News & Analysis as of

U.S. Treasury Energy Sector Clean Energy

Foley Hoag LLP - Energy & Climate Counsel

Hydrogen Tax Credit Guidance to Be Finalized by Year’s End; Department of Energy Opens Emissions Value Request Process for Clean...

After months of waiting to see how federal regulators might advance clean hydrogen tax policy in the runup to and following the November election, we are finally getting some news: Several outlets are reporting that the...more

Wilson Sonsini Goodrich & Rosati

Claiming Tech-Neutral Clean Electricity Production and Investment Tax Credits Under the Inflation Reduction Act

On May 29, 2024, the U.S. Department of the Treasury and the Internal Revenue Service released long anticipated Proposed Regulations regarding clean electricity production tax credits and clean electricity investment tax...more

Holland & Knight LLP

The Technology-Neutral Sections 45Y PTC and 48E ITC Are Coming

Holland & Knight LLP on

The U.S. Department of the Treasury and IRS on May 29, 2024, issued proposed regulations under the new Internal Revenue Code (Code) Section 45Y Clean Electricity Production Tax Credit (PTC) and Section 48E Clean Electricity...more

Mintz - Energy & Sustainability Viewpoints

Energy & Sustainability Washington Update — July 2024

Final Rules for Prevailing Wage & Registered Apprenticeships at Clean Energy Projects - The Department of the Treasury and Internal Revenue Service (IRS) recently announced final rules implementing the prevailing wage and...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Transferability of Energy Credits under the Inflation Reduction Act: What do you need to know?

Now that final regulations on the transferability of energy tax credits under the Inflation Reduction Act have been issued by the U.S. Department of Treasury (Treasury) and the Internal Revenue Service (IRS), many investors...more

Mintz - Energy & Sustainability Viewpoints

Energy & Sustainability Washington Update — June 2024

“Home Energy Rebates” program, which made available $8.8 billion in funds to help reduce US households’ energy bills. Separated into two rebate programs – the HOMES Rebate Program and the HEEHRA Rebate Program – Home Energy...more

Womble Bond Dickinson

IRS Publishes Final Regulations for Transfer of Certain Credits

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The Inflation Reduction Act of 2022 added Section 6418 to the Internal Revenue Code (the “Code”) to allow taxpayers to sell certain Federal income tax credits....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

Mintz - Tax Viewpoints

Treasury Department Issues Guidance on Round Two of §48C Advanced Energy Tax Credit Program

The highly anticipated guidance for the second round of allocations (Round Two) under the US Treasury’s §48C Qualifying Advanced Energy Project Tax Credit program was released this week pursuant to IRS Notice 2024-36, with...more

Husch Blackwell LLP

Green Hydrogen Tax Credit: 45V Answers Expected Soon

Husch Blackwell LLP on

The future of the green hydrogen industry in the United States will become a bit clearer in the coming weeks. Comments on the proposed hydrogen tax credits in 26 USC 45V were due by February 26, 2024, and will be discussed at...more

Mintz - Energy & Sustainability Viewpoints

Energy & Sustainability Washington Update - February 2024

Congress returned for the second half of the 118th Congress in January with an immediate agenda focused on avoiding a government shutdown, a priority that has been punted several times through continuing resolutions, and...more

Allen Matkins

Renewable Energy Update 1.16.24

Allen Matkins on

U.S. battery storage capacity is poised for a record year in 2024 with Texas and California continuing to lead the country in new additions, after installations reached a new record last quarter....more

Holland & Knight LLP

Breaking Down the Section 45V Clean Hydrogen PTC Proposed Regulations

Holland & Knight LLP on

The U.S. Department of the Treasury and the IRS on Dec. 22, 2023, released proposed regulations regarding the production tax credit (PTC) for hydrogen under Section 45V of the Internal Revenue Code, as enacted by the...more

Mintz - Energy & Sustainability Viewpoints

Energy & Sustainability Legal Feature – Increased Opportunity for More Taxpayers to Access Clean Energy Tax Credits and Related...

This past summer, the Treasury and Internal Revenue Service (IRS) published proposed Treasury Regulations (88 FR 40528 and 88 FR 40496) under two key provisions of the Inflation Reduction Act of 2022 (IRA) designed to enable...more

Farella Braun + Martel LLP

[Event] Unlocking Clean Hydrogen: What Should Treasury’s Guidance Be for Hydrogen Production Tax Credit Eligibility? - October...

The Inflation Reduction Act (IRA), passed just over a year ago, contains a clean hydrogen production tax credit of up to $3/kg. However, guidance from the Treasury as to what qualifies for the clean hydrogen tax credit...more

Eversheds Sutherland (US) LLP

Key proposed regulations issued regarding prevailing wage and registered apprenticeship requirements

On August 29, 2023, the Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) issued proposed regulations (Proposed Regulations) on the clean energy prevailing wage and apprenticeship (PWA) requirements...more

Vinson & Elkins LLP

Full Speed Ahead: The Inflation Reduction Act at One Year

Vinson & Elkins LLP on

It’s the largest climate legislation in US history, with many complex provisions. But let’s start with the big picture: A year on from the Inflation Reduction Act becoming law, is it living up to its promise?...more

Mintz

Energy & Sustainability Washington Update — July 2023

Mintz on

Bipartisan Infrastructure Law & Inflation Reduction Act Opportunities - Visit our Energy Funding Matrix for a roundup of various clean energy opportunities. We update the matrix on a biweekly basis and welcome any...more

Flaster Greenberg PC

Airport Clean Energy Projects - Tax Credits

Flaster Greenberg PC on

On May 31 the Internal Revenue Service issued its second round of guidance for those entities wishing to obtain tax credits from clean energy projects as part of the $10B program contained within the Inflation Reduction Act...more

Mintz Edge

IRS Issues Notice 2023-44 Clarifying the 48C Program Application Process and Timeline

Mintz Edge on

On May 31, 2023, the Department of Treasury (“Treasury”) and the Internal Revenue Service (“IRS”) released Notice 2023-44 (“Notice”) to provide additional guidance on Section 48C, a revised and expanded allocation-based...more

Baker Donelson

Treasury Provides Key Guidance for Monetizing Clean Energy Tax Credits

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The Treasury Department (Treasury) and the Internal Revenue Service (IRS) issued guidance on June 14, 2023, regarding the Inflation Reduction Act's (IRA) two new clean energy tax credit delivery mechanisms – one on...more

Holland & Knight LLP

Treasury Department and IRS Release Direct Pay and Transferability Guidance

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The U.S. Department of the Treasury and IRS on June 14, 2023, released two notices of proposed rulemaking (NOPRs) regarding the direct payment of tax credits under Section 6417 of the Internal Revenue Code (Elective Payment...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

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

Hogan Lovells

DOE and Treasury issue further guidance on investment tax credits for advanced energy projects (48C)

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The Inflation Reduction Act of 2022 extended the 48C tax credit program, initially enacted in the American Recovery and Reinvestment Act of 2009, and provided an additional $10 billion in credit allocations. In this unusual...more

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