Viewpoint: Opportunity Zones Can Drive Development Of US Renewable Energy
By James Ellsmoor
In the United States, Opportunity Zones (OZs) have provided developers with new possibilities. The race is now on to determine whether renewable energy developers can catch up to their real estate counterparts in utilizing this new tool. Opportunity Zones are defined as “economically-distressed communities where new investments, under certain conditions, may be eligible for preferential tax treatment.”
OZs are located in 8,700 communities across all 50 states and the 5 US territories, including 878 in California and 862 in Puerto Rico. With over 30 million people living within these areas, this incentive creates one of the largest development markets in the United States.
Photo courtesy of ponyrojo.