InPipe Energy’s HydroXS® now qualifies for the Inflation Reduction Act
San Francisco, January 31, 2023—InPipe Energy® announced their HydroXS system for recovering energy from water in pressurized pipelines is now qualified as an eligible resource for tax credits under the Inflation Reduction Act of 2022 (IRA). Green energy tax credit incentive programs are available for projects using the HydroXS, with available credits of up to 50 percent of project costs.
The IRA includes the Investment and Production Tax Credits that were instrumental in driving adoption of traditional renewable energy, solar and wind power. The IRA amends the eligibility requirements for renewable energy projects to include energy from pressurized water pipelines. It also adds a direct pay option so that tax-exempt entities, such as utilities and cities can monetize the credit.
“The IRA legislation is a game changer in our fight against climate change. Now, renewable energy from water pipelines is another option in our battle to reduce carbon emissions, save water, and reduce energy costs for front line communities,” said Gregg Semler, founder and chief executive officer of InPipe Energy. “Every U.S. utility can turn water into carbon-free energy and implement these changes using federal government funding. Energy generated turns into real money that can be reinvested to fund other needed critical programs and infrastructure.”
With the HydroXS, utilities can take a giant leap in their smart water initiatives and use advanced data management to regulate water pressure, a necessary task. At the same time, they generate abundant, predictable, clean, low-cost energy.
About InPipe Energy
InPipe Energy is on a mission to help the world practically and economically decarbonize by creating new clean energy resources from existing water pipeline infrastructure. Our flagship product, the HydroXS combines micro-hydropower technology with controls that are easily integrated into existing or new infrastructure to harvest excess water pressure and convert it to clean, low-cost electricity. InPipe Energy provides a turnkey process to support water managers eager to be more efficient, sustainable and resilient. InPipe Energy works with utilities to secure funding to cover the cost of these projects. For more information or to receive your water systems, energy generation, and carbon reduction assessment, visit www.inpipeenergy.com.
Contact: Susan Fortner
Telephone: (614) 562-0054