The 2022 Inflation Reduction Act (“IRA”) created a surge of project development, investment and M&A activity in the renewable energy industry and valuation engagements for Marshall & Stevens, starting in early 2023. The increased market activity resulted not just in a greater number of project finance valuation and cost segregation analyses for our Energy & Infrastructure practice, but also an increase in repowering analyses (“80/20”), valuations of energy storage and renewable natural gas projects as well as Financial Reporting Valuation analyses for investment funds.
On other fronts, the SEC’s focus on increased investor transparency led to a wave of independent Fairness Opinions and valuations for de-SPAC and other transactions for our Transaction Advisory Services team.
Real Estate financing and investment has been at a decade-long low, but our Real Estate and Financial Valuation specialists have seen increased interest in valuations of real estate and real estate holding companies as investors take advantage of lower values to transfer a greater percentage of their investments to heirs prior to the huge decrease in the federal lifetime gift tax exemption at the end of 2025.
