4 Key Takeaways | Harnessing the Inflation Reduction Act: Driving Investments in Renewable Energy and Carbon Reduction
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On December 4, 2024, the Department of the Treasury finalized new rules governing the Section 48 Investment Tax Credit (“ITC”). The ITC applies to a broad range of clean energy projects, including biogas projects, which were...more
The U.S. Department of the Treasury and the Internal Revenue Service have issued final regulations allowing tax-exempt entities that are partners in clean energy projects to elect to receive energy tax credits in cash....more
The Inflation Reduction Act of 2022 (IRA) was one of the most significant legislative victories of the Biden administration, fostering tens of billions (USD) in planned clean energy investments, much of this yet to be...more
The Inflation Reduction Act of 2022 (the “IRA”) allows firms to develop and sell clean energy tax credits. In our last update, available here, we discussed the release of the long-awaited guidance package on the new...more
Changes to the tax code have made it easier to monetize renewable energy tax credits, attracting interest from emerging growth companies looking to bolster their balance sheets amid the slowdown in venture capital funding....more
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
The Brazilian Federal Government has enacted and published Law No. 14.990/2024, which establishes the Low-Carbon Hydrogen Development Program (PHBC), in line with similar international policies such as the US Inflation...more
The Inflation Reduction Act of 2022 (the “IRA”) allows firms to develop and sell clean energy tax credits. In our last update, we discussed the uncertain future of energy tax credit sales as we head into the election....more
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
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
Signed into law on August 16, 2022, the Inflation Reduction Act (IRA) is the most significant long-term commitment made by the U.S. government to encourage and support a clean energy future. The IRA modifies and revises the...more
The Inflation Reduction Act of 2022 (the “IRA”) now allows firms to develop and sell clean energy tax credits. ...more
The Australian Government has recently announced proposed measures to support the production of hydrogen in Australia utilising renewable energy. These include a new hydrogen production tax incentive and are estimated to...more
On May 16, 2024, the Department of the Treasury and the IRS announced the release of Notice 2024-41, which clarifies the safe harbor for classification of project components created in Notice 2023-38 and provides a new safe...more
On April 25, 2024, the US Department of the Treasury (“Treasury”) and the Internal Revenue Service (“IRS”) issued final regulations (T.D. 9993) (the “final regulations under section 6418”) concerning the election to transfer...more
On April 25, 2024, the U.S. Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) issued final regulations (the Final Regulations) regarding the election to transfer energy tax credits under Section...more
The following is a primary on some of the key IRA incentives that hospitals should explore before undertaking any clean energy or energy efficiency projects....more
The Inflation Reduction Act of 2022 (the “IRA”) now allows firms to develop and sell clean energy tax credits. Sales are officially underway....more
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
The IRS and the Treasury Department issued proposed regulations on December 26, 2023 (Proposed Regulations), providing guidance on the clean hydrogen production tax credit under Section 45V (Hydrogen PTC) and the investment...more
Among other things, the proposed regulations would: Below is a more detailed summary of the key provisions in the proposed regulations as well as our initial observations. The IRS will collect comments until January 22, 2024,...more
The Inflation Reduction Act of 2022 (the “IRA”) now allows firms to develop and sell clean energy tax credits. The IRA also increased the amount of existing energy tax credits that are now eligible for sale, such as the...more
It has been just over a year since the Inflation Reduction Act (“IRA” or “The Act”) was passed. This monumental piece of legislation for the clean energy industry provides hundreds of billions of dollars to build a clean...more
Ten months after the release of initial guidance, the U.S. Department of the Treasury and IRS on Aug. 29, 2023, issued proposed regulations regarding increased credit or deduction amounts available for taxpayers satisfying...more