4 Key Takeaways | Harnessing the Inflation Reduction Act: Driving Investments in Renewable Energy and Carbon Reduction
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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
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
What is “monetization”? Monetization is the process by which property is converted into money or something else of value. In the context of the Inflation Reduction Act of 2022 (IRA), certain provisions can allow entities that...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
Renewable energy project developers and contractors must be prepared to negotiate novel risks in a quickly changing global market. Technological innovations in renewable energy equipment and decreasing procurement and...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 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
The U.S. Department of the Treasury (Treasury) today released Notice 2024-41, Domestic Content Bonus Credit Amounts under the Inflation Reduction Act of 2022: Expansion of Applicable Projects for Safe Harbor in Notice 2023-38...more
Members of the K&L Gates Hydrogen, Power, Tax, and Tax Policy teams speak with Sandi Safro Osborn, Assistant General Counsel of the Edison Electric Institute, about the proposed regulations the Treasury Department and...more
We reviewed a variety of news stories discussing new solar projects in states – Kentucky, West Virginia, and Pennsylvania – that have traditionally relied heavily on coal and carbon-emitting fuels. The articles reveal lessons...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 U.S. Department of the Treasury (Treasury Department) recently released a notice of proposed rulemaking regarding four significant aspects of the investment tax credit (ITC) under Section 48 of the Internal Revenue Code...more
The second quarter of 2023 saw continued developments as a result of the enactment of the Inflation Reduction Act of 2022 (IRA), court activity and announcements from federal agencies. Below, we summarize the updates you need...more
The primary property tax abatement used by renewable energy projects in Ohio is the Qualified Energy Project (QEP). Originally passed in 2010 (128-SB-232), the QEP program enables qualifying projects to receive an abatement...more
On June 14, 2023, the Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) released two notices of proposed rulemaking regarding the direct payment of certain energy tax credits under Section 6417 of...more
The federal government offers two primary incentives for renewable energy projects: an investment tax credit for eligible investments in property, such as solar panels, and a production tax credit for electricity from...more
A reasonable analysis of the Buy America standards for manufactured products would have resulted in the qualified facility or energy project being treated as the end product. One would then check to see if the components of...more
The application process for the first round of funding for the Section 48C credit will open May 31, 2023. The IRS will issue additional guidance on the program before the application process opens but the application window...more
Pound-for-pound, Tribes have the potential to be among the United States’ most prolific clean energy developers. Tribal lands, which compose approximately 5.8% of the total land area in the contiguous United States, have the...more
On August 12, 2022, Congress passed the Inflation Reduction Act of 2022 (“Act” or “IRA”), a $400 billion legislative package containing significant tax and other government incentives for the energy industry, in particular...more
The Inflation Reduction Act of 2022 (IRA) will be a game changer for the energy industry. This guide focuses on those issues of particular significance to the energy industry; it is not intended to be comprehensive....more
After months of intense, and at times acrimonious, negotiations among the Democratic caucus, the United States Senate on August 7, 2022, passed the Inflation Reduction Act (IRA). The IRA includes a host of programs aimed at...more
The Inflation Reduction Act of 2022 proposes significant changes and expansions to the existing federal income tax benefits for renewable energy, fuel production, and other green technologies....more