Solar Tax Equity Co-Investing
Learn about impact investing alongside Nelnet.
Propel your company forward by co-investing your federal tax liability alongside Nelnet’s to unlock shareholder value and address the nation’s most pressing renewable energy needs.
Co-invest your federal tax liability alongside ours to create shareholder value, lower your effective tax rate, and drive sustainability.
We’re a leading tax equity investor into federal solar investment tax credits, having invested over $145M of our own tax liability into low-risk solar energy projects nationwide. This experience, coupled with our proven asset management capabilities, allows us to offer a unique co-investment platform that is based on value creation and awarding-winning customer service.
Why Solar Tax Equity Co-Investment?
Solar tax equity is a low-risk investment made by companies with federal tax liability. These are impact investments that significantly reduce greenhouse emissions and improve public health with cleaner air and water. But they make great financial sense, too.
Short Duration and Early Breakeven
- Investment horizon of 5 to 6 years
- Typical breakeven on invested capital within 8 - 16 months
- Convert tax liabilities into earning assets
- 13-16% after-tax return on investment target
- Approximately 75% of your return is through a federal tax credit backed by the IRS
- Limited development and construction risk; the majority of capital is invested after the projects are fully constructed and generating power
No Administrative Work
- No administrative work required on your part
- Accounting and tax reporting is prepared by Nelnet’s experienced professionals
Co-Invest With An Investor and Manager You Can Trust
We stand behind our tax credit funds by investing our own capital alongside our co-investor partners. We serve as both an investor and a manager, leveraging our asset management group that manages $1.5B of other 3rd party invested assets to mitigate risks and achieve expected returns.
Impact Investment Reporting
Looking for ways to enhance your company’s sustainability (ESG) or corporate social responsibility (CSR) commitments? Great! Nelnet works with your internal team to maximize your investment’s impact across multiple departments.
Benefits of Tax Equity Co-Investing with Nelnet
Socially good. Financially smart. Hassle-free.
Be intentional with your tax dollars. By redirecting your company’s federal tax liability into a solar ITC investment, you can support clean energy projects that advance your company’s sustainability and environmental goals. Choosing to co-invest with Nelnet Renewable Energy – a trusted partner with tax equity expertise – offers the benefit of a simple, hassle-free experience.
- Dedicated project origination, due diligence, and underwriting teams.
- Full suite of asset management services for the duration of your investment.
- Strategic opportunity to invest in an underserved market segment with above-market returns.
- Co-investment alongside Nelnet, Inc. (NYSE: NNI) means no additional headcount or administrative budget for you.
- Nelnet’s 100% alignment with our co-investors as Nelnet has a material amount of capital invested alongside our partners.
- GAAP accounting and tax reporting is provided throughout the investment cycle by Nelnet’s experienced professionals.
- Environmental, Social, and Governance (ESG) and Impact Investing reporting for co-investors provided by Nelnet’s Corporate Sustainability team.
Our Co-Investor Relations Team
Learn more about the team that’s been leading Nelnet Renewable Energy’s successful solar tax equity investments and asset management group. With our leadership team’s expertise and experience, you’ll see why a logical business and investment decision can be one that feels easy and right.
Executive Director, Tax
Scott Gubbels is the Executive Director of Corporate Tax and Renewable Energy at Nelnet. Scott worked as a certified public accountant for eight years before joining Nelnet to lead their corporate tax department when the company went public in 2003. He has managed all tax considerations for more than fifty-five acquisitions, and his team has created significant, tangible value through tax planning, compliance, and controversy defense. During his tenure, Scott managed a payroll and benefits department that improved its processing accuracy by more than 40%, completed a human resource information system conversion, and enabled employee self-service. After transforming this area, he led an effort to implement the Balanced Scorecard, as well as foster strategic planning throughout the organization. Scott then started and led a corporate innovation initiative to create new revenue streams for the enterprise. The innovation group screened ideas and developed products/services into sustainable, scalable businesses, being recognized with the Nebraska Corporate Innovator of the Year award two years in a row under Scott’s leadership. Most recently, Scott is leading Nelnet’s investment and engagement within renewable energy. He oversees the funding and management of $156 million in solar tax equity, completed several equity fundings with co-investors, helped launch Nelnet’s community solar subscription acquisition and management business, and is looking to further Nelnet’s commitment to cleantech and the renewables industry.
Jon Miller, CFA
Director, Tax Equity Capital Markets
Jon Miller is the Director of Tax Equity Capital Markets at Nelnet, CFA Charterholder, and Board Member of Solar Energy International. He has held positions as capital markets advisor, tax equity consultant, investment manager, and debt underwriter. Over the past decade, Miller has transacted on over $1.5 billion of solar and wind projects for some of the nation’s largest developers and institutional investors. Miller holds a BBA in Finance from the University of Wisconsin-Eau Claire and also studied at Murdoch University in Perth, Australia and the University of Kwa-Zulu Natal in Durban, South Africa.
Let's Get Started
If you’re ready to boost your company’s shareholder value, lower your effective tax rate, and drive sustainability, contact us today. We look forward to helping you get started with hassle-free co-investing.