Bloomberg Webinar Recap: What Notice 2026-15 Means for Clean Energy Tax Credits, Material Assistance and Market Risk
In a recent Bloomberg webinar, Bryen Alperin, Managing Director & Partner at Foss & Company, joined Derrick Flakoll of BloombergNEF and Bloomberg Intelligence’s Andrew Silverman to discuss one of the most important recent developments in the clean energy tax credit market under One Big Beautiful Bill (OB3): IRS Notice 2026-15.
The discussion focused on how the notice begins to operationalize the foreign entity of concern (FEOC) framework, with particular emphasis on the material assistance rules. While OB3 established the statutory framework, Notice 2026-15 gives investors and market participants more practical direction on how those rules may apply in real transactions.
Why this matters now
Before the notice, FEOC and material assistance rules were widely recognized as important, but difficult to implement. Investors were left asking practical questions about diligence, documentation and how to evaluate exposure before closing.
As the market works through FEOC and material assistance requirements, participants are focused on how these rules may shape diligence, documentation and transaction execution.
Notice 2026-15 does not answer every open question, but it marks an important step toward a more workable framework. This discussion is especially relevant for investors, developers and manufacturers to better understand where the market is headed.
Why material assistance matters to investors
One of the central themes of the webinar was the growing importance of material assistance in the clean energy market. As these rules begin to take shape, they are becoming more relevant to how investors think of eligibility, risk allocation and overall transaction structure.
The conversation also underscored the various ways in which these issues are not confined to policy alone. They discuss the factors and practical questions related to supply chains and discuss how market participants prepare for evolving compliance expectations.
Where the notice provides meaningful clarity
The webinar highlighted several ways in which Notice 2026-15 begins to give the market a more usable framework. For investors, that added clarity may help support more informed diligence and a more structured approach to evaluating opportunities.
At the same time, the discussion made it clear that the notice is a part of the broader process. The guidance moves the market forward, but it also leaves important areas for continued attention as participants assess how these rules may develop in practice.
Where investors still face friction
The conversation also pointed to the areas where uncertainty remains. As with many regulatory developments, some aspects of implementation may prove more straightforward than others, and some transactions may require a more cautious approach.
For investors, that makes process, documentation and counterparty quality increasingly important. It also reinforced the value of working with experienced advisors who understand both the regulatory landscape and the realities of transaction execution.
Why investors turn to Foss & Company
These are the types of market developments Foss & Company monitors closely across the tax equity landscape. As a leading tax syndicator, Foss helps investors navigate evolving rules with a disciplined approach to diligence, structuring and risk evaluation. In a market where compliance expectations are rising, experience and execution matter.
Contact Foss & Company to discuss how our team can support your clean energy tax credit investment strategy.
Watch the full video recording on the Bloomberg Intelligence website.