When Treasury promulgated Treasury Decision 9784, I.R.B 2016-39 nearly a decade ago, the net metering renewable energy safe harbor (Section XI “Renewable Energy”, Subsection A) was welcome guidance that was fit for the time and the technology. But given the advances in renewable energy technology and today’s commercial realities, Treasury and IRS should now issue additional guidance that fully enables REITs to deploy renewable energy infrastructure in commercially sensible ways.
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