News & Analysis as of

Inflation Reduction Act (IRA) Comprehensive Environmental Response, Compensation and Liability Act Energy Sector

Foley Hoag LLP - Environmental Law

How Brown is Brown Enough? An Update on the IRA ITC Adder for Brownfield Sites

It is now almost 18 months since Congress enacted the Inflation Reduction Act. One of the IRA’s provisions was an adder to the ITC for renewable energy projects located in an “energy community”. One way to be in an energy...more

BCLP

IRS guidance on energy community PTC and ITC bonus credits provides some needed clarity

BCLP on

On April 4, 2023, the IRS and the Treasury issued Notice 2023-29 (the “Notice”) announcing an intention to propose regulations, and providing interim guidance, with respect to the requirements that taxpayers must satisfy in...more

Bricker Graydon LLP

What is an “Energy Community” - IRS Provides Guidance on Key Aspect of the Inflation Reduction Act

Bricker Graydon LLP on

The Inflation Reduction Act (IRA) has been called the most aggressive climate investment ever undertaken by the U.S. Congress. With approximately $370 billion dollars in funding over the next 10 years, it is projected that...more

Akin Gump Strauss Hauer & Feld LLP

Treasury Updates Guidance Issued Last Week on 'Energy Community' Tax Credit Adders

Summary - On April 4, 2023, the Department of the Treasury and the Internal Revenue Service (IRS) released guidance on the “energy community” tax credit adders (EC Adders) that were added under the Inflation Reduction Act...more

Eversheds Sutherland (US) LLP

IRS releases Notice 2023-29 on energy community rules

On April 4, 2023, the Treasury Department (Treasury) and the Internal Revenue Service (IRS) issued Notice 2023-29(the Notice) to provide additional guidance on energy community bonus tax credits under IRC sections 45, 45Y,...more

Orrick, Herrington & Sutcliffe LLP

IRA: Energy Communities and Brownfields Tax Guidance: What Companies Need To Know

Initial guidance for the bonus credit amount for renewable energy projects located in “energy communities” answers numerous questions about how to prove a project qualifies for extra tax credits. The guidance—which is in...more

ArentFox Schiff

Ten Environmental and Energy Issues to Watch in 2023

ArentFox Schiff on

What will happen in the environmental and energy space in 2023? The last year saw transformative changes in the environmental and energy space in the form of historic spending through the federal Inflation Reduction Act, a...more

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