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Energy Sector Tax Credits Wind Power

ASKramer Law

Energy Tax Credits for a New World Part IX: Overview of Changes to Traditional Tax Equity Financing

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Tax equity investments in 2023 were about $20 billion annually. To meet the goals of the Inflation Reduction Act (IRA), “many forecasters estimate that tax equity will need to increase […] to over $50 billion.”...more

ASKramer Law

Energy Tax Credits for a New World Part VII: Low-Income Communities Bonus Credits

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What is the Low-Income Communities Bonus Credit? The Low-Income Communities Bonus Credit available through the Inflation Reduction Act of 2022 (IRA) is designed to increase the siting of, and access to renewable energy...more

ASKramer Law

Energy Tax Credits For A New World Part III: Overview of Bonus Credits

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Why did the Inflation Reduction Act (IRA) reduce the base amounts of the energy tax credits? The IRA reduced base credit amounts from their pre-IRA levels to encourage energy projects to meet Congressional policy objectives....more

Bennett Jones LLP

Clean Tech ITC Decoded: Benefits and Strategies for Canadian Businesses

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In the inaugural episode of Clean Incentives, hosts Brendan Sigalet and Derrick Osborne, alongside special guests Ashley White and Jason Roth, delve into the myriad of tax incentives available for businesses in Canada, with a...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

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

Allen Matkins

Renewable Energy Update 3.21.24

Allen Matkins on

The first commercial-scale offshore wind farm in the United States is officially open, a long-awaited moment that helps pave the way for a succession of large wind farms. Danish wind energy developer Ørsted and the utility...more

Foley Hoag LLP - Energy & Climate Counsel

DPU Issues Long-Anticipated Net Metering Ruling

On February 15, 2024, the Massachusetts Department of Public Utilities (“DPU”) issued a much-anticipated order in docket D.P.U. 21-100 that finally promulgates regulations (220 CMR 18.00) to implement 2021 statutory changes...more

A&O Shearman

Inflation Reduction Act: New Guidance on Section 45X Manufacturing Tax Credits

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On December 14, 2023, the Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) released proposed regulation [REG-107423-23] to provide guidance on the manufacturing tax credit requirements under...more

Holland & Knight LLP

An In-Depth Look at Section 45X Proposed Regulations

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The U.S. Department of the Treasury and IRS on Dec. 14, 2023, released Proposed Regulations regarding the Section 45X Advanced Manufacturing Production Credit of the Internal Revenue Code. (See Holland& Knight's previous...more

Morgan Lewis

Treasury and IRS Publish Long-Awaited Guidance on Renewable Energy Investment Tax Credit

Morgan Lewis on

The US Internal Revenue Service (IRS) and US Department of the Treasury (Treasury) released proposed regulations on November 17, 2023 addressing the investment tax credit (ITC) for renewable energy and energy storage...more

McGuireWoods LLP

30-Day Initial Application Window for Low-Income Communities Bonus Credit Fast Approaching

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On Oct. 19, 2023, the Department of Energy began accepting applications for all categories of the Low-Income Communities Bonus Credit Program for small-scale wind and solar projects....more

Blake, Cassels & Graydon LLP

Le Canada propose des modifications aux incitatifs fiscaux pour l’énergie verte

Le 4 août 2023, le ministère des Finances du Canada (le « ministère des Finances ») a publié des propositions législatives ainsi que des notes explicatives (les « propositions législatives d’août ») à l’égard de divers...more

Blake, Cassels & Graydon LLP

Canada Proposes Updates to Green-Energy Tax Incentives

On August 4, 2023, the Department of Finance Canada (Finance) released draft legislation and explanatory notes (August Legislation) in respect of various green-energy tax incentives. The August Legislation includes draft...more

DarrowEverett LLP

What IRS’s Low-Income Adder Guidance Means For Renewables Projects

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The Inflation Reduction Act of 2022 (the “Act”) breathed new life into the tax scheme for renewable energy projects, creating a new base tax credit with a series of adders that can significantly increase viability of projects...more

Bracewell LLP

Treasury Department and IRS Issue Additional Guidance on the New Low-Income Communities Bonus Credit Program

Bracewell LLP on

The low-income communities bonus credit (the LIC Bonus), which was introduced by the Inflation Reduction Act of 2022 (the IRA), provides an enhanced tax credit for certain wind and solar facilities located in designated...more

Wilson Sonsini Goodrich & Rosati

IRS Releases New Proposed Rules for the Low-Income Communities Bonus Credit for the Investment Tax Credit

On May 31, 2023, the Department of Treasury (Treasury) and Internal Revenue Service (IRS) released proposed rules that set forth application and eligibility criteria for the low-income communities bonus credit investment...more

Stoel Rives LLP

Treasury Issues Proposed Rules Regarding Low-Income Communities Solar and Wind Increased Credit

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The U.S. Department of the Treasury (Treasury) earlier this week issued a notice of proposed rulemaking regarding the up to 20 percentage point additional investment tax credit (ITC) for certain solar and wind facilities...more

Troutman Pepper

Taking Charge: Inside the U.S. Battery Boom

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The Inflation Reduction Act (IRA) has supercharged global interest in U.S. battery storage, forcing companies to change their approach to the market. We look at how this generational legislation is driving growth and...more

Troutman Pepper

Tax Issues for Co-location of Energy Storage with Solar or Wind

Troutman Pepper on

The Inflation Reduction Act (IRA) changed the game when it comes to battery storage and its qualifications for investment tax credits (ITC). Partners Christine Byrnes and Anne Loomis discuss the eligibility of energy storage...more

Holland & Knight LLP

Break Out Your Calculator: IRS Releases Domestic Content Bonus Credit Guidance

Holland & Knight LLP on

Following the release of energy community bonus credit and low-income community bonus credit guidance, the U.S. Department of the Treasury and IRS recently provided taxpayers with the domestic content bonus credit guidance....more

Blake, Cassels & Graydon LLP

Budget fédéral 2023 : Incitatifs fiscaux pour l’énergie verte

Au cours des dernières années, le ministère des Finances du Canada (le « ministère des Finances ») a proposé un ensemble d’incitatifs fiscaux en matière d’énergie verte visant à encourager aussi bien le développement de...more

Blake, Cassels & Graydon LLP

2023 Federal Budget: Green-Energy Tax Incentives

Over the past few years, the Department of Finance Canada (Finance) has proposed a cluster of green-energy tax incentives aimed at encouraging both the development of Canada’s green economy and the reduction of Canada’s...more

Foley & Lardner LLP

IRA Tax Credits Benefit Energy and Manufacturing

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The passage of the Inflation Reduction Act (IRA) in August of last year saw the introduction of a number of new and expanded tax credits aimed at boosting onshore American manufacturing. These incentives represent...more

McGuireWoods LLP

IRS Issues Guidance for Energy Tax Credits in Low-Income Communities – Notice 2023-17

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The Inflation Reduction Act of 2022 (IRA) created several new tax incentives to encourage developing clean energy projects that would benefit underserved communities and individuals. Among these incentives, Congress included...more

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