The Internal Revenue Service (IRS) issued new guidance regarding Section 45Q tax credits (Revenue Ruling 2021-13). The IRS guidance addresses the application of Section 45Q of the Internal Revenue Code of 1986 and the capture...more
When the Bipartisan Budget Act of 2018 was passed into law, it expanded the §45Q2 tax credit, an important federal incentive encouraging private investment in the development and use of carbon capture technologies and...more
The Washington Legislature passed Senate Bill 5126, the Climate Commitment Act, on April 24, 2021, which establishes a greenhouse gas emissions cap-and-invest program for utilities, industrial facilities, and other operations...more
4/29/2021
/ Cap-and-Trade ,
Carbon Off-Set Credits ,
Clean Air Act ,
Compliance ,
Covered Entities ,
Department of Ecology ,
Greenhouse Gas Emissions ,
Net Zero ,
Opt-In ,
State and Local Government ,
State Legislatures
The Washington Legislature passed House Bill 1091, which directs the Washington State Department of Ecology (Ecology) to adopt rules establishing a Clean Fuels Program to limit the aggregate, overall greenhouse gas emissions...more
The U.S. Department of the Treasury and the Internal Revenue Service on January 6, 2021, issued Treasury Decision 9944, providing final regulations relating to Section 45Q tax credits (Regulations). The Regulations provide...more
The IRS recently issued Notice 2016-31, providing further guidance regarding the “beginning of construction” requirement for the production tax credit (PTC) under Section 45 of the Internal Revenue Code and the investment tax...more
5/16/2016
/ Biomass ,
Energy Projects ,
Energy Sector ,
Geothermal Energy ,
Hydropower ,
Investment Tax Credits ,
IRS ,
Production Tax Credit ,
Protecting Americans from Tax Hikes (PATH) Act ,
Qualified Energy Facilities ,
Renewable Energy ,
Renewable Energy Incentives ,
Safe Harbors ,
Solar Energy ,
Wind Power
The senior-most U.S. Supreme Court Justice, Antonin Scalia, passed away on February 13, 2016 just days after the Supreme Court, by a slim 5 to 4 majority, stayed the EPA’s enforcement of the Clean Power Plan. Among other...more
On Tuesday, February 9, 2016, only a few weeks after the U.S. Court of Appeals for the District of Columbia Circuit denied a multistate plea to stop the U.S. EPA’s Clean Power Plan, the United States Supreme Court issued a...more
The renewable energy industry, particularly the wind and solar energy sectors, have been hopeful that the U.S. Congress would act this year to extend certain tax credits that project developers and related sectors, such as...more
On September 4, 2015, the Internal Revenue Service released a private letter ruling that could have meaningful impacts on the funding and development of certain residential solar developments, specifically community solar...more
The Internal Revenue Service recently issued the expected Notice 2015-25, which supplements its earlier notices on the same subject and provides additional guidance to renewable energy facility developers and investors when...more