This report from Crux unpacks the current state of the market for 2024 tax credits based upon a database of over $6.8 billion in transactions of 2024 tax credits closed in the first half of 2024, including deals reported by more than 100 market participants, Cruxʼs commercial deal activity, and publicly announced deals.

This is a meaningful increase in the size of the data set from Crux’s 2023 Market Intelligence Report MIR, which identified $3.5 billion of specific transactions. The Mid-Year MIR is another material step towards building liquidity and transparency into the tax credit market. Crux estimates this dataset reflects 65-75% of market activity, and is the most comprehensive tax credit transfer data set.

ACP members get access to an extended version of the report — it contains 25% more data, including pricing curves and insurance trends by technology type.