Treasury and the IRS today released guidance, Notice 2025-42 (the “Notice”), regarding what constitutes beginning of construction for solar and wind energy projects with respect to the production tax credit under Section 45Y...more
8/18/2025
/ Investment Tax Credits ,
IRS ,
New Guidance ,
One Big Beautiful Bill Act ,
Popular ,
Production Tax Credit ,
Renewable Energy ,
Solar Energy ,
Tax Credits ,
U.S. Treasury ,
Wind Power
President Trump last week signed into law the One Big Beautiful Bill Act (the “Act”). The Act made a number of changes to the clean electricity production credit under Section 45Y of the Internal Revenue Code (the “PTC”), the...more
7/10/2025
/ Energy Policy ,
Energy Projects ,
Federal Funding ,
Inflation Reduction Act (IRA) ,
Internal Revenue Code (IRC) ,
Investment Tax Credits ,
New Legislation ,
Production Tax Credit ,
Renewable Energy ,
Tax Credits ,
Trump Administration
President Trump yesterday issued an executive order, “Ending Market Distorting Subsidies for Unreliable, Foreign Controlled Energy Sources” (the “Executive Order”), which could have a major impact on wind and solar energy...more
7/9/2025
/ Energy Policy ,
Energy Projects ,
Executive Orders ,
Federal Funding ,
Internal Revenue Code (IRC) ,
Investment Tax Credits ,
Popular ,
Production Tax Credit ,
Renewable Energy ,
Tax Credits ,
Trump Administration ,
U.S. Treasury
The United States Senate Committee on Finance this afternoon released draft text of its version of the “One Big Beautiful Bill,” which is available here. Although we are continuing to review the draft legislation, at a high...more
6/17/2025
/ Energy Policy ,
Energy Tax Incentives ,
Federal Funding ,
Investment Tax Credits ,
Legislative Agendas ,
Production Tax Credit ,
Proposed Legislation ,
Renewable Energy ,
Solar Energy ,
Tax Credits ,
Wind Power
Applicable Limitations on Tax Credits under Sections 48E, 45Y, and 45X:
The below summary describes provisions in the One Big Beautiful Bill that were passed by the House and are currently under consideration in the...more
May 12th, the House Ways and Means Committee released a package of tax provisions (the “Bill”) that includes claw backs of certain provisions of the Inflation Reduction Act. Note that this Bill is a draft only, has not been...more
Share on Twitter Print Share by Email Share Back to top Last week, the Internal Revenue Service (“IRS”) and Department of the Treasury issued the highly anticipated final regulations for the Clean Electricity Production Tax...more
1/17/2025
/ Energy Sector ,
Energy Storage ,
Final Rules ,
Greenhouse Gas Emissions ,
Internal Revenue Code (IRC) ,
Investment Tax Credits ,
IRS ,
Production Tax Credit ,
Renewable Energy ,
Tax Credits ,
U.S. Treasury
The Internal Revenue Service (“IRS”) and Department of the Treasury last week released final regulations (the “Final Regulations”) relating to investment tax credits under Section 48 of the (the “ITC”) of the Internal Revenue...more
12/13/2024
/ Applications ,
Apprenticeships ,
Energy Projects ,
Energy Storage ,
Final Rules ,
Interconnections ,
Internal Revenue Code (IRC) ,
Investment Tax Credits ,
IRS ,
Prevailing Wages ,
Proposed Regulation ,
U.S. Treasury
Late last week, the Internal Revenue Service (“IRS”) and Department of the Treasury released final regulations relating to transfers of certain tax credits pursuant to Section 6418 of the Code (the “Code” and, such rules, the...more
The Internal Revenue Service (“IRS”) and Department of the Treasury earlier this week released final regulations relating to direct cash payments for certain tax credits pursuant to Section 6417 of the Internal Revenue Code...more
The Internal Revenue Service on Friday opened the registration portal for taxpayers selling eligible tax credits, including investment tax credits and production tax credits. The portal also permits tax-exempt and other...more
Late last week, the Internal Revenue Service (“IRS”) and Department of the Treasury released the long-awaited proposed regulations (the “Proposed Regulations”) relating to investment tax credits under Section 48 of the Code...more
11/21/2023
/ Apprenticeships ,
Batteries ,
Energy Storage ,
Geothermal Energy ,
Inflation Reduction Act (IRA) ,
Investment Tax Credits ,
IRS ,
Prevailing Wages ,
Production Tax Credit ,
Proposed Regulation ,
Reporting Requirements ,
Solar Energy
The Internal Revenue Service (IRS) and Department of the Treasury earlier this month released final regulations (the “Low-Income Community Bonus Credit Rules”) relating to the low-income community bonus credit pursuant to...more
The Internal Revenue Service (“IRS”) and Department of the Treasury earlier this week released extensive proposed regulations relating to direct cash payments for certain tax credits pursuant to Section 6417 of the Internal...more
On May 12, 2023, the IRS and the Department of the Treasury issued highly anticipated guidance regarding the requirements to satisfy the domestic content bonus tax credit provisions for investment tax credits under Sections...more
On April 4, 2023, the Department of Treasury (the “Treasury”) and the Internal Revenue Service (the “IRS”) released Notice 2023-29 (the “Notice”) providing a high-level overview of the rules they intend to include in...more
4/5/2023
/ ASTM ,
Brownfield Properties ,
CERCLA ,
Coal Industry ,
Energy Information Association (EIA) ,
Energy Sector ,
Environmental Site Assessment ,
Fossil Fuel ,
Investment Tax Credits ,
IRS ,
New Guidance ,
Proposed Regulation ,
Tax Revenues ,
U.S. Treasury
On February 13, 2023, the Department of Treasury and the Internal Revenue Service released Notice 2023-17, providing a high-level overview of the program to be established under Section 48(e) of the Internal Revenue Code (the...more
On November 30, 2022, the Department of the Treasury and the Internal Revenue Service published Notice 2022-61 (the “Guidance”) describing how to satisfy certain prevailing wage and apprenticeship requirements (the “PWA...more
The passage of the Inflation Reduction Act (IRA) this past August saw the introduction of a number of new and expanded tax credits aimed at onshoring American manufacturing...more
10/27/2022
/ Biden Administration ,
Energy Projects ,
Energy Tax Incentives ,
Executive Orders ,
Inflation Reduction Act (IRA) ,
Investment Tax Credits ,
IRS ,
Manufacturers ,
Production Tax Credit ,
Renewable Energy ,
U.S. Treasury
On August 12, 2022, the House of Representatives passed the Inflation Reduction Act of 2022 (the “Act”), which the Senate passed on August 7, 2022. President Biden has indicated that he will sign the Act into law....more