Introduction
Established in 2013, Davis Hill Development (DHD) provides turnkey solutions to municipalities, businesses, and landowners. With ownership and operation of more than 150 solar projects across 15 states, DHD helps building owners reduce energy costs through on-site and off-site solar installations, as well as community solar subscriptions for individuals. Through its community solar projects, DHD makes solar power accessible to disadvantaged communities, helping low-to-moderate income (LMI) residents save on energy costs while promoting energy equity. The company leases rooftops, parking lots, or empty lots for community solar power projects, providing annual rent for underutilized real estate.
Challenge:
Scaling development amidst policy shifts
DHD historically internalized all its tax equity, successfully managing its financial strategies in-house. However, with the passage of the Inflation Reduction Act (IRA), DHD decided to expand its commercial and community solar pipeline. The ability to transfer tax credits created a pivotal moment, allowing DHD to monetize its tax credits beyond its tax liability and without complicated tax structures. As development grew, and the volume of financing transactions increased, DHD required efficient handling of each credit transfer to avoid adding significant administrative burdens.
“With the IRA’s passage, we were excited to scale our development efforts,” said Tyler Popick, Finance Manager at DHD. “But the increasing volume of tax credits from multiple smaller projects meant we needed a way to maximize value without getting bogged down by the logistics.”
Solution:
Evergrow’s tech-enabled platform simplifies and accelerates growth
DHD turned to Evergrow’s innovative platform to streamline the transfer of tax credits from commercial solar projects. Evergrow’s tech-enabled solution made it financially feasible to monetize credits that previously would have been too small to attract traditional tax equity investors. This new capability allowed DHD to confidently expand its project portfolio without worrying about managing the tax credit transfer process
“Being able to transfer credits from small projects so easily has been fantastic,” Tyler explained. “Evergrow’s platform gives us the flexibility to efficiently monetize tax credits from a wide range of projects, helping us drive growth without slowing down.”
Unmatched personalized support for seamless transactions
Evergrow’s platform didn’t just provide a tech solution; it also offered exceptional support. “Instead of going to the IRS website and trying to figure this out, we can just talk to Evergrow and they’ll help us sort it out,” said Micah Brill, VP of Asset Management and Development at DHD. Evergrow handled the entire process—from due diligence to coordination with third-party validations—making the transactions seamless and efficient.
Transformative user experience
Evergrow’s platform turned what could have been a complicated, resource-draining process into a streamlined operation. “The back-and-forth with Evergrow was helpful; it built rapport and camaraderie,” Tyler added. The user-friendly platform allowed DHD to focus on developing renewable energy projects, while Evergrow managed the details of tax credit transfers. The simplicity and efficiency of Evergrow’s platform have led DHD to adopt it as their go-to solution for managing the sale of the tax credits it generates.
”Logging in and navigating the platform is as easy as opening an email. The intuitive drag-and-drop functionality for uploading files and the platform’s clean, organized layout made managing projects effortless.” Evergrow’s clear, step-by-step guidance ensured that DHD always knew what to do next, eliminating guesswork and expediting project timelines.”
—Tyler Popick, Finance Manger
Conclusion
DHD’s partnership with Evergrow has been instrumental in supporting its rapid growth. By providing a simple, efficient way to monetize tax credits, Evergrow has enabled DHD to scale its commercial and community solar initiatives while staying focused on its core mission of expanding clean energy across the U.S.