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 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 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
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 Promotes Tom Short to Vice President of Consulting and Client Relations

Apr 04, 2023

Folsom, CA, March 30, 2023 – Trimark Associates, Inc., the industry leader in intelligent energy control, advanced metering, and regulatory…

Learn More
Names Rajinita Haumschilt

Trimark Names Rajinita Haumschilt as Financial Controller

Apr 28, 2023

Controller to Lead Trimark Accounting Team and Processes Folsom, CA, April 28, 2023 – Trimark Associates, Inc. (Trimark), the industry…

Learn More

Cloud-Based ADS Supports Participation in Ancillary Services Market

Oct 06, 2023

Folsom, CA, October 6, 2023 – Trimark has introduced cloud-based, Automatic Dispatch System (ADS) services to help small BESS and…

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
SBES

Edwards Sanborn

Jun 26, 2023

Project Type: 810MW AC Hybrid Site (Solar + BESS) comprised of seven separate resouces Location: Mojave, CA Client/EPC: Terra-Gen Trimark…

Learn More
U.S. Navy – Naval District Washington Energy Management

U.S. Navy – Naval District Washington Energy Management

Jan 01, 2019

Installed 1,043 advanced energy meters to track energy usage throughout Northern Virginia, Washington D.C., and Maryland. Work involved 14 separate…

Learn More
Luna-BESS-from-Above

Luna BESS

Jun 26, 2023

Project Type: 100 MW AC coupled BESS Location: Lancaster, CA Client/EPC: AES Luna BESS supports power stability by addressing the…

Learn More
Alta Wind 4, 5, 8, and 9

Alta Wind 4, 5, 8, and 9

Jan 06, 2019

> Project Type: CAISO meter replacements Alta Wind 4 & 5 – Owned by Clearway Energy Alta Wind 8 –…

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