On December 22, President Trump signed the $1.5 trillion Tax Cuts and Jobs Act (TCJA) into law, marking the first major overhaul of the U.S. tax code in over 30 years.

As we discussed in our prior blog post here, the TJCA is a mixed bag for the renewable energy industry. On one hand, it cuts the tax rate and provides for 100% expensing for both new and used property. However, on the other hand, it limits interest deductions and includes a complicated new base erosion anti-abuse tax (BEAT) that could claw back tax credits from multinational tax equity investors.