While we await the outcome of the upcoming US elections, stakeholders in the energy tax and policy space should recognize that, regardless of the outcome of the election, there will be plenty of activity in the energy sector...more
On June 18, 2024, the US Internal Revenue Service (“IRS”) and Department of the Treasury (“Treasury”) issued final regulations (“Final Regulations”) establishing rules for taxpayers intending to satisfy the prevailing wage...more
6/27/2024
/ Apprenticeships ,
Energy Projects ,
Final Rules ,
Inflation Reduction Act (IRA) ,
Investment Tax Credits ,
IRS ,
Prevailing Wages ,
Production Tax Credit ,
Tax Credits ,
U.S. Treasury ,
Wage and Hour
On April 14, 2022, the US Internal Revenue Service (IRS) published a notice, which provides the inflation-adjustment factor and reference price for the calculation of renewable electricity production tax credits (PTCs) under...more
On December 31, 2020, the US Treasury Department and the Internal Revenue Service (the “IRS”) issued Notice 2021-05 (the “Notice”), which provides relief for offshore renewable energy projects and renewable projects...more
1/5/2021
/ Consolidated Appropriations Act (CAA) ,
Energy Projects ,
Energy Tax Incentives ,
Investment Tax Credits ,
IRS ,
Offshore Wind ,
Production Tax Credit ,
Renewable Energy ,
Renewable Energy Incentives ,
Safe Harbors ,
Solar Energy
On Monday, December 21, 2020, the United States Congress passed a second large stimulus bill (the “Relief Bill”) aimed at curtailing the economic disruptions caused by COVID-19. The Relief Bill, among other things, extends...more
On May 27, 2020, the US Internal Revenue Service (the “IRS”) released Notice 2020-41 (the “Notice”), updating the IRS guidance on the start-of-construction rules for the production tax credit (“PTC”) and energy investment tax...more
5/31/2020
/ Begun Construction Test ,
Energy Projects ,
Investment Tax Credits ,
IRS ,
Popular ,
Production Tax Credit ,
Qualified Energy Facilities ,
Renewable Energy ,
Safe Harbors ,
Solar Energy ,
Tax Credits ,
Wind Power
Background -
As the COVID-19 pandemic continues to disrupt project development timelines generally, solar and wind projects that rely on federal income tax credits to obtain financing are particularly sensitive to...more
5/7/2020
/ Coronavirus/COVID-19 ,
Energy Projects ,
Infrastructure ,
Investment Tax Credits ,
IRS ,
Popular ,
Production Tax Credit ,
Renewable Energy ,
Safe Harbors ,
Solar Energy ,
Tax Planning ,
Wind Power
On July 17, 2019, the US Internal Revenue Service (IRS) issued final regulations (T.D. 9872) providing guidance on the rules under Internal Revenue Code (IRC) section 50(d)(5) requiring an income inclusion by the lessee in...more
7/22/2019
/ Corporate Taxes ,
Income Taxes ,
Internal Revenue Code (IRC) ,
Investment Tax Credits ,
IRS ,
Leases ,
New Regulations ,
Pass-Through Entities ,
Public Comment ,
Real Estate Investments ,
Regulatory Requirements ,
Tax Credits ,
Tax Cuts and Jobs Act ,
Tax Planning
In a letter dated May 8, 2018, Senator Rand Paul (R-Ky.), in support of his state’s coal industry, urges the U.S. Department of Treasury (“Treasury”) to make significant changes to the existing “beginning of construction”...more
On June 22, 2018, the IRS released Notice 2018-59 (the “Guidance”). The Guidance provides rules to determine when construction begins with respect to investment tax credit (“ITC”) eligible property, such as solar projects. ...more
In a recently released private letter ruling, the IRS confirmed that residential solar energy batteries are eligible for the tax credit under Section 25D of the Code (the “Residential Solar Credit”), subject to an important...more
3/26/2018
/ Clean Energy ,
Electricity ,
Energy Sector ,
Energy Storage ,
Investment Tax Credits ,
IRS ,
Private Letter Rulings ,
Renewable Energy ,
Solar Energy ,
Tax Credits ,
Tax Planning ,
Utilities Sector