News & Analysis as of

U.S. Treasury Energy Storage Energy Projects

A&O Shearman

Navigating the new elective safe harbor for the Domestic Content Bonus Tax Credit

A&O Shearman on

The U.S. Treasury Department and the Internal Revenue Service have issued a new safe harbor that will make it easier for U.S. solar, onshore wind and battery storage projects with U.S.-sourced components to qualify for...more

Troutman Pepper

Treasury and IRS Issue Additional Domestic Content Guidance Under IRA and New Elective Safe Harbor

Troutman Pepper on

On May 16, the Treasury Department (Treasury) and the Internal Revenue Service (IRS) issued Notice 2024-41, which modifies Notice 2023-38 (Prior Guidance) by expanding the list of Applicable Projects (defined below) to...more

Allen Matkins

Renewable Energy Update 5.07.24

Allen Matkins on

Governor Gavin Newsom said on April 25 that California continued to rapidly add the battery storage that is crucial to the transition to cleaner energy, but admitted it was still not enough to avoid blackouts during heat...more

King & Spalding

IRS and Treasury Issue Section 48 Investment Tax Credit Proposed Regulations

King & Spalding on

Section 48 of the Internal Revenue Code of 1986, as amended (the “Code”) provides for an investment tax credit (“ITC”) for certain energy property. The Inflation Reduction Act of 2022 (the “IRA”) amended Section 48 in several...more

Stoel Rives LLP

Treasury Issues Proposed Regulations Regarding Energy Property, Prevailing Wage and Apprenticeship, the 80/20 Rule, and...

Stoel Rives LLP on

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

Allen Matkins

Renewable Energy Update 9.05.23

Allen Matkins on

The U.S. Department of Energy (DOE) is offering up to $300 million for states, tribes, and local governments to bolster transmission siting and permitting processes while supporting economic development. Through the...more

Allen Matkins

Renewable Energy Update - 2.16.23 - #3

Allen Matkins on

The Biden administration on Tuesday outlined how states and nonprofit groups can apply for $27 billion in funding from a “green bank” that will provide low-cost financing for projects intended to cut planet-warming greenhouse...more

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