This week, after weeks of negotiations, Senators Manchin and Schumer reached a deal on an energy and healthcare bill titled the Inflation Reduction Act of 2022 (the “Act”). The Act includes extensive provisions relating to a...more
7/29/2022
/ Corporate Taxes ,
Energy Reform ,
Green Energy ,
Income Taxes ,
Infrastructure ,
Investment Tax Credits ,
Legislative Agendas ,
Production Tax Credit ,
Proposed Legislation ,
Regulatory Agenda ,
Solar Energy ,
Tax Incentives
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. ...more
1/7/2021
/ Carbon Capture and Sequestration ,
Clean Energy ,
Energy Projects ,
Energy Tax Incentives ,
Investment Tax Credits ,
Production Tax Credit ,
Renewable Energy ,
Renewable Energy Incentives ,
Solar Energy ,
Tax Credits ,
Wind Power
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 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