The Inflation Reduction Act of 2022 created two new ways to monetize renewable energy tax credits (RETCs): 1) transferability, the ability to transfer certain RETCs as if they were separate property, and 2) elective pay or direct pay, the ability for certain tax-exempt owners of renewable energy property to report certain RETCs on their tax returns, and in turn, have the Internal Revenue Service refund the tax credits. Treasury recently held separate public hearings on their proposed guidance for transferability and for elective pay. In this week's episode, Michael Novogradac, CPA, and Novogradac partner Alvin Lee, CPA, discuss where the industry stands on using transferability and elective pay, when renewable energy property owners might consider the various options and what types of stakeholder questions remain.