IRS Notice 2024-41 provides taxpayers with a clearer path toward qualifying for domestic content bonus tax credits through a new elective safe harbor....more
Proposed regulations clarify FEOC restrictions and clean vehicle tax credit compliance for manufacturers aiming to produce eligible EVs.
As countries around the world accelerate the transition to clean energy, the race to...more
As we pass the first anniversary of the Inflation Reduction Act, the project finance markets are beginning to coalesce around novel financing structures designed to make optimal use of the new tax credit subsidies that the US...more
The proposed rules for monetizing tax credits should catalyze energy transition markets and offer an alternative to tax equity transactions.
On June 14, 2023, the IRS issued proposed rules for how it intends to administer...more
IRS Notice explains how a renewable energy project may qualify for bonus tax credits by using American-made components.
Key Points:
..All project components made primarily of steel or iron that perform a structural...more
5/22/2023
/ Batteries ,
Buy America ,
Energy Projects ,
IRS ,
Lithium Batteries ,
Made in the USA ,
Proposed Rules ,
Renewable Energy ,
Solar Energy ,
Tax Credits ,
Wind Power
The Notice enables developers and investors to more easily determine the Energy Community status of projects.
Key Points:
..The IRS and the Treasury Department have provided tables to assist in determining eligibility...more
4/7/2023
/ Brownfield Properties ,
CERCLA ,
Coal ,
Coal Industry ,
Energy Projects ,
Energy Sector ,
Investment Tax Credits ,
IRS ,
Offshore Wind ,
Production Tax Credit ,
Renewable Energy ,
Tax Credits
The Inflation Reduction Act ushers in the largest clean energy tax credit package in US history.
Key Points:
• Wind and solar tax credits receive a multi-year extension at full rates, and solar projects are eligible...more
8/18/2022
/ Biden Administration ,
Carbon Capture and Sequestration ,
Climate Change ,
Energy Tax Incentives ,
Green Energy ,
Inflation Reduction Act (IRA) ,
Investment Tax Credits ,
Production Tax Credit ,
Renewable Energy ,
Renewable Energy Incentives ,
Tax Credits
The Inflation Reduction Act, which includes the most dramatic expansion of clean energy tax credits in recent history, would provide a multi-year extension of existing tax credits for wind and solar, increase tax credits for...more
8/1/2022
/ Carbon Capture and Sequestration ,
Clean Energy ,
Emerging Technology Companies ,
Energy Sector ,
Energy Tax Incentives ,
Investment Tax Credits ,
Pending Legislation ,
Production Tax Credit ,
Renewable Energy ,
Solar Energy ,
Tax Credits ,
Tax Incentives ,
Wind Power
In a new Revenue Ruling, the IRS addresses the scope, ownership, and placed-in-service date for carbon capture equipment.
Key Points:
..Developers adding carbon capture equipment to an existing industrial facility now...more
The US Treasury Department and the IRS provided practical administrative rules for the carbon capture and sequestration tax credit.
Key Points:
..The IRS finalized the third set of rules in a series of regulatory guidance...more
1/22/2021
/ Carbon Capture and Sequestration ,
Carbon Emissions ,
Climate Change ,
Energy Projects ,
Energy Sector ,
Final Rules ,
IRS ,
Popular ,
Renewable Energy ,
Tax Credits ,
U.S. Treasury
Congress extends tax credits for certain renewables, and expands tax credits for offshore wind and waste energy recovery.
Key Points:
..Production tax credits for onshore and offshore wind projects are extended at a 60%...more
12/29/2020
/ Carbon Capture and Sequestration ,
Coronavirus/COVID-19 ,
Energy Projects ,
Energy Sector ,
Investment Tax Credits ,
Offshore Wind ,
Production Tax Credit ,
Renewable Energy ,
Solar Energy ,
Tax Credits ,
Tax Relief
The Treasury Department and the IRS provided practical administrative rules for the carbon capture and sequestration tax credit.
Key Points:
..These rules are the third in a series of regulatory guidance issued by the IRS...more
Market participants can comment on new details related to the requirements, time periods, and permitted transfers of carbon credits.
On May 28, the IRS released the long-awaited third piece of carbon capture tax credit...more
The IRS addressed key commercial and technical issues regarding the development and financing of carbon capture and sequestration projects.
Key Points:
..The IRS released the first two of three anticipated guidance...more
A favorable outcome for wind and other renewable projects, but solar and storage are left out.
Key Points:
..Qualifying wind projects on which construction begins after December 31, 2019 and before January 1, 2021 will...more
IRS seeks comments on key technical questions under the 45Q Credit regime that should spur industry growth.
Key Points:
..The 45Q Credit, which was significantly broadened in 2018, provides a tax credit for each metric...more
New rules provide wind developers with additional time to satisfy a critical safe harbor.
On December 15, 2016, the Internal Revenue Service (IRS) issued Notice 2017-4, which modifies the “continuity safe harbor” as set...more