The Inflation Reduction Act and the One Big Beautiful Bill Act have changed how players in the tax equity space operate. Increasingly, the industry has turned to Hybrid models — most notably the Transfer Flip (T-flip) and the integration of Preferred Equity. Through combining aspects of transferability and traditional tax equity, these hybrid models can offer flexibility and alleviate constraints related to limited access to capital, recapture exposure, and depreciation benefits. This discussion will highlight how major players in the tax equity world are seeing these innovations play out in practice and discuss the considerations certain parties weigh when choosing hybrid structures over other forms when utilizing clean energy tax credits.