News & Analysis as of

Clean Energy Energy Sector Internal Revenue Service

ASKramer Law

Energy Tax Credits for a New World Part VI: Energy Community Bonus Credits

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What is the purpose of the Energy Community Bonus Credit? The Inflation Reduction Act (IRA) introduced the Energy Community Bonus Credit to encourage renewable energy project developers to locate their facilities and energy...more

ASKramer Law

Energy Tax Credits For A New World Part V: Domestic Content Bonus Credits

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What is the purpose of the Domestic Content Bonus Credit? The Inflation Reduction Act (IRA) introduced the Domestic Content Bonus Credit to provide an additional credit amount to taxpayers that meet its requirements. The...more

ASKramer Law

Energy Tax Credits for a New World Part II: Production Tax Credits and Investment Tax Credits: The Old and the New

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What is a Production Tax Credit (PTC)? A Production Tax Credit (PTC) is a per kilowatt-hour (kWh) tax credit for electricity generated by solar and other qualifying clean technologies for the first 10 years of a system’s...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Clean Energy Tax Credits for Tax Year 2023: Internal Revenue Service Issues Statistical Chart

The Internal Revenue Service (“IRS”) issued an August 7th news release providing statistics on the Inflation Reduction Act (“IRA”) clean energy tax credits for the tax year 2023. The news release says that tax payers have...more

Wilson Sonsini Goodrich & Rosati

Claiming Tech-Neutral Clean Electricity Production and Investment Tax Credits Under the Inflation Reduction Act

On May 29, 2024, the U.S. Department of the Treasury and the Internal Revenue Service released long anticipated Proposed Regulations regarding clean electricity production tax credits and clean electricity investment tax...more

Faegre Drinker Biddle & Reath LLP

IRS Announces Final Regulations Implementing Prevailing Wage and Apprenticeship Requirements for Clean Energy Projects Under the...

On June 18, 2024, the U.S. Treasury Department and the Internal Revenue Service (IRS) published final regulations implementing the prevailing wage and apprenticeship requirements for clean energy tax credits for construction...more

Holland & Knight LLP

The Technology-Neutral Sections 45Y PTC and 48E ITC Are Coming

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The U.S. Department of the Treasury and IRS on May 29, 2024, issued proposed regulations under the new Internal Revenue Code (Code) Section 45Y Clean Electricity Production Tax Credit (PTC) and Section 48E Clean Electricity...more

Mintz - Energy & Sustainability Viewpoints

Energy & Sustainability Washington Update — July 2024

Final Rules for Prevailing Wage & Registered Apprenticeships at Clean Energy Projects - The Department of the Treasury and Internal Revenue Service (IRS) recently announced final rules implementing the prevailing wage and...more

BakerHostetler

Proposed Regulations - Clean Electricity Production and Investment Credits (45Y and 48E)

BakerHostetler on

The IRS and Treasury on June 3 issued proposed regulations under Sections 45Y and 48E (proposed regulations), which address clean electricity production and investment tax credits, respectively, that generally replace...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Transferability of Energy Credits under the Inflation Reduction Act: What do you need to know?

Now that final regulations on the transferability of energy tax credits under the Inflation Reduction Act have been issued by the U.S. Department of Treasury (Treasury) and the Internal Revenue Service (IRS), many investors...more

Mintz - Energy & Sustainability Viewpoints

Energy & Sustainability Washington Update — June 2024

“Home Energy Rebates” program, which made available $8.8 billion in funds to help reduce US households’ energy bills. Separated into two rebate programs – the HOMES Rebate Program and the HEEHRA Rebate Program – Home Energy...more

Mintz - ML Strategies

Businesses to Get Boost from $8.8B Home Energy Rebates Program — Home Energy Rebates Demystified (Part 1)

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For firms in the United States, the Inflation Reduction Act (IRA) has released a flood of funding for clean energy demonstration and deployment. Tens of billions of dollars in the form of direct grants and loans have been...more

Womble Bond Dickinson

IRS Publishes Final Regulations for Transfer of Certain Credits

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The Inflation Reduction Act of 2022 added Section 6418 to the Internal Revenue Code (the “Code”) to allow taxpayers to sell certain Federal income tax credits....more

Pillsbury Winthrop Shaw Pittman LLP

Treasury Department Announces Process and Timetable to Allocate $6 Billion in Qualifying Advanced Energy Project Credits

The application cycle for Treasury to award this round of credits will soon open, providing applicants an opportunity to receive significant funding for clean energy, industrial decarbonization and critical materials...more

Wilson Sonsini Goodrich & Rosati

DOE and IRS Set to Open Second and Potentially Final Round of Section 48C Qualifying Advanced Energy Project Credit Applications

On April 29, 2024, pursuant to Notice 2024-36, the Department of Energy (DOE) and Internal Revenue Service (IRS) announced that they plan to open the second, and potentially final, round of Section 48C(e) Qualifying Advanced...more

Cadwalader, Wickersham & Taft LLP

Tax Insurance May Boost the Market for Energy Tax Credits

The Inflation Reduction Act of 2022 (the “IRA”) now allows firms to develop and sell clean energy tax credits.  In our last update, available here, we discussed the latest developments on the “direct pay” rules, the clean...more

Clark Hill PLC

[Webinar] Preparing for Clean Energy Tax Credit Transfer Transactions - May 1st, 12:00 pm - 1:00 pm EDT

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Project developers in the EV, solar, wind, battery, CCUS, hydrogen, biofuels, and energy efficiency markets have been blessed by the IRS with the ability to transfer tax credits directly to willing buyers. Tax equity...more

Husch Blackwell LLP

Green Hydrogen Tax Credit: 45V Answers Expected Soon

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The future of the green hydrogen industry in the United States will become a bit clearer in the coming weeks. Comments on the proposed hydrogen tax credits in 26 USC 45V were due by February 26, 2024, and will be discussed at...more

Foster Garvey PC

Unlocking Clean Energy Investments: New Elective Payment Credits for State and Local Governments

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State and local governments undertaking clean energy projects may be eligible for cash payments equal to the renewable electricity production tax credit or energy investment tax credit that would have been available to a...more

Bricker Graydon LLP

[Webinar] Clean Energy Tax Incentives for the Private Sector - January 25th, 10:00 am - 11:00 am ET

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Join Bricker Graydon attorneys for a FREE webinar to discover tax incentives under the Inflation Reduction Act that may be available to you in 2024 and beyond....more

Holland & Knight LLP

Breaking Down the Section 45V Clean Hydrogen PTC Proposed Regulations

Holland & Knight LLP on

The U.S. Department of the Treasury and the IRS on Dec. 22, 2023, released proposed regulations regarding the production tax credit (PTC) for hydrogen under Section 45V of the Internal Revenue Code, as enacted by the...more

McDermott Will & Emery

IRS Leans “Green”: Much-Awaited Section 45V Guidance Creates New Opportunities for Hydrogen Markets

On December 22, 2023, the Internal Revenue Service (IRS) published long-awaited proposed regulations for hydrogen tax credits under Internal Revenue Code (Code) Sections 45V and 48. The proposed regulations address many...more

McDermott Will & Emery

[Webinar] Navigating the IRS’s Clean Hydrogen Tax Credit Guidelines - January 9th, 1:00 pm - 1:30 pm EST

Join Partners Heather Cooper and Christopher Gladbach next Tuesday for an insightful discussion on the nuances of the Internal Revenue Services’ (IRS) recent guidance on the clean hydrogen tax credit. They’ll shed light on...more

Mintz - Energy & Sustainability Viewpoints

Energy & Sustainability Legal Feature – Increased Opportunity for More Taxpayers to Access Clean Energy Tax Credits and Related...

This past summer, the Treasury and Internal Revenue Service (IRS) published proposed Treasury Regulations (88 FR 40528 and 88 FR 40496) under two key provisions of the Inflation Reduction Act of 2022 (IRA) designed to enable...more

Eversheds Sutherland (US) LLP

Key proposed regulations issued regarding prevailing wage and registered apprenticeship requirements

On August 29, 2023, the Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) issued proposed regulations (Proposed Regulations) on the clean energy prevailing wage and apprenticeship (PWA) requirements...more

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