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Vinson & Elkins LLP

The Very Timely PWA Requirements Finalized

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On June 18, 2024, the Department of the Treasury (the “Treasury”) and the Internal Revenue Service (the “Service”) issued final regulations (T.D. 9998) (the “Final Regulations”) regarding compliance with the prevailing wage...more

BCLP

Industry update: PWA guidance

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The Inflation Reduction Act (the “IRA”), which was signed into law in August of 2022, has been top of mind for members of the renewable energy industry. This is because, among other things, the IRA significantly restructured...more

Bradley Arant Boult Cummings LLP

The clock is ticking on the IRA’s prevailing wage and apprenticeship requirements

Renewable energy developers and contractors have been anticipating the Treasury Department and IRS’s initial guidance on what is required to satisfy the prevailing wage and apprentice requirements under the Inflation...more

Gould + Ratner LLP

IRS Notice Provides Relief for Renewable Energy Construction Projects

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As we discussed in a previous article, the renewable energy industry is experiencing record growth. President Biden’s current initiatives are also expected to provide an additional boost to accelerate future growth in clean...more

Bracewell LLP

Bracewell Tax Report - October 2018

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The Bracewell Tax Report is a periodic publication focused on developments in federal income tax law, including the recently enacted Tax Cuts and Jobs Act, with emphasis on how such developments impact the energy, technology...more

Akin Gump Strauss Hauer & Feld LLP

The Quick (But Not Dirty) Issue No. 1: IRS Solar Construction Guidance

A Basic Guide to Renewable Energy Market and Energy Tax Basics - So What’s The Quick But Not Dirty? The IRS finally issued IRS Notice 2018-59 Beginning of Construction for the Investment Tax Credit under Section 48 on June...more

Akin Gump Strauss Hauer & Feld LLP

Solar Start of Constructive Guidance, a Comprehensive Analysis

New Internal Revenue Service (IRS) guidance on what it takes to start construction of a solar project raises practical questions, but it is very helpful in keeping the industry humming along. Solar projects that are under...more

Orrick, Herrington & Sutcliffe LLP

Boost For Solar Energy Developers From IRS Clarification Of "Beginning Construction" Tax Credit Rules

On June 22, the Internal Revenue Service ("IRS") issued Notice 2018-59 (the "Notice"), which provides guidance regarding qualification and construction timing for purposes of the investment tax credit ("ITC") provided by...more

Stinson LLP

Beginning Construction Guidance Issued for Solar Projects

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On June 22, the IRS issued Notice 2018-59 providing a beginning construction standard for solar projects similar to the standard previously set for wind projects. Solar developers now have a standard for reliance on what...more

Mayer Brown

Beginning of Construction Guidance for Solar and Other ITC Technologies

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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

Akin Gump Strauss Hauer & Feld LLP

Got ITCs? How to Start Construction on Your Solar Project (Pre-IRS Guidance)

Solar developers are getting antsy about what is needed to show that they started construction on their 2020 (or later) projects by the end of 2019. The answer is not clear in the absence of solar-specific guidance from...more

Perkins Coie

IRS Issues Fourth Production Tax Credit Guidance

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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

Eversheds Sutherland (US) LLP

Are You Continuing Construction? IRS Issues Fourth Renewable Energy Tax Credit Beginning of Construction Notice

On March 11, 2015, the Internal Revenue Service (IRS) issued Notice 2015-25, which provides further guidance to assist renewable energy facility developers and investors in evaluating whether such facilities satisfied the...more

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