From Uncertainty to Execution: Post-OB3 Tax Credit Market for 2026–2027

Foss & Company recently hosted a webinar with Bloomberg Intelligence to discuss clean energy tax credits in the post–One Big Beautiful Bill (OB3) environment and what market participants should prioritize in 2026. The panel featured Bryen Alperin, Foss & Company Managing Director & Partner, and Kevin Haley, Foss & Company Senior Vice President of Investments, alongside Bloomberg Intelligence Senior Analysts Rob Barnett, who covers global solar, wind, and carbon, and Andrew Silverman, who covers U.S. tax policy. 

Market Backdrop: Data Center Power Demand & Post-OB3 Clean Energy Credits 

Bloomberg Intelligence provided market context on power demand and the pace of development. Data center growth and domestic manufacturing continue to add to U.S. electricity demand, with constraints on new conventional generation capacity reinforcing the role of renewables and storage in meeting near-term needs.  

What OB3 Changes: Timing, Planning & Strategy 

The discussion then focused on what OB3 changes for transactions and project planning. Many clean energy credits remain in place, and transferability and direct pay continue to be available tools. The most immediate pressure point is timing for wind and solar. The panel reviewed accelerated timelines that increase the importance of “begin construction” strategies and placing-in-service planning, supported by documentation that can withstand buyer and investor diligence. 

“Begin Construction” In Practice 

The panel also addressed how “begin construction” is evaluated in practice. While the market is familiar with “begin construction” frameworks, wind and solar now face more specific rules that put greater weight on physical work and continuity. Developers are applying established approaches to support eligibility, and buyers are underwriting construction methodology and recordkeeping with greater scrutiny. 

Diligence Focus: FEOC & Supply Chains 

Diligence priorities are also shifting. Foreign-entity related restrictions, also known as Foreign Entity of Concern (FEOC) restrictions and supply chain exposures, are now central workstreams for many transactions. The panel discussed how these requirements can affect contracting and procurement decisions, as well as representations, covenants, and risk allocation between parties. Related considerations, including material assistance analysis and questions around control, are increasingly shaping how investors and buyers’ structure deal.  

Bryen and Kevin also shared market observations from the second half of 2025 into early 2026. Shifts in corporate tax planning affected buyer behavior and pricing in parts of the transfer market, with activity beginning to stabilize as tax liability forecasts firm up and participants plan for 2026 and 2027 transactions.  

As market participants move from uncertainty to execution, 2026 planning will be defined by how quickly and confidently teams can document eligibility, manage FEOC and supply chain risk and align transaction structures with evolving buyer diligence. Contact us to schedule a 2026 clean energy tax credit strategy call with Foss & Company 

Watch the webinar 

Find the full recording of the webinar here.