The State of Energy Storage: What You Need to Know
The Treasury finalized regulations for the Clean Vehicle Credit under I.R.C. Section 30D. These regulations are effective July 5, 2024. The Section 30D credit, up to $7,500, applies to new electric or fuel cell vehicles...more
The Department of Treasury, the Internal Revenue Service, and the Department of Energy finalized guidance on the requirements for new and used clean vehicles to be eligible for federal tax credits....more
Newly issued final EV tax credit rules largely stick to proposed rules with some flexibility on graphite through end of ’26, clarifications on FEOC definitions that could be significant. On May 3, 2024 the Department of the...more
This update helps automotive suppliers inform their legal and operational decisions to help address challenges and opportunities. Key Developments - Recent pricing disputes with suppliers have resulted in production...more
Proposed regulations clarify FEOC restrictions and clean vehicle tax credit compliance for manufacturers aiming to produce eligible EVs. As countries around the world accelerate the transition to clean energy, the race to...more
On December 4, 2023, the Department of Energy (DOE), Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) published related proposed guidance on the eligibility of an electric vehicle for the section...more
New proposed Treasury and Department of Energy ("DOE") guidance, issued on December 1, 2023, offers clarity on which vehicles will be disqualified from the Clean Vehicle Tax Credit due to the inclusion of minerals or...more
On December 4, 2023, the U.S. Department of the Treasury and Internal Revenue Service (IRS) published long-awaited proposed regulations (Notice of Proposed Rulemaking) regarding the Foreign Entity of Concern (FEOC) exclusions...more
On December 1, the U.S. Department of Energy (DOE) released long-awaited proposed guidance defining “foreign entity of concern” (FEOC) under the Infrastructure Investment and Jobs Act (IIJA). Simultaneously, the U.S....more
Increasing electric vehicle adoption has been a priority for the Biden administration. Early in his presidency, President Joe Biden set a goal of 50% of new vehicle sales be electric by 2030. The American Jobs Plan did not...more