999999999,"endTime":679.9,"body":"solar facility that they own,"},{"speaker":"John Carson","startTime":679.9,"endTime":683.26,"body":"and it's not third party or what"},{"speaker":"John Carson","startTime":679.9,"endTime":683.26,"body":"have you, they would spend that"},{"speaker":"John Carson","startTime":683.26,"endTime":685.78,"body":"million dollars that you just"},{"speaker":"John Carson","startTime":683.26,"endTime":685.78,"body":"mentioned. They would have 30%"},{"speaker":"John Carson","startTime":686.8,"endTime":689.1999999999999,"body":"or 300,000 in credits. They"},{"speaker":"John Carson","startTime":686.8,"endTime":689.1999999999999,"body":"would probably keep that"},{"speaker":"John Carson","startTime":689.1999999999999,"endTime":693.06,"body":"themselves and use it against"},{"speaker":"John Carson","startTime":689.1999999999999,"endTime":693.06,"body":"their own liabilities for the"},{"speaker":"John Carson","startTime":693.06,"endTime":695.9399999999999,"body":"year in which they generated the"},{"speaker":"John Carson","startTime":693.06,"endTime":695.9399999999999,"body":"credits, or maybe carry them"},{"speaker":"John Carson","startTime":695.9399999999999,"endTime":698.9399999999999,"body":"back. The inflation reduction"},{"speaker":"John Carson","startTime":695.9399999999999,"endTime":698.9399999999999,"body":"actually allows them to carry"},{"speaker":"John Carson","startTime":698.9399999999999,"endTime":703.02,"body":"the bag credits three years to"},{"speaker":"John Carson","startTime":698.9399999999999,"endTime":703.02,"body":"prior tax years. Yeah, what we"},{"speaker":"John Carson","startTime":703.02,"endTime":708.18,"body":"have to offer really is more"},{"speaker":"John Carson","startTime":703.02,"endTime":708.18,"body":"valuable for a smaller or mid"},{"speaker":"John Carson","startTime":708.18,"endTime":710.76,"body":"sized company that wants to"},{"speaker":"John Carson","startTime":708.18,"endTime":710.76,"body":"acquire those credits, rather"},{"speaker":"John Carson","startTime":710.76,"endTime":714.56,"body":"than a larger company generating"},{"speaker":"John Carson","startTime":710.76,"endTime":714.56,"body":"those credits, right? Whereas"},{"speaker":"John Carson","startTime":714.62,"endTime":718.52,"body":"that smaller, medium sized"},{"speaker":"John Carson","startTime":714.62,"endTime":718.52,"body":"company, they want to offset"},{"speaker":"John Carson","startTime":718.52,"endTime":723.14,"body":"their tax at a discount and"},{"speaker":"John Carson","startTime":718.52,"endTime":723.14,"body":"achieve sustainability or ESG"},{"speaker":"John Carson","startTime":723.14,"endTime":726.4399999999999,"body":"recognition, that's what they"},{"speaker":"John Carson","startTime":723.14,"endTime":726.4399999999999,"body":"were, that's the value for them,"},{"speaker":"John Carson","startTime":726.62,"endTime":730.3399999999999,"body":"yeah, is that they want to have"},{"speaker":"John Carson","startTime":726.62,"endTime":730.3399999999999,"body":"a cash savings and that"},{"speaker":"John Carson","startTime":730.3399999999999,"endTime":732.9399999999999,"body":"recognition for clean energy, I"},{"speaker":"Tim Montague","startTime":732.9399999999999,"endTime":738.16,"body":"get it. And what"},{"speaker":"Tim Montague","startTime":732.9399999999999,"endTime":738.16,"body":"would you say are the common"},{"speaker":"Tim Montague","startTime":738.16,"endTime":744.8199999999999,"body":"challenges that you and"},{"speaker":"Tim Montague","startTime":738.16,"endTime":744.8199999999999,"body":"developers run into when trying"},{"speaker":"Tim Montague","startTime":744.8199999999999,"endTime":749.1999999999999,"body":"to make this marriage between"},{"speaker":"Tim Montague","startTime":744.8199999999999,"endTime":749.1999999999999,"body":"projects and buyers for the"},{"speaker":"Tim Montague","startTime":749.1999999999999,"endTime":749.8,"body":"credits?"},{"speaker":"John Carson","startTime":749.98,"endTime":752.88,"body":"Yeah, I think the"},{"speaker":"John Carson","startTime":749.98,"endTime":752.88,"body":"most common challenge is"},{"speaker":"John Carson","startTime":752.9399999999999,"endTime":755.52,"body":"education on the credits and"},{"speaker":"John Carson","startTime":752.9399999999999,"endTime":755.52,"body":"education on the inflation"},{"speaker":"John Carson","startTime":755.52,"endTime":758.3399999999999,"body":"Reduction Act. And that's why"},{"speaker":"John Carson","startTime":755.52,"endTime":758.3399999999999,"body":"we've done so much in regard to"},{"speaker":"John Carson","startTime":758.3399999999999,"endTime":762.72,"body":"marketing. We've had a webinar"},{"speaker":"John Carson","startTime":758.3399999999999,"endTime":762.72,"body":"for our buyers recently in"},{"speaker":"John Carson","startTime":762.72,"endTime":765.9,"body":"regard to what are these"},{"speaker":"John Carson","startTime":762.72,"endTime":765.9,"body":"credits? How are they used? What"},{"speaker":"John Carson","startTime":765.9,"endTime":768.18,"body":"are the risks? How do you"},{"speaker":"John Carson","startTime":765.9,"endTime":768.18,"body":"mitigate those risks? What is"},{"speaker":"John Carson","startTime":768.18,"endTime":771.02,"body":"the pricing? What's the"},{"speaker":"John Carson","startTime":768.18,"endTime":771.02,"body":"mechanics and so forth. I think"},{"speaker":"John Carson","startTime":771.02,"endTime":774.8,"body":"it's a real education exercise."},{"speaker":"John Carson","startTime":771.02,"endTime":774.8,"body":"Some of your buyers might be"},{"speaker":"John Carson","startTime":774.8,"endTime":777.5,"body":"familiar with the film credits"},{"speaker":"John Carson","startTime":774.8,"endTime":777.5,"body":"that are available in various"},{"speaker":"John Carson","startTime":777.5,"endTime":781.52,"body":"states and so forth. I remember"},{"speaker":"John Carson","startTime":777.5,"endTime":781.52,"body":"when it started in our state, 15"},{"speaker":"John Carson","startTime":781.52,"endTime":784.22,"body":"years ago, these credits were"},{"speaker":"John Carson","startTime":781.52,"endTime":784.22,"body":"going film credits were going"},{"speaker":"John Carson","startTime":784.22,"endTime":787.16,"body":"for 60 cents on the dollar, and"},{"speaker":"John Carson","startTime":784.22,"endTime":787.16,"body":"people didn't understand them,"},{"speaker":"John Carson","startTime":787.16,"endTime":789.74,"body":"and so forth. But I would say"},{"speaker":"John Carson","startTime":787.16,"endTime":789.74,"body":"now they're, they're trading"},{"speaker":"John Carson","startTime":789.74,"endTime":794.62,"body":"much higher than that, CPAs, tax"},{"speaker":"John Carson","startTime":789.74,"endTime":794.62,"body":"attorneys, tax advisors, are"},{"speaker":"John Carson","startTime":794.62,"endTime":797.1999999999999,"body":"much more comfortable with them."},{"speaker":"John Carson","startTime":794.62,"endTime":797.1999999999999,"body":"I think, Tim, you're going to"},{"speaker":"John Carson","startTime":797.1999999999999,"endTime":799.9599999999999,"body":"see that with the inflation"},{"speaker":"John Carson","startTime":797.1999999999999,"endTime":799.9599999999999,"body":"Reduction Act credits as well."},{"speaker":"John Carson","startTime":800.1999999999999,"endTime":802.78,"body":"It's a, it's going to be an"},{"speaker":"John Carson","startTime":800.1999999999999,"endTime":802.78,"body":"education exercise. That's the"},{"speaker":"John Carson","startTime":802.78,"endTime":806.98,"body":"main challenge that I see with"},{"speaker":"John Carson","startTime":802.78,"endTime":806.98,"body":"these credits going forward. But"},{"speaker":"John Carson","startTime":806.98,"endTime":809.26,"body":"we're up to that challenge. And"},{"speaker":"John Carson","startTime":806.98,"endTime":809.26,"body":"I think it's a, it's a quick"},{"speaker":"John Carson","startTime":809.26,"endTime":810.22,"body":"learning curve for"},{"speaker":"Tim Montague","startTime":810.22,"endTime":811.68,"body":"all of us. Yeah,"},{"speaker":"John Carson","startTime":813.6,"endTime":816.78,"body":"I make the other"},{"speaker":"John Carson","startTime":813.6,"endTime":816.78,"body":"challenges for sellers to know"},{"speaker":"John Carson","startTime":816.9599999999999,"endTime":820.68,"body":"exactly what materials,"},{"speaker":"John Carson","startTime":816.9599999999999,"endTime":820.68,"body":"materials are needed to market"},{"speaker":"John Carson","startTime":820.68,"endTime":823.4399999999999,"body":"these credits, they're going to"},{"speaker":"John Carson","startTime":820.68,"endTime":823.4399999999999,"body":"need to get a due diligence"},{"speaker":"John Carson","startTime":823.4399999999999,"endTime":826.8,"body":"report, a Cost Segregation"},{"speaker":"John Carson","startTime":823.4399999999999,"endTime":826.8,"body":"report, prove that there's"},{"speaker":"John Carson","startTime":826.8,"endTime":829.56,"body":"property insurance there, and so"},{"speaker":"John Carson","startTime":826.8,"endTime":829.56,"body":"forth. But that's you know, that"},{"speaker":"John Carson","startTime":829.56,"endTime":832.6999999999999,"body":"that can be handled as well. I"},{"speaker":"John Carson","startTime":829.56,"endTime":832.6999999999999,"body":"think the main to answer your"},{"speaker":"John Carson","startTime":832.6999999999999,"endTime":834.68,"body":"question, the main challenge, is"},{"speaker":"John Carson","startTime":832.6999999999999,"endTime":834.68,"body":"education. The"},{"speaker":"Tim Montague","startTime":834.53,"endTime":836.72,"body":"Clean Power Hour"},{"speaker":"Tim Montague","startTime":834.53,"endTime":836.72,"body":"is brought to you by CPS"},{"speaker":"Tim Montague","startTime":836.72,"endTime":839.93,"body":"America, the maker of North"},{"speaker":"Tim Montague","startTime":836.72,"endTime":839.93,"body":"America's number one three phase"},{"speaker":"Tim Montague","startTime":839.93,"endTime":843.17,"body":"string inverter with over six"},{"speaker":"Tim Montague","startTime":839.93,"endTime":843.17,"body":"gig Watts shipped in the US. The"},{"speaker":"Tim Montague","startTime":843.17,"endTime":846.14,"body":"CPS America product lineup"},{"speaker":"Tim Montague","startTime":843.17,"endTime":846.14,"body":"includes three phase string"},{"speaker":"Tim Montague","startTime":846.14,"endTime":851.51,"body":"inverters ranging from 25 to 275"},{"speaker":"Tim Montague","startTime":846.14,"endTime":851.51,"body":"kW. Their flagship inverter the"},{"speaker":"Tim Montague","startTime":851.51,"endTime":856.04,"body":"CPS 252 75 is designed to work"},{"speaker":"Tim Montague","startTime":851.51,"endTime":856.04,"body":"with solar plants ranging from"},{"speaker":"Tim Montague","startTime":856.04,"endTime":861.89,"body":"two megawatts to two gigawatts."},{"speaker":"Tim Montague","startTime":856.04,"endTime":861.89,"body":"The 252 75 pairs, well, with CPS"},{"speaker":"Tim Montague","startTime":861.89,"endTime":865.28,"body":"America's exceptional data"},{"speaker":"Tim Montague","startTime":861.89,"endTime":865.28,"body":"communication controls and"},{"speaker":"Tim Montague","startTime":865.28,"endTime":869.72,"body":"energy storage solutions. Go to"},{"speaker":"Tim Montague","startTime":865.28,"endTime":869.72,"body":"chintpowersystems.com to find"},{"speaker":"Tim Montague","startTime":869.72,"endTime":874.67,"body":"out more. Yeah, and I assume the"},{"speaker":"Tim Montague","startTime":869.72,"endTime":874.67,"body":"IRS is tracking all of these"},{"speaker":"Tim Montague","startTime":874.67,"endTime":882.5,"body":"credits. What prevents a a"},{"speaker":"Tim Montague","startTime":874.67,"endTime":882.5,"body":"developer from selling the"},{"speaker":"Tim Montague","startTime":882.5,"endTime":885.02,"body":"credits on a project multiple"},{"speaker":"Tim Montague","startTime":882.5,"endTime":885.02,"body":"times?"},{"speaker":"John Carson","startTime":885.41,"endTime":888.0799999999999,"body":"Yeah, there go."},{"speaker":"John Carson","startTime":885.41,"endTime":888.0799999999999,"body":"They are trans these credits are"},{"speaker":"John Carson","startTime":888.0799999999999,"endTime":893.87,"body":"transferred through an IRS"},{"speaker":"John Carson","startTime":888.0799999999999,"endTime":893.87,"body":"portal to which my sellers or"},{"speaker":"John Carson","startTime":893.87,"endTime":898.04,"body":"myself act on their behalf, we"},{"speaker":"John Carson","startTime":893.87,"endTime":898.04,"body":"will register these credits, and"},{"speaker":"John Carson","startTime":898.04,"endTime":902.99,"body":"each of the projects gets a"},{"speaker":"John Carson","startTime":898.04,"endTime":902.99,"body":"unique asset identification"},{"speaker":"John Carson","startTime":902.99,"endTime":906.5899999999999,"body":"number. Okay, so if I have a"},{"speaker":"John Carson","startTime":902.99,"endTime":906.5899999999999,"body":"rooftop installation on top of a"},{"speaker":"John Carson","startTime":906.5899999999999,"endTime":909.65,"body":"Walmart at such and such"},{"speaker":"John Carson","startTime":906.5899999999999,"endTime":909.65,"body":"address, it's going to have a"},{"speaker":"John Carson","startTime":909.65,"endTime":913.49,"body":"unique asset identification"},{"speaker":"John Carson","startTime":909.65,"endTime":913.49,"body":"number, and then the IRS is"},{"speaker":"John Carson","startTime":913.49,"endTime":916.43,"body":"going to understand and"},{"speaker":"John Carson","startTime":913.49,"endTime":916.43,"body":"recognize that on their form,"},{"speaker":"John Carson","startTime":916.43,"endTime":922.55,"body":"3800 transfer of the credits, in"},{"speaker":"John Carson","startTime":916.43,"endTime":922.55,"body":"regard to the business credits,"},{"speaker":"John Carson","startTime":922.55,"endTime":925.9399999999999,"body":"where, where these are claimed,"},{"speaker":"John Carson","startTime":922.55,"endTime":925.9399999999999,"body":"it's going to list that asset"},{"speaker":"John Carson","startTime":926.0,"endTime":930.05,"body":"unique asset identification"},{"speaker":"John Carson","startTime":926.0,"endTime":930.05,"body":"number, and how many credits a"},{"speaker":"John Carson","startTime":930.05,"endTime":933.29,"body":"taxpayer is claiming as a"},{"speaker":"John Carson","startTime":930.05,"endTime":933.29,"body":"result. So there's, there's"},{"speaker":"John Carson","startTime":933.29,"endTime":935.51,"body":"definitely tracking and"},{"speaker":"John Carson","startTime":933.29,"endTime":935.51,"body":"registration of these credits"},{"speaker":"John Carson","startTime":935.51,"endTime":936.74,"body":"with the with the Treasury"},{"speaker":"Tim Montague","startTime":937.43,"endTime":942.1999999999999,"body":"got it. So you"},{"speaker":"Tim Montague","startTime":937.43,"endTime":942.1999999999999,"body":"mentioned the the IRA, the"},{"speaker":"Tim Montague","startTime":942.1999999999999,"endTime":945.4399999999999,"body":"inflation Reduction Act, which"},{"speaker":"Tim Montague","startTime":942.1999999999999,"endTime":945.4399999999999,"body":"is, you know, been a boon for"},{"speaker":"Tim Montague","startTime":945.74,"endTime":950.3,"body":"the industry. I mean, it took"},{"speaker":"Tim Montague","startTime":945.74,"endTime":950.3,"body":"the ITC to 30% which was"},{"speaker":"Tim Montague","startTime":950.3299999999999,"endTime":954.35,"body":"sketched. To step down to, I"},{"speaker":"Tim Montague","startTime":950.3299999999999,"endTime":954.35,"body":"think, 10 or 15% significantly"},{"speaker":"Tim Montague","startTime":954.35,"endTime":958.1,"body":"reduced. And and then it, then"},{"speaker":"Tim Montague","startTime":954.35,"endTime":958.1,"body":"it created these adders. And you"},{"speaker":"Tim Montague","startTime":958.1,"endTime":963.5899999999999,"body":"get up to 60% on the ITC, if you"},{"speaker":"Tim Montague","startTime":958.1,"endTime":963.5899999999999,"body":"if the stars align in terms of,"},{"speaker":"Tim Montague","startTime":963.65,"endTime":966.8,"body":"you know, having American made"},{"speaker":"Tim Montague","startTime":963.65,"endTime":966.8,"body":"equipment and energy"},{"speaker":"Tim Montague","startTime":966.8,"endTime":971.93,"body":"communities, that's right, and"},{"speaker":"Tim Montague","startTime":966.8,"endTime":971.93,"body":"LMI communities. So, you know,"},{"speaker":"Tim Montague","startTime":971.9599999999999,"endTime":980.66,"body":"looking from 2021 pre IRA to"},{"speaker":"Tim Montague","startTime":971.9599999999999,"endTime":980.66,"body":"2025 you know, what is that"},{"speaker":"Tim Montague","startTime":980.66,"endTime":984.77,"body":"meant for ARMA capital and the"},{"speaker":"Tim Montague","startTime":980.66,"endTime":984.77,"body":"DG tax credit market? In your"},{"speaker":"Tim Montague","startTime":984.77,"endTime":985.22,"body":"opinion,"},{"speaker":"John Carson","startTime":985.8199999999999,"endTime":988.0699999999999,"body":"I think it's going"},{"speaker":"John Carson","startTime":985.8199999999999,"endTime":988.0699999999999,"body":"to be absolutely huge. If you"},{"speaker":"John Carson","startTime":988.0699999999999,"endTime":993.8,"body":"look at forecasts of megawatt"},{"speaker":"John Carson","startTime":988.0699999999999,"endTime":993.8,"body":"and gigawatt build out by market"},{"speaker":"John Carson","startTime":993.8,"endTime":997.9399999999999,"body":"sector. Utility scale is a fair"},{"speaker":"John Carson","startTime":993.8,"endTime":997.9399999999999,"body":"amount of it, but just actually"},{"speaker":"John Carson","startTime":997.9399999999999,"endTime":1001.42,"body":"a little bit more than utility"},{"speaker":"John Carson","startTime":997.9399999999999,"endTime":1001.42,"body":"scale is distributed generation."},{"speaker":"John Carson","startTime":1001.78,"endTime":1008.0799999999999,"body":"In other words, solar arrays may"},{"speaker":"John Carson","startTime":1001.78,"endTime":1008.0799999999999,"body":"be less than in our space, many"},{"speaker":"John Carson","startTime":1008.0799999999999,"endTime":1012.28,"body":"of whom, from a quantity"},{"speaker":"John Carson","startTime":1008.0799999999999,"endTime":1012.28,"body":"standpoint, are 20 megawatts or"},{"speaker":"John Carson","startTime":1012.28,"endTime":1018.31,"body":"less, and definitely items, you"},{"speaker":"John Carson","startTime":1012.28,"endTime":1018.31,"body":"know, 10 megawatts and less. And"},{"speaker":"John Carson","startTime":1018.37,"endTime":1024.76,"body":"I think there's just a massive"},{"speaker":"John Carson","startTime":1018.37,"endTime":1024.76,"body":"opportunity, not just for the"},{"speaker":"John Carson","startTime":1024.76,"endTime":1027.31,"body":"buyers of these credits, but"},{"speaker":"John Carson","startTime":1024.76,"endTime":1027.31,"body":"also for the sellers of these"},{"speaker":"John Carson","startTime":1079.0,"endTime":1084.8200000000002,"body":"credits. And I would say what,"},{"speaker":"John Carson","startTime":1079.0,"endTime":1084.8200000000002,"body":"it's not just a matter of being"},{"speaker":"John Carson","startTime":1084.8200000000002,"endTime":1089.5600000000002,"body":"able to transact these credits."},{"speaker":"John Carson","startTime":1084.8200000000002,"endTime":1089.5600000000002,"body":"I've been working with some EPCs"},{"speaker":"John Carson","startTime":1089.5900000000001,"endTime":1093.8200000000002,"body":"Tim, where it literally takes a"},{"speaker":"John Carson","startTime":1089.5900000000001,"endTime":1093.8200000000002,"body":"a project that was just on an"},{"speaker":"John Carson","startTime":1093.8200000000002,"endTime":1097.03,"body":"Excel spreadsheet, just on a"},{"speaker":"John Carson","startTime":1093.8200000000002,"endTime":1097.03,"body":"sales pipeline, and now, because"},{"speaker":"John Carson","startTime":1097.03,"endTime":1100.24,"body":"of the credits, because there's"},{"speaker":"John Carson","startTime":1097.03,"endTime":1100.24,"body":"an ability to monetize them, and"},{"speaker":"John Carson","startTime":1100.24,"endTime":1104.44,"body":"the bankers and the lenders know"},{"speaker":"John Carson","startTime":1100.24,"endTime":1104.44,"body":"this, that it just, it goes from"},{"speaker":"John Carson","startTime":1104.44,"endTime":1108.46,"body":"someone's sales pipeline to a"},{"speaker":"John Carson","startTime":1104.44,"endTime":1108.46,"body":"project in the ground with solar"},{"speaker":"John Carson","startTime":1108.46,"endTime":1112.99,"body":"mountain and connectivity. Why?"},{"speaker":"John Carson","startTime":1108.46,"endTime":1112.99,"body":"Because there is an ability to"},{"speaker":"John Carson","startTime":1112.99,"endTime":1115.93,"body":"recognize the value of these and"},{"speaker":"John Carson","startTime":1112.99,"endTime":1115.93,"body":"monetize the value of these."},{"speaker":"John Carson","startTime":1116.3200000000002,"endTime":1121.9,"body":"Investment Tax credits go back"},{"speaker":"John Carson","startTime":1116.3200000000002,"endTime":1121.9,"body":"to the sponsor. It's, it's, it's"},{"speaker":"John Carson","startTime":1121.9,"endTime":1124.63,"body":"really game changer. And I know"},{"speaker":"John Carson","startTime":1121.9,"endTime":1124.63,"body":"that game changing is an"},{"speaker":"John Carson","startTime":1124.63,"endTime":1127.6000000000001,"body":"overused term, but it really"},{"speaker":"John Carson","startTime":1124.63,"endTime":1127.6000000000001,"body":"applies in this situation."},{"speaker":"Tim Montague","startTime":1128.68,"endTime":1131.95,"body":"Well, I would"},{"speaker":"Tim Montague","startTime":1128.68,"endTime":1131.95,"body":"wholeheartedly agree. And what"},{"speaker":"Tim Montague","startTime":1131.95,"endTime":1136.72,"body":"boggles the mind, in my opinion,"},{"speaker":"Tim Montague","startTime":1131.95,"endTime":1136.72,"body":"is that Joe Biden does get more"},{"speaker":"Tim Montague","startTime":1136.72,"endTime":1140.95,"body":"credit for the IRA like when you"},{"speaker":"Tim Montague","startTime":1136.72,"endTime":1140.95,"body":"when you look back at the last"},{"speaker":"Tim Montague","startTime":1140.95,"endTime":1145.54,"body":"four years this, this is a major"},{"speaker":"Tim Montague","startTime":1140.95,"endTime":1145.54,"body":"boon for the US economy. It's"},{"speaker":"Tim Montague","startTime":1145.54,"endTime":1148.93,"body":"incentivizing manufacturing. And"},{"speaker":"Tim Montague","startTime":1145.54,"endTime":1148.93,"body":"I'd like to talk a little bit,"},{"speaker":"Tim Montague","startTime":1148.93,"endTime":1153.4,"body":"if we can, about manufacturing,"},{"speaker":"Tim Montague","startTime":1148.93,"endTime":1153.4,"body":"because it's, you know, there's"},{"speaker":"Tim Montague","startTime":1153.4,"endTime":1156.94,"body":"a lot of opportunity for"},{"speaker":"Tim Montague","startTime":1153.4,"endTime":1156.94,"body":"onshoring and reshoring of solar"},{"speaker":"Tim Montague","startTime":1156.94,"endTime":1161.65,"body":"products. Is that? Is that a"},{"speaker":"Tim Montague","startTime":1156.94,"endTime":1161.65,"body":"niche that Arma is involved"},{"speaker":"Tim Montague","startTime":1161.65,"endTime":1162.01,"body":"with?"},{"speaker":"John Carson","startTime":1162.3700000000001,"endTime":1165.73,"body":"Not, not as much we"},{"speaker":"John Carson","startTime":1162.3700000000001,"endTime":1165.73,"body":"really deal with the tax credits"},{"speaker":"John Carson","startTime":1165.73,"endTime":1169.6000000000001,"body":"generated at near the end of the"},{"speaker":"John Carson","startTime":1165.73,"endTime":1169.6000000000001,"body":"project. Now, obviously we get"},{"speaker":"John Carson","startTime":1169.6000000000001,"endTime":1173.38,"body":"involved in regard to the"},{"speaker":"John Carson","startTime":1169.6000000000001,"endTime":1173.38,"body":"opportunity and pre selling the"},{"speaker":"John Carson","startTime":1173.38,"endTime":1175.63,"body":"credits and what have you. But"},{"speaker":"John Carson","startTime":1173.38,"endTime":1175.63,"body":"we don't get as involved in"},{"speaker":"John Carson","startTime":1175.63,"endTime":1178.8700000000001,"body":"regard to qualification of the"},{"speaker":"John Carson","startTime":1175.63,"endTime":1178.8700000000001,"body":"adders, including domestic"},{"speaker":"John Carson","startTime":1178.8700000000001,"endTime":1180.07,"body":"content and so forth."},{"speaker":"Tim Montague","startTime":1180.58,"endTime":1183.64,"body":"No, I mean, I mean"},{"speaker":"Tim Montague","startTime":1180.58,"endTime":1183.64,"body":"building manufacturing"},{"speaker":"Tim Montague","startTime":1183.64,"endTime":1184.69,"body":"facilities?"},{"speaker":"John Carson","startTime":1185.3500000000001,"endTime":1188.02,"body":"Oh, absolutely."},{"speaker":"John Carson","startTime":1185.3500000000001,"endTime":1188.02,"body":"Well, now we are looking at a"},{"speaker":"John Carson","startTime":1188.02,"endTime":1192.94,"body":"number of opportunities to sell"},{"speaker":"John Carson","startTime":1188.02,"endTime":1192.94,"body":"the ITCs from that are created"},{"speaker":"John Carson","startTime":1192.94,"endTime":1196.18,"body":"from the advanced manufacturing"},{"speaker":"John Carson","startTime":1192.94,"endTime":1196.18,"body":"facilities. Yeah, absolutely."},{"speaker":"John Carson","startTime":1196.18,"endTime":1199.99,"body":"And particularly in one of one"},{"speaker":"John Carson","startTime":1196.18,"endTime":1199.99,"body":"example or two examples, is not"},{"speaker":"John Carson","startTime":1199.99,"endTime":1203.74,"body":"just the clean hydrogen that"},{"speaker":"John Carson","startTime":1199.99,"endTime":1203.74,"body":"we're working in but also in"},{"speaker":"John Carson","startTime":1203.74,"endTime":1209.47,"body":"regard to solar cells and so"},{"speaker":"John Carson","startTime":1203.74,"endTime":1209.47,"body":"forth, and solar panels, just a"},{"speaker":"John Carson","startTime":1209.47,"endTime":1210.79,"body":"lot of opportunity. There"},{"speaker":"Tim Montague","startTime":1212.14,"endTime":1214.69,"body":"are there other"},{"speaker":"Tim Montague","startTime":1212.14,"endTime":1214.69,"body":"industries besides hydrogen and"},{"speaker":"Tim Montague","startTime":1214.69,"endTime":1217.6000000000001,"body":"solar cells that are you're"},{"speaker":"Tim Montague","startTime":1214.69,"endTime":1217.6000000000001,"body":"aware of that are eligible for"},{"speaker":"Tim Montague","startTime":1217.6000000000001,"endTime":1219.01,"body":"these credits,"},{"speaker":"John Carson","startTime":1220.06,"endTime":1222.73,"body":"not to my knowledge"},{"speaker":"John Carson","startTime":1220.06,"endTime":1222.73,"body":"immediately, but I will say we"},{"speaker":"John Carson","startTime":1222.73,"endTime":1226.39,"body":"are, well, we're we are"},{"speaker":"John Carson","startTime":1222.73,"endTime":1226.39,"body":"transacting the credits from EV"},{"speaker":"John Carson","startTime":1226.39,"endTime":1230.74,"body":"infrastructure, which that's the"},{"speaker":"John Carson","startTime":1226.39,"endTime":1230.74,"body":"30 C. So we basically have four"},{"speaker":"John Carson","startTime":1231.22,"endTime":1235.72,"body":"lines of credits for which we're"},{"speaker":"John Carson","startTime":1231.22,"endTime":1235.72,"body":"marketing credits to our"},{"speaker":"John Carson","startTime":1235.72,"endTime":1240.88,"body":"taxpayers. One is solar, which"},{"speaker":"John Carson","startTime":1235.72,"endTime":1240.88,"body":"is Section 48 second is EVs,"},{"speaker":"John Carson","startTime":1240.88,"endTime":1245.92,"body":"which is Section 30 C, hydrogen,"},{"speaker":"John Carson","startTime":1240.88,"endTime":1245.92,"body":"clean hydrogen credits, and then"},{"speaker":"John Carson","startTime":1245.92,"endTime":1248.8600000000001,"body":"advanced manufacturing, I would"},{"speaker":"John Carson","startTime":1245.92,"endTime":1248.8600000000001,"body":"say that's the bulk of our"},{"speaker":"John Carson","startTime":1248.8600000000001,"endTime":1251.29,"body":"business right there, in regard"},{"speaker":"John Carson","startTime":1248.8600000000001,"endTime":1251.29,"body":"to the federal credits. And like"},{"speaker":"John Carson","startTime":1251.29,"endTime":1254.95,"body":"I said, we're we're just seeing"},{"speaker":"John Carson","startTime":1251.29,"endTime":1254.95,"body":"so much opportunity and really"},{"speaker":"John Carson","startTime":1254.95,"endTime":1260.26,"body":"so much need based on that"},{"speaker":"John Carson","startTime":1254.95,"endTime":1260.26,"body":"market segment in its size."},{"speaker":"Tim Montague","startTime":1261.4,"endTime":1265.3,"body":"Very cool. So"},{"speaker":"Tim Montague","startTime":1261.4,"endTime":1265.3,"body":"would you be able to walk us"},{"speaker":"Tim Montague","startTime":1265.3,"endTime":1268.57,"body":"through a success story? I"},{"speaker":"John Carson","startTime":1268.57,"endTime":1273.01,"body":"can yes, there is"},{"speaker":"John Carson","startTime":1268.57,"endTime":1273.01,"body":"one where I was working with an"},{"speaker":"John Carson","startTime":1273.01,"endTime":1278.44,"body":"EPC in the southwestern United"},{"speaker":"John Carson","startTime":1273.01,"endTime":1278.44,"body":"States. And I'll actually"},{"speaker":"John Carson","startTime":1278.44,"endTime":1282.91,"body":"mention two very briefly. One is"},{"speaker":"John Carson","startTime":1278.44,"endTime":1282.91,"body":"there was an agricultural user"},{"speaker":"John Carson","startTime":1282.94,"endTime":1289.54,"body":"of solar electricity for a"},{"speaker":"John Carson","startTime":1282.94,"endTime":1289.54,"body":"facility in the southwestern"},{"speaker":"John Carson","startTime":1289.54,"endTime":1294.31,"body":"United States, and he was"},{"speaker":"John Carson","startTime":1289.54,"endTime":1294.31,"body":"looking to reduce his his loan"},{"speaker":"John Carson","startTime":1294.31,"endTime":1296.8,"body":"outstanding, and he didn't"},{"speaker":"John Carson","startTime":1294.31,"endTime":1296.8,"body":"realize that he qualified for"},{"speaker":"John Carson","startTime":1296.8,"endTime":1299.8,"body":"these credits, having said that"},{"speaker":"John Carson","startTime":1296.8,"endTime":1299.8,"body":"this was a farmer, he didn't"},{"speaker":"John Carson","startTime":1299.8,"endTime":1303.4,"body":"really have much need for these"},{"speaker":"John Carson","startTime":1299.8,"endTime":1303.4,"body":"credits. And. So he went through"},{"speaker":"John Carson","startTime":1303.4,"endTime":1306.04,"body":"the process that we guided him"},{"speaker":"John Carson","startTime":1303.4,"endTime":1306.04,"body":"through, because we don't just"},{"speaker":"John Carson","startTime":1306.04,"endTime":1309.07,"body":"connect buyer and seller. We"},{"speaker":"John Carson","startTime":1306.04,"endTime":1309.07,"body":"really facilitate the whole"},{"speaker":"John Carson","startTime":1309.07,"endTime":1312.7,"body":"process all the way through. And"},{"speaker":"John Carson","startTime":1309.07,"endTime":1312.7,"body":"we were able to monetize his"},{"speaker":"John Carson","startTime":1312.7,"endTime":1316.42,"body":"credits, get him to get him cash"},{"speaker":"John Carson","startTime":1312.7,"endTime":1316.42,"body":"that he can pay down his loan"},{"speaker":"John Carson","startTime":1316.42,"endTime":1319.3,"body":"facilities, and he's obviously"},{"speaker":"John Carson","startTime":1316.42,"endTime":1319.3,"body":"in today's interest rates. Tim,"},{"speaker":"John Carson","startTime":1319.3,"endTime":1322.3,"body":"he's very happy about that."},{"speaker":"John Carson","startTime":1319.3,"endTime":1322.3,"body":"Another success story that we"},{"speaker":"John Carson","startTime":1322.3,"endTime":1325.6000000000001,"body":"had was an even larger facility."},{"speaker":"John Carson","startTime":1322.3,"endTime":1325.6000000000001,"body":"I think this one was about four"},{"speaker":"John Carson","startTime":1325.6000000000001,"endTime":1329.59,"body":"megawatts, maybe even five"},{"speaker":"John Carson","startTime":1325.6000000000001,"endTime":1329.59,"body":"megawatts. And it was one of"},{"speaker":"John Carson","startTime":1329.59,"endTime":1333.07,"body":"those stories where it was fair"},{"speaker":"John Carson","startTime":1329.59,"endTime":1333.07,"body":"sized facility for distributed"},{"speaker":"John Carson","startTime":1333.07,"endTime":1336.67,"body":"generation, about 10 million of"},{"speaker":"John Carson","startTime":1333.07,"endTime":1336.67,"body":"capital cost, not to mention the"},{"speaker":"John Carson","startTime":1336.67,"endTime":1339.88,"body":"batteries that were there, about"},{"speaker":"John Carson","startTime":1336.67,"endTime":1339.88,"body":"4 million of credit. So overall,"},{"speaker":"John Carson","startTime":1339.88,"endTime":1343.8700000000001,"body":"not a very, very large facility."},{"speaker":"John Carson","startTime":1339.88,"endTime":1343.8700000000001,"body":"In the grand scheme of things,"},{"speaker":"John Carson","startTime":1343.99,"endTime":1348.73,"body":"it literally went from the"},{"speaker":"John Carson","startTime":1343.99,"endTime":1348.73,"body":"sponsor or the investor said,"},{"speaker":"John Carson","startTime":1348.97,"endTime":1351.82,"body":"you know, I just, I can't make"},{"speaker":"John Carson","startTime":1348.97,"endTime":1351.82,"body":"this work in regards to the long"},{"speaker":"John Carson","startTime":1351.82,"endTime":1354.1000000000001,"body":"term savings are there, but I"},{"speaker":"John Carson","startTime":1351.82,"endTime":1354.1000000000001,"body":"just can't make it work on a"},{"speaker":"John Carson","startTime":1354.1000000000001,"endTime":1357.6100000000001,"body":"cash flow basis. We were able to"},{"speaker":"John Carson","startTime":1354.1000000000001,"endTime":1357.6100000000001,"body":"give them engagement letter say"},{"speaker":"John Carson","startTime":1357.6100000000001,"endTime":1361.3600000000001,"body":"we're going to return x amount"},{"speaker":"John Carson","startTime":1357.6100000000001,"endTime":1361.3600000000001,"body":"of cents per on the yield per"},{"speaker":"John Carson","startTime":1361.3600000000001,"endTime":1365.38,"body":"the credits, once the credits"},{"speaker":"John Carson","startTime":1361.3600000000001,"endTime":1365.38,"body":"become available, he was able to"},{"speaker":"John Carson","startTime":1365.38,"endTime":1370.66,"body":"take that to his banker, who got"},{"speaker":"John Carson","startTime":1365.38,"endTime":1370.66,"body":"him a loan alongside the REAP"},{"speaker":"John Carson","startTime":1370.66,"endTime":1374.5,"body":"grant. I think it was to said,"},{"speaker":"John Carson","startTime":1370.66,"endTime":1374.5,"body":"Hey, if you get the REAP grant"},{"speaker":"John Carson","startTime":1374.5,"endTime":1378.6100000000001,"body":"and you get this, we can make"},{"speaker":"John Carson","startTime":1374.5,"endTime":1378.6100000000001,"body":"this happen. And so it literally"},{"speaker":"John Carson","startTime":1378.6100000000001,"endTime":1382.1200000000001,"body":"took a project that was just"},{"speaker":"John Carson","startTime":1378.6100000000001,"endTime":1382.1200000000001,"body":"hypothetical, this on someone's"},{"speaker":"John Carson","startTime":1382.1200000000001,"endTime":1385.96,"body":"sales pipeline to having solar"},{"speaker":"John Carson","startTime":1382.1200000000001,"endTime":1385.96,"body":"panels in the ground. Why?"},{"speaker":"John Carson","startTime":1385.96,"endTime":1389.14,"body":"Because they had an exit"},{"speaker":"John Carson","startTime":1385.96,"endTime":1389.14,"body":"strategy on the tax credits."},{"speaker":"John Carson","startTime":1389.17,"endTime":1393.04,"body":"They can monetize that so they"},{"speaker":"John Carson","startTime":1389.17,"endTime":1393.04,"body":"can pay down the loan, or what"},{"speaker":"John Carson","startTime":1393.04,"endTime":1396.1000000000001,"body":"have you. And it's like I said"},{"speaker":"John Carson","startTime":1393.04,"endTime":1396.1000000000001,"body":"before, it's a it's a total game"},{"speaker":"John Carson","startTime":1396.1000000000001,"endTime":1399.55,"body":"changer. And as as I think the"},{"speaker":"John Carson","startTime":1396.1000000000001,"endTime":1399.55,"body":"IRA was designed to do,"},{"speaker":"Tim Montague","startTime":1400.93,"endTime":1406.27,"body":"yeah, yeah. I"},{"speaker":"Tim Montague","startTime":1400.93,"endTime":1406.27,"body":"mean, I really, I like this,"},{"speaker":"Tim Montague","startTime":1406.27,"endTime":1411.67,"body":"because not all corporate"},{"speaker":"Tim Montague","startTime":1406.27,"endTime":1411.67,"body":"entities have a tax liability,"},{"speaker":"Tim Montague","startTime":1412.0,"endTime":1416.77,"body":"and so the transferability of"},{"speaker":"Tim Montague","startTime":1412.0,"endTime":1416.77,"body":"their of their tax credits is"},{"speaker":"Tim Montague","startTime":1416.77,"endTime":1420.94,"body":"very, very important, right? And"},{"speaker":"Tim Montague","startTime":1416.77,"endTime":1420.94,"body":"then there's also the direct pay"},{"speaker":"Tim Montague","startTime":1422.14,"endTime":1427.96,"body":"for nonprofits, which includes"},{"speaker":"Tim Montague","startTime":1422.14,"endTime":1427.96,"body":"schools, municipalities, 501, C,"},{"speaker":"Tim Montague","startTime":1427.96,"endTime":1432.7,"body":"threes. And that was, that was"},{"speaker":"Tim Montague","startTime":1427.96,"endTime":1432.7,"body":"also a very significant Delta."},{"speaker":"Tim Montague","startTime":1433.21,"endTime":1433.72,"body":"Mm, hmm,"},{"speaker":"John Carson","startTime":1434.08,"endTime":1437.05,"body":"absolutely. And"},{"speaker":"John Carson","startTime":1434.08,"endTime":1437.05,"body":"what those nonprofits can elect"},{"speaker":"John Carson","startTime":1437.47,"endTime":1440.47,"body":"to use tax credits rather than"},{"speaker":"John Carson","startTime":1437.47,"endTime":1440.47,"body":"direct pay. The direct pay, as"},{"speaker":"John Carson","startTime":1440.47,"endTime":1444.91,"body":"you know, they have to put, they"},{"speaker":"John Carson","startTime":1440.47,"endTime":1444.91,"body":"have to front the cash and then"},{"speaker":"John Carson","startTime":1445.3,"endTime":1447.67,"body":"apply for the direct pay. And I"},{"speaker":"John Carson","startTime":1445.3,"endTime":1447.67,"body":"don't know how many months that"},{"speaker":"John Carson","startTime":1447.67,"endTime":1451.93,"body":"could be, 1214, months before"},{"speaker":"John Carson","startTime":1447.67,"endTime":1451.93,"body":"the direct pay hits. It may be"},{"speaker":"John Carson","startTime":1451.93,"endTime":1454.57,"body":"less than that, depending on the"},{"speaker":"John Carson","startTime":1451.93,"endTime":1454.57,"body":"time of the year. Yeah. But they"},{"speaker":"John Carson","startTime":1454.57,"endTime":1457.69,"body":"could also, like, transfer the"},{"speaker":"John Carson","startTime":1454.57,"endTime":1457.69,"body":"credits and not have to come as"},{"speaker":"John Carson","startTime":1457.69,"endTime":1460.72,"body":"far out, as far as cash. So"},{"speaker":"Tim Montague","startTime":1460.72,"endTime":1464.5,"body":"what? What is the"},{"speaker":"Tim Montague","startTime":1460.72,"endTime":1464.5,"body":"lifespan of a, of a, you know,"},{"speaker":"Tim Montague","startTime":1464.5,"endTime":1469.3600000000001,"body":"from conversation to contract."},{"speaker":"Tim Montague","startTime":1464.5,"endTime":1469.3600000000001,"body":"How long does it take to make"},{"speaker":"Tim Montague","startTime":1469.3600000000001,"endTime":1470.41,"body":"these deals happen?"},{"speaker":"John Carson","startTime":1470.95,"endTime":1475.0,"body":"Yeah, I would say,"},{"speaker":"John Carson","startTime":1470.95,"endTime":1475.0,"body":"if we're if we're talking about"},{"speaker":"John Carson","startTime":1475.0,"endTime":1477.79,"body":"selling credits or pre selling"},{"speaker":"John Carson","startTime":1475.0,"endTime":1477.79,"body":"credits, if we're talking about"},{"speaker":"John Carson","startTime":1477.79,"endTime":1480.94,"body":"selling credits that are readily"},{"speaker":"John Carson","startTime":1477.79,"endTime":1480.94,"body":"available, then I would say it"},{"speaker":"John Carson","startTime":1480.94,"endTime":1484.6000000000001,"body":"can be as little as 30 to 60"},{"speaker":"John Carson","startTime":1480.94,"endTime":1484.6000000000001,"body":"days, assuming that there's a"},{"speaker":"John Carson","startTime":1485.32,"endTime":1488.65,"body":"smooth registration process with"},{"speaker":"John Carson","startTime":1485.32,"endTime":1488.65,"body":"the IRS and so forth. And we"},{"speaker":"John Carson","startTime":1488.65,"endTime":1492.19,"body":"can, we can find a buyer for"},{"speaker":"John Carson","startTime":1488.65,"endTime":1492.19,"body":"these because there's so much"},{"speaker":"John Carson","startTime":1492.73,"endTime":1496.78,"body":"taxpayer demand for these"},{"speaker":"John Carson","startTime":1492.73,"endTime":1496.78,"body":"credits, if it's a, if it's now,"},{"speaker":"John Carson","startTime":1496.78,"endTime":1502.72,"body":"the Treasury is also allowed Tim"},{"speaker":"John Carson","startTime":1496.78,"endTime":1502.72,"body":"for buyers to pre for actually,"},{"speaker":"John Carson","startTime":1502.72,"endTime":1506.5,"body":"sellers to pre sell the credits"},{"speaker":"John Carson","startTime":1502.72,"endTime":1506.5,"body":"that are going to be created in,"},{"speaker":"John Carson","startTime":1506.5,"endTime":1510.19,"body":"say, you know, nine months or 10"},{"speaker":"John Carson","startTime":1506.5,"endTime":1510.19,"body":"months, or what have you. Now,"},{"speaker":"John Carson","startTime":1510.22,"endTime":1514.63,"body":"we're able to do that as well."},{"speaker":"John Carson","startTime":1510.22,"endTime":1514.63,"body":"We can line up a buyer, say,"},{"speaker":"John Carson","startTime":1514.66,"endTime":1516.88,"body":"first of September, to buy"},{"speaker":"John Carson","startTime":1514.66,"endTime":1516.88,"body":"credits that are going to be"},{"speaker":"John Carson","startTime":1516.88,"endTime":1519.6100000000001,"body":"generated first of April, or"},{"speaker":"John Carson","startTime":1516.88,"endTime":1519.6100000000001,"body":"what have you. Now, obviously"},{"speaker":"John Carson","startTime":1519.6100000000001,"endTime":1523.33,"body":"that takes longer, but it's it"},{"speaker":"John Carson","startTime":1519.6100000000001,"endTime":1523.33,"body":"is also another, not to abuse"},{"speaker":"John Carson","startTime":1523.33,"endTime":1527.6200000000001,"body":"the term, but a game changer in"},{"speaker":"John Carson","startTime":1523.33,"endTime":1527.6200000000001,"body":"regard to that demand and that"},{"speaker":"John Carson","startTime":1527.6200000000001,"endTime":1531.67,"body":"financing of the solar facility,"},{"speaker":"John Carson","startTime":1527.6200000000001,"endTime":1531.67,"body":"the renewable energy facility,"},{"speaker":"John Carson","startTime":1531.8500000000001,"endTime":1533.89,"body":"to be able to pre sell the"},{"speaker":"John Carson","startTime":1531.8500000000001,"endTime":1533.89,"body":"credit, saying, I know these"},{"speaker":"John Carson","startTime":1533.89,"endTime":1538.78,"body":"credits are going to come online"},{"speaker":"John Carson","startTime":1533.89,"endTime":1538.78,"body":"at this date. Once the the the"},{"speaker":"John Carson","startTime":1538.78,"endTime":1542.14,"body":"switch is turned on, the place"},{"speaker":"John Carson","startTime":1538.78,"endTime":1542.14,"body":"and service goes in, we're able"},{"speaker":"John Carson","startTime":1542.14,"endTime":1546.01,"body":"to pre sell those credits in"},{"speaker":"John Carson","startTime":1542.14,"endTime":1546.01,"body":"those situations, it can be a"},{"speaker":"John Carson","startTime":1546.01,"endTime":1550.48,"body":"very quick time turn around,"},{"speaker":"John Carson","startTime":1546.01,"endTime":1550.48,"body":"assuming that the IRS"},{"speaker":"John Carson","startTime":1550.48,"endTime":1556.06,"body":"registration works smoothly as"},{"speaker":"John Carson","startTime":1550.48,"endTime":1556.06,"body":"well as there's a due diligence"},{"speaker":"John Carson","startTime":1556.06,"endTime":1558.97,"body":"report noting the number of"},{"speaker":"John Carson","startTime":1556.06,"endTime":1558.97,"body":"credits to which Your clients"},{"speaker":"John Carson","startTime":1560.83,"endTime":1561.43,"body":"eligible."},{"speaker":"Tim Montague","startTime":1562.81,"endTime":1565.99,"body":"So what else"},{"speaker":"Tim Montague","startTime":1562.81,"endTime":1565.99,"body":"should my listeners know about"},{"speaker":"Tim Montague","startTime":1566.02,"endTime":1568.9,"body":"tax credit, finance for"},{"speaker":"Tim Montague","startTime":1566.02,"endTime":1568.9,"body":"distributed generation?"},{"speaker":"John Carson","startTime":1569.41,"endTime":1572.29,"body":"I would want them"},{"speaker":"John Carson","startTime":1569.41,"endTime":1572.29,"body":"to know that don't think there's"},{"speaker":"John Carson","startTime":1572.29,"endTime":1576.46,"body":"not an option. There are options"},{"speaker":"John Carson","startTime":1572.29,"endTime":1576.46,"body":"out there, and we can, we can"},{"speaker":"John Carson","startTime":1576.46,"endTime":1580.27,"body":"work with EPCs, we work also"},{"speaker":"John Carson","startTime":1576.46,"endTime":1580.27,"body":"with renewable energy, tax"},{"speaker":"John Carson","startTime":1580.27,"endTime":1583.69,"body":"attorneys and firms and so"},{"speaker":"John Carson","startTime":1580.27,"endTime":1583.69,"body":"forth, to structure something"},{"speaker":"John Carson","startTime":1583.69,"endTime":1588.46,"body":"where we're able to sell credits"},{"speaker":"John Carson","startTime":1583.69,"endTime":1588.46,"body":"on a spot basis. We're able to"},{"speaker":"John Carson","startTime":1588.46,"endTime":1592.6000000000001,"body":"pre sell credits, and we're also"},{"speaker":"John Carson","startTime":1588.46,"endTime":1592.6000000000001,"body":"able to go to our tax person,"},{"speaker":"John Carson","startTime":1592.6000000000001,"endTime":1594.97,"body":"say, we have these credits"},{"speaker":"John Carson","startTime":1592.6000000000001,"endTime":1594.97,"body":"coming. Would you like to buy"},{"speaker":"John Carson","startTime":1594.97,"endTime":1598.96,"body":"them in 25 in 26 or what have"},{"speaker":"John Carson","startTime":1594.97,"endTime":1598.96,"body":"you, and go ahead and line up"},{"speaker":"John Carson","startTime":1598.96,"endTime":1602.05,"body":"that tax credit finance. But"},{"speaker":"John Carson","startTime":1598.96,"endTime":1602.05,"body":"what I would say, more than"},{"speaker":"John Carson","startTime":1602.05,"endTime":1605.08,"body":"anything. Your buyers. Tim is,"},{"speaker":"John Carson","startTime":1602.05,"endTime":1605.08,"body":"don't assume just because you're"},{"speaker":"John Carson","startTime":1605.08,"endTime":1610.42,"body":"not 100 megawatt facility,"},{"speaker":"John Carson","startTime":1605.08,"endTime":1610.42,"body":"utility scale solar, don't"},{"speaker":"John Carson","startTime":1610.42,"endTime":1614.47,"body":"assume there's not a avenue for"},{"speaker":"John Carson","startTime":1610.42,"endTime":1614.47,"body":"monetizing your credits, because"},{"speaker":"John Carson","startTime":1614.47,"endTime":1618.3700000000001,"body":"we're here serving specifically"},{"speaker":"John Carson","startTime":1614.47,"endTime":1618.3700000000001,"body":"that DG space, which, again,"},{"speaker":"John Carson","startTime":1618.3700000000001,"endTime":1621.07,"body":"like I said, I believe it's"},{"speaker":"John Carson","startTime":1618.3700000000001,"endTime":1621.07,"body":"underserved, but we're here to"},{"speaker":"John Carson","startTime":1621.07,"endTime":1622.54,"body":"help. Very"},{"speaker":"Tim Montague","startTime":1622.54,"endTime":1625.39,"body":"good. Well, check"},{"speaker":"Tim Montague","startTime":1622.54,"endTime":1625.39,"body":"out all of our content at"},{"speaker":"Tim Montague","startTime":1625.39,"endTime":1629.8,"body":"cleanpowerhour.com please tell a"},{"speaker":"Tim Montague","startTime":1625.39,"endTime":1629.8,"body":"friend about the show. Give us a"},{"speaker":"Tim Montague","startTime":1629.8,"endTime":1633.6100000000001,"body":"rating and a review on Apple or"},{"speaker":"Tim Montague","startTime":1629.8,"endTime":1633.6100000000001,"body":"Spotify and reach out to me on"},{"speaker":"Tim Montague","startTime":1633.6100000000001,"endTime":1638.08,"body":"LinkedIn. I love hearing from"},{"speaker":"Tim Montague","startTime":1633.6100000000001,"endTime":1638.08,"body":"our listeners. You can also meet"},{"speaker":"Tim Montague","startTime":1638.08,"endTime":1641.6200000000001,"body":"me face to face at any number of"},{"speaker":"Tim Montague","startTime":1638.08,"endTime":1641.6200000000001,"body":"industry events. I will"},{"speaker":"Tim Montague","startTime":1641.6200000000001,"endTime":1644.77,"body":"definitely be at re plus in"},{"speaker":"Tim Montague","startTime":1641.6200000000001,"endTime":1644.77,"body":"Anaheim, California in"},{"speaker":"Tim Montague","startTime":1644.77,"endTime":1649.78,"body":"September, as well as the solar"},{"speaker":"Tim Montague","startTime":1644.77,"endTime":1649.78,"body":"farm Summit, if this gets to you"},{"speaker":"Tim Montague","startTime":1649.78,"endTime":1654.31,"body":"before that event in early July."},{"speaker":"Tim Montague","startTime":1649.78,"endTime":1654.31,"body":"And with that, I want to thank"},{"speaker":"Tim Montague","startTime":1654.31,"endTime":1657.13,"body":"John Carson, the managing"},{"speaker":"Tim Montague","startTime":1654.31,"endTime":1657.13,"body":"partner and founder of Armagh"},{"speaker":"Tim Montague","startTime":1657.13,"endTime":1659.65,"body":"Capital, for coming on the show"},{"speaker":"Tim Montague","startTime":1657.13,"endTime":1659.65,"body":"today. Thank you so much. John"},{"speaker":"John Carson","startTime":1659.95,"endTime":1661.99,"body":"Tim, thank you so"},{"speaker":"John Carson","startTime":1659.95,"endTime":1661.99,"body":"much armaghcapital.com."},{"speaker":"Tim Montague","startTime":1662.51,"endTime":1664.43,"body":"Thank you so much."},{"speaker":"Tim Montague","startTime":1662.51,"endTime":1664.43,"body":"All right, take care."}]}