An overview of trends in tax credit transfers for sellers - September 2025
A look at market trends and insights, along with some highlights from recent Reunion transactions.
Accelerating investment into renewable energy
Financing has long been an obstacle to renewable energy projects such as solar, battery storage, and geothermal energy. Reunion works with Fortune 1000 corporations to fund renewable energy projects, primarily through the purchase of tax credits. Reunion has led some of the industry's most complex transactions, including multiple deals over $1 billion in volume.
Reunion is deeply involved in every step of the transaction process, from identifying opportunities, providing market data, and digging deep into due diligence and contract negotiation. We provide the transactional expertise and compliance software needed to quickly and confidently transact.
$5B+
Tax credit transfers
led by Reunion since 2024
8+
Supported project
technologies
$60B+
Expected size of the annual transferability market by 2030
Our Story
Deep expertise in clean energy finance
Reunion co-founders Billy Lee and Andy Moon met in 2008, while working at a leading solar development company.
Billy and Andy pioneered early solar financing structures with tax equity and private equity investors, leading some of the first solar transactions with institutions such as US Bank, JP Morgan, Wells Fargo, Bank of America, Key Bank, PNC, Nord/LB, D.E. Shaw, and First Reserve.
Reunion launched shortly after the passage of the 2022 Inflation Reduction Act, and was the first company to launch a digital marketplace to connect tax credit buyers and sellers. Reunion has played a key role in helping dozens of corporate taxpayers make their first tax credit purchases, and works with leading clean energy developers to manage their Prevailing Wage and Apprenticeship compliance requirements.
Reunion is the leading clean energy tax credit platform, having led over $5 billion in transactions since 2024.
Our Values
Our Unique Company Culture
We believe that a strong company culture is a core to creating a great place to work. Reunion has an unusually high number of entrepreneurs on our team, and we all bring a perspective on how to build an effective and impactful company. We have distilled our company culture to six core values.
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Be Kind and Clear
We communicate openly and kindly, embracing disagreement as a chance to learn. We always assume good intentions from our teammates and partners.
Why Not Today?
We challenge ourselves to execute quickly without compromising quality. We make firm, swift decisions, and adjust course based on real-world data.
Own It
We empower team members to step up and own initiatives from start to finish. If we commit to something, we see it through.
Feedback is a Gift
We strive for continuous learning and improvement both as a company and as individuals. We welcome feedback as an opportunity to learn and grow.
Read the Footnotes
The details really matter in our business; we dive into the nitty gritty, and strive to be world class experts in our field.
Don’t Skip Lunch
Have fun, celebrate the little things, and remember to enjoy the journey!
Meet Our Founders
Reunion’s founding team has been at the forefront of tax equity innovation since 2006, and previously held leadership roles at venture-backed technology and energy companies. Both Andy and Billy are second-time entrepreneurs.
Andy Moon
Co-Founder and CEO
Andy has worked with leading institutional investors to finance solar energy projects in the US and Europe. While at SunEdison, he structured some of the solar industry's first investments from private equity and bond investors. Andy was previously founder and CEO of SunFarmer, a Y Combinator-backed social enterprise that has completed over 1,500 solar energy installations in Asia. He started his career as a consultant in the energy and sustainability practice at McKinsey and Company.
Andy holds a Phi Beta Kappa honors degree from Stanford University, and was named a 2016 Young Global Leader by the World Economic Forum.
Billy Lee
Co-Founder and President
Billy has been a senior executive and entrepreneur in renewable energy project finance and development for nearly 20 years. He was one of the first employees at SunEdison, overseeing global project finance and tax equity for five years. He also founded and led Bright Plain Renewable Energy, a financing and development platform and joint venture partner with D. E. Shaw Renewable Investments. Immediately prior to launching Reunion, he was EVP at Source Global, PBC, a renewable water company.
Billy holds an AB from Harvard College and an MBA from Harvard Business School. He lives in San Francisco with his wife and three children.
Meet the Team
With in-depth expertise in renewable energy finance, technology, and entrepreneurship, we understand the project finance challenges of corporate tax teams and project developers, because we’ve faced them too.
Connie Chern, CPA
Head of Transactions and Finance
Two decades and $3B of transaction experience with tax credits and renewable energy projects. Former CPA at Novogradac, project/structured finance director at SolarCity/Tesla/Silicon Ranch, managing director at NextPower Capital, and founder/CFO at Orka Finance.
Denis Cook
Director, Business Development & Research
Entrepreneur with 15-year background in technology, finance, and environmental consulting. Former co-founder of machine vision focused technology company. Former VP at J.P. Morgan.
Connor Danik
Manager, Transactions & Finance
Previously a manager in PwC’s Deals Valuation practice specializing in the power, utilities and renewables sectors. Focused on financial reporting and tax valuation engagements as well as supporting audit reviews.
Alessio De Falcis
Chief of Staff
Finance and strategy leader with nearly a decade of experience in the clean energy space. Most recently, Director at GoodLeap. Previously, Series B to IPO at Sunnova. Chicago Booth MBA.
Vanessa Fontana
Senior Customer Success Manager
Over 10 years of experience as a Customer Success professional with a focus on helping large organizations achieve their sustainability, ESG, and compliance goals. Previously with Measurabl, supporting clients on data-driven strategies for energy efficiency, climate risk mitigation, environmental reporting, and net-zero target setting.
Dan Kassa
Senior Director, Compliance Technology
Experience working on over $30 billion of construction projects, with a focus on compliance, risk management and financial controls. Most recently, helped lead IRA Prevailing Wage and Apprentice compliance programs at CohnReznick, with experience on 100+ renewable projects exceeding 2 GW. Previously served in a leadership role at Exiger in their construction integrity monitoring practice.
Archisha Majee
Software Engineer
Formerly with Cisco working on various research and incubation projects for the Customer Experience group. Full stack software engineer with a BS in Computer Science from University of Illinois - Urbana-Champaign.
Nishant Mani
GTM Advisor
Climate investor, board member, and GTM executive leader. Held several C-level operator roles across Seed to Series C startups including Yext and Dashlane, after running online advertising for Capital One until 2010.
Alex Melehy
Head of Product & Engineering
Previously founded and sold a legal-tech company to a PE-backed legal practice management platform. Product leader and engineer by training.
Caroline Nevada
Associate Director, Transactions and Finance
Renewables finance professional with 7 years of investment experience (valuation, debt, & tax equity) with infrastructure assets including solar, offshore & onshore wind, energy efficiency, and battery storage. Former valuation manager at Ørsted and board member of Women in Cleantech and Sustainability.
Samantha Padreddii
Director of Marketing
Marketing and communications leader with 9 years of experience building early and growth-stage climate and clean-energy startups. Previously led marketing efforts for the expansion of emerging market clean energy access, grid-edge technologies, and solar technologies, including PV and concentrating solar thermal.
Robby Riley
Senior Software Engineer
Full stack engineer with 9 years of experience building software products in a variety of domains. Previously founded an outdoor sports technology company and a consulting business for early stage SaaS startups.
Danny Robinson
Senior Software Engineer
Full stack engineer with 12 years of software delivery experience. Previously scaled technical teams at rapidly growing companies in the energy trading analytics and fintech industry.
Mahon Walsh
Senior Associate, Sales and Marketing
Energy-sector researcher and communicator, experienced in clean energy procurement and federal incentive application from his time at Guidehouse. Holds a B.S. in Environmental Engineering Science from UC Berkeley.
Katherine Westcott
Associate, Transactions and Finance
Formerly with Nexamp working on distributed solar and storage commercial analytics and project development. Data junkie with an M.S. Analytics from American University and B.S. Environmental Science, Quantitative Energy Systems from UNC Chapel Hill.
Insights
Reunion’s Insights and Industry News
Latest news and insights
Tax Credit Buyer Webinar: Post OBBBA Analysis with Wesco and Mercantile Bank
Domenic Macioce, SVP of Tax at Wesco, and Pete Scudder, FVP and Financial Reporting Manager at Mercantile Bank, share practical insights on approaching tax credit transfers in a post "One Big Beautiful Bill Act" (OBBBA) landscape.
Reunion Accelerates Investment Into Clean Energy
Reunion’s team has been at the forefront of clean energy financing for the last twenty years. We help CFOs and corporate tax teams purchase clean energy tax credits through a detailed and comprehensive transaction process.
