Trimark’s Domestic Content Documentation Supports IRA Tax Bonus Claims

Trimark has a long history of buying devices that are manufactured in the U.S. So when the Inflation Reduction Act of 2022 (IRA) promised a 10% tax bonus for building clean power with domestically-produced products, Trimark had a giant head start.

“Because our systems monitor and control critical power infrastructure, Trimark buys U.S. manufactured equipment whenever possible,” stated Mark Morosky, Trimark President and CEO. “Our systems meet or exceed the requirements of the IRA. We’ve been dedicated to that principle for more than 23 years.”

Internal Revenue Service (IRS) Notice 2023-38 established guidance on the tax bonus and associated standards for domestic content. The rules are thoroughly explained by firms like McGuireWoods and Mintz.

“Country of origin and costs depend on many factors including the manufacturer, bid specifications, product availability, and more,” explained Kathryn Wright, Trimark’s Director Production & Field Services.

“Trimark tracks every component in every assembly by serial number,” added Wright. “That allows us to support independent Cost Segregation Studies with documentation on the country of origin, direct-cost certificates, and other required information.”

Compliance with IRA reporting standards is not trivial. According to a related KPMG document, “It is important to be thoughtful about how communications are prepared, how information is requested, validated and stored to minimize concerns. If needed, companies may consider engaging a third party to assist in collection of sensitive data on their behalf.”

Disclaimer: This document is not intended to provide accounting, business, or tax advice nor is it sufficient to avoid tax-related penalties. Trimark recommends that you consult with your tax advisor to research the applicability of this matter to your firm and/or projects.

About Trimark

Trimark Associates, Inc., the industry leader in complex metering and intelligent energy control, delivers industry-leading solutions to allow real-time operational control, enable informed management of power production operations, ensure regulatory compliance, and maximize revenue. Trimark’s turnkey products, engineering, and customer support services control, measure, and manage all aspects of power production that utility-scale power producers require to maintain peak business performance and achieve financial goals.

Trimark News

Trimark to Exhibit at ESNA ’24

Oct 18, 2023

Trimark will exhibit at Intersolar North America / Energy Storage North America (ESNA) January 17 to 19, 2024 in the…

Learn More
Names Rajinita Haumschilt

Trimark Promotes Haumschilt to VP of Finance and Accounting

Feb 12, 2024

Trimark Associates, Inc. (Trimark), the industry leader in intelligent energy control, advanced metering, and regulatory compliance, has announced that Rajinita…

Learn More
Trimark On-Premise Controller Meets NERC-CIP Requirements

Trimark Announces Realtime Monitoring of CAISO RIGs

Jul 06, 2022

Customers can receive alerts if an outage occurs and view details to expedite mitigation. Trimark Associates, Inc., the industry leader…

Learn More

Trimark Now Supports SEL RTAC and NovaTech Orion RIGs in CAISO Market

Feb 01, 2024

Trimark now supports third-party Remote Intelligent Gateways (RIGs) including the SEL RTAC and NovaTech Orion through the Trimark Operations Center….

Learn More

Trimark Guides AES’ Raceway and Estrella PV+BESS Resources Through SCE’s New Interconnection Testing Protocol

Mar 29, 2024

Trimark Associates, Inc. (Trimark) successfully completed pilot testing for the first resources to pass Southern California Edison’s (SCE) strict, new,…

Learn More

Energix Renewables Partners with Trimark to Deliver Portfolio-Wide Ignition SCADA on RTAC

Dec 16, 2022

Trimark Associates, Inc. (Trimark), the industry leader in intelligent energy control, has entered a technology partnership with Energix Renewables to…

Learn More

Projects

Example Projects

Take a minute to see how Trimark has helped resource owners, EPCs, and ISOs change the electric grid.
View All Projects
Antelope Expansion 2 Project

Antelope Expansion 2

Jan 05, 2018

Antelope Expansion 2 Project Project Type: PV rated at 105 MW Location: Lancaster, CA in LA County EPC: D.H. Blattner…

Learn More
Sunshine Valley Substation

Sunshine Valley Substation

Jan 24, 2020

Project Type: PV generating facility rated at 100 MW Location: Amargosa Valley, NV Client/EPC: Electrical Consultants, Inc. Products/Services: Trimark provided…

Learn More
CAISO-RIG

Ellwood Station

Jan 29, 2020

Project Type: Remote Intelligent Gateway (RIG) relocation Location: Oxnard, CA Client/EPC: GenOn Energy Products/Services: Trimark made configuration changes to an…

Learn More
TOC

Clearway Energy Multi-Site Maintenance Service Agreements

Jan 29, 2020

Project Type: PV generating facilities and wind generating facilities – 21 sites Location: CA; one site in AZ Client/EPC: NRG…

Learn More

Ready. Set.

Letʼs go!

Need a SCADA system that optimizes revenue?
Need help meeting interconnection requirements?
Want to stay in the market and avoid fines?

Weʼve got you!

Get Started Today