News & Analysis as of

Tax Credits Renewable Energy Incentives Inflation Reduction Act (IRA)

Cadwalader, Wickersham & Taft LLP

Charging Ahead or Stalling Out? Clean Energy Credits Await Key Guidance

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

Baker Botts L.L.P.

Proposed Regulations Regarding Section 48E Clean Electricity Low-Income Communities Bonus Credit Program

Baker Botts L.L.P. on

On September 3, 2024, the Internal Revenue Service (“IRS”) and the Department of the Treasury (“Treasury”) published proposed regulations relating to the Clean Electricity Low-Income Communities Bonus Credit Program (the...more

Vinson & Elkins LLP

Treasury Releases Proposed Regulations on Tech-Neutral PTC and ITC

Vinson & Elkins LLP on

On May 29, 2024, the Treasury Department (the “Treasury”) and the Internal Revenue Service (the “Service”) issued proposed regulations (REG-119283-23) (the “proposed regulations”) regarding the clean electricity production...more

Orrick, Herrington & Sutcliffe LLP

The Domestic Content Bonus Credit for Renewable Energy Projects: IRS Updates ‘DC Adder’ and Adds Elective Safe Harbor Guidance

The U.S. Department of the Treasury (“Treasury”) and the Internal Revenue Service (“IRS”) have modified a framework relating to renewable energy projects that qualify for the domestic content bonus tax credit (the “DC Adder”)...more

Stoel Rives LLP

Treasury Provides New Safe Harbor for Domestic Content Bonus Credit

Stoel Rives LLP on

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

Cadwalader, Wickersham & Taft LLP

Green Means Go for Energy Tax Credit Sales

The Inflation Reduction Act of 2022 (the “IRA”) now allows firms to develop and sell clean energy tax credits.  Sales are officially underway....more

Hinckley Allen

IRS Activates Registration Portal for Energy Investment Subsidies Available to Tax-Exempt Entities

Hinckley Allen on

On December 22, 2023, the IRS activated an online portal (the “Registration Portal”) where users can register clean energy projects and investments, which can then be used to claim energy tax credits which are directly...more

K&L Gates LLP

Tax Credit Revolution: US Treasury and IRS Propose Section 45V Hydrogen Production Tax Credit Regulations

K&L Gates LLP on

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

Cadwalader, Wickersham & Taft LLP

Treasury Gearing Up for Energy Tax Credit Transfers

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

StoneTurn

There’s Still Time to Maximize Inflation Reduction Act Incentives

StoneTurn on

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

Jones Day

Proposed IRS Regulations on Tax Credits for Renewable-Energy Investments Include Wage and Apprenticeship Requirements

Jones Day on

In Short - The Background: The Inflation Reduction Act provides for robust tax incentives on qualifying renewable-energy construction projects. In order to claim the full amount of such tax credits on qualifying projects,...more

Balch & Bingham LLP

Balch Energy Attorneys Discuss The Future Of Renewable Energy Projects During Association Of Corporate Counsel Houston Panel

Balch & Bingham LLP on

Balch partners Audrey Momanaee, Chris Still and Jesse Unkenholz discussed key considerations and legal issues associated with the development of renewable energy and storage projects at the Association of Corporate Counsel...more

Katten Muchin Rosenman LLP

Transferability of Renewable Energy Tax Credits Under the Inflation Reduction Act of 2022: What Are We Waiting For?

The Inflation Reduction Act of 2022 provides for the transferability of certain renewable energy tax credits, including the investment tax credit (ITC). As preliminary additional guidance was just recently released by the...more

Latham & Watkins LLP

IRS Proposed Rules Explain How Taxpayers Can Buy and Sell Renewable Energy Tax Credits or Receive Cash Refunds

Latham & Watkins LLP on

The proposed rules for monetizing tax credits should catalyze energy transition markets and offer an alternative to tax equity transactions. On June 14, 2023, the IRS issued proposed rules for how it intends to administer...more

Nelson Mullins Riley & Scarborough LLP

Treasury and IRS Release Guidance on Advanced Energy Project Credits, Direct Payment, and Transferability of Investment Tax...

The Treasury Department and Internal Revenue Service (IRS) have released Notice 2023-44 and proposed regulations to provide long-anticipated guidance on the application procedures for the Section 48C(e) credit and for the...more

Stoel Rives LLP

Treasury Issues Proposed Regulations Related to Renewable Energy Tax Credit Monetization Elections

Stoel Rives LLP on

The U.S. Department of the Treasury (Treasury) earlier this week issued two notices of proposed rulemaking (the Proposed Regulations) related to the election to transfer certain tax credits (the Tax Credit Transfer Election)...more

Faegre Drinker Biddle & Reath LLP

New Rules for Clean Energy Tax Credits

The IRS and Department of Treasury released the long-anticipated Notice of Proposed Rulemaking (NPRM) for ways to monetize tax credits included in the administration’s Inflation Reduction Act (IRA). The proposed rules, which...more

Blank Rome LLP

Renewable Energy Tax Credits under the Inflation Reduction Act: Opportunities for Exempt Organizations

Blank Rome LLP on

The Inflation Reduction Act of 2022 (the “IRA” or “Act”) added and modified several renewable energy tax provisions under the Internal Revenue Code of 1986, as amended (the “IRC”).[1] These changes provide many opportunities...more

Hogan Lovells

The Inflation Reduction Act’s new guidance on the low-income communities bonus credit program

Hogan Lovells on

Under the Inflation Reduction Act (“IRA”), the investment tax credit (“ITC”) may be increased if the applicable energy property qualifies for certain bonus levels, including an increased ITC energy percentage of up to 10% or...more

Bricker Graydon LLP

Inflation Reduction Act: Federal Incentives for Public Entities for Clean Energy Improvements

Bricker Graydon LLP on

By now, you are likely aware that the federal government is making the largest investment in climate and energy improvements in American history, known as the Inflation Reduction Act (IRA). The IRA allocates funding to...more

Stoel Rives LLP

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

Stoel Rives LLP on

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

Baker Donelson

DOE Clarifies Priority Projects and Selection Criteria in New Guidance for the 48C(e) Advanced Energy Project Credit

Baker Donelson on

As an update to our prior alert on this subject the Treasury Department recently released new guidance, which critically outlines the Department of Energy's (DOE) priorities and technical review criteria for the 48C(e)...more

McGuireWoods LLP

Domestic Content 10% Bonus Guidance Released (IRS Notice 2023-38)

McGuireWoods LLP on

The Inflation Reduction Act of 2022 (IRA) created a 10% tax credit adder to encourage the use of “domestic content” in renewable projects that qualify for the production tax credit (PTC) and investment tax credit (ITC)....more

Womble Bond Dickinson

How Manufacturers Can Take Advantage of the Inflation Reduction Act

Womble Bond Dickinson on

The Inflation Reduction Act (the “IRA”) is a wide-ranging bill that includes, among other things, significant investments and reforms by the federal government in a variety of different sectors, including manufacturing,...more

BakerHostetler

Risks Associated with the Purchase of Renewable Energy Credits - Part II

BakerHostetler on

As covered in our prior alert, the Inflation Reduction Act[2] (IRA) modified and reinstated existing renewable energy credits and enacted new renewable energy credits. The IRA also enacted two novel alternatives to tax equity...more

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