Sources confirm that Walker Reid Strategies and Blue Energy Group, two of the industry’s top energy tax incentive firms, have agreed in principle to merge. An official announcement is anticipated in the coming weeks.
The proposed merger would unite two recognized leaders in 179D and 45L tax certifications, energy engineering, and Investment Tax Credit (ITC) compliance services, forming one of the largest firms in the sector. According to individuals close to the deal, senior executives from both organizations will lead the combined company.
This strategic integration is expected to expand the combined firms’ capabilities and elevate client service delivery at a time when demand for energy tax incentive expertise is accelerating. By merging complementary operations, the new entity will offer a comprehensive suite of solutions, including 179D and 45L tax certifications, ITC, domestic content and prevailing wage compliance, and energy engineering services. These offerings will serve a diverse client base that includes CPA firms, specialty tax firms, Energy Service Companies (ESCOs), building owners, developers, architects, and engineers.
David Diaz, Managing Partner of Walker Reid Strategies, recently underscored the market momentum and need for scale:
“The energy tax credit and engineering industry has been on a strong upward trajectory since the passage of the Inflation Reduction Act. While there’s broad expectation that the current administration may pursue adjustments to existing policies, we don’t foresee any major disruptions to the market. If anything, the landscape is becoming more complex — and that complexity requires adaptation and growth.”
Energy tax incentive firms play a crucial role in helping building owners and businesses qualify for energy-related tax benefits. These firms apply engineering and tax capabilities to identify tax incentives, analyze energy improvements, prepare technical documentation, support tax claims, and advise businesses on strategies to maximize energy tax savings.
Until a final agreement is reached, the companies have stated they will not provide further comment.
