On January 16, the Treasury Department (Treasury) and the Internal Revenue Service (IRS) issued Notice 2025-08 (Notice), which provides an updated safe harbor (First Updated Elective Safe Harbor) that modifies and otherwise...more
On January 15, the Treasury Department (Treasury) and the Internal Revenue Service (IRS) published final regulations providing further guidance on the clean electricity production credit under Section 45Y and the clean...more
1/24/2025
/ Clean Energy ,
Final Rules ,
Greenhouse Gas Emissions ,
Inflation Reduction Act (IRA) ,
Internal Revenue Code (IRC) ,
Investment Tax Credits ,
IRS ,
Production Tax Credit ,
Renewable Energy ,
Tax Credits ,
U.S. Treasury
On December 4, the Treasury Department (Treasury) and the Internal Revenue Service (IRS) released final regulations providing further guidance in determining whether property is energy property and eligible for the Investment...more
12/12/2024
/ Construction Project ,
Energy Policy ,
Energy Projects ,
Energy Reform ,
Energy Tax Incentives ,
Final Rules ,
Inflation Reduction Act (IRA) ,
Infrastructure ,
Internal Revenue Code (IRC) ,
Investment Tax Credits ,
IRS ,
Prevailing Wages ,
Property Owners ,
Tax Reform ,
U.S. Treasury
On October 24, the Treasury Department (Treasury) and the Internal Revenue Service (IRS) issued final regulations (Final Regulations) on the Advanced Manufacturing Production Credit (Section 45X Credit), pursuant to Section...more
Dive into the complexities of clean hydrogen production and the associated tax credits with Troutman Pepper Partners Anne Loomis and Mindy McGrath. In this video, they explore the Inflation Reduction Act’s new production tax...more
On June 18, the Treasury Department (Treasury) and the Internal Revenue Service (IRS) released final regulations (Final Regulations) on the prevailing wage and apprenticeship requirements under Section 45(b)(7) (Prevailing...more
We are pleased to announce the release of our latest whitepaper, Fueling Up: How to Make U.S. Clean Hydrogen Projects Happen. This comprehensive report explores the critical steps needed to unlock the potential of clean...more
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
5/23/2024
/ Energy Projects ,
Energy Storage ,
Hydropower ,
Inflation Reduction Act (IRA) ,
Infrastructure ,
Investment Tax Credits ,
IRS ,
Manufacturers ,
Natural Gas ,
Oil & Gas ,
Proposed Regulation ,
Renewable Energy ,
Safe Harbors ,
U.S. Treasury
On April 25, the Treasury Department (Treasury) and the Internal Revenue Service (IRS) issued final regulations (Final Regulations) on tax credit transfers pursuant to Section 6418 of the Internal Revenue Code of 1986, as...more
On March 22, the Treasury Department (Treasury) and the Internal Revenue Service (IRS) issued Notice 2024-30, which modifies prior guidance on the energy community enhancements. It further clarifies (a) when offshore...more
On March 5, the Treasury Department (Treasury) and the Internal Revenue Service (IRS) issued final regulations (Final Regulations) on the elective payment of certain tax credits (direct pay) pursuant to Section 6417 of the...more
3/11/2024
/ Energy Projects ,
Final Rules ,
Income Taxes ,
Inflation Reduction Act (IRA) ,
Infrastructure ,
Internal Revenue Code (IRC) ,
Investment Tax Credits ,
IRS ,
Production Tax Credit ,
Tax Credits ,
Tax Liability ,
U.S. Treasury
The IRS and the Treasury Department issued proposed regulations on December 26, 2023 (Proposed Regulations), providing guidance on the clean hydrogen production tax credit under Section 45V (Hydrogen PTC) and the investment...more
1/2/2024
/ Clean Energy ,
Climate Action Plan ,
Department of Energy (DOE) ,
Energy Projects ,
Energy Tax Incentives ,
Greenhouse Gas Emissions ,
Inflation Reduction Act (IRA) ,
Infrastructure ,
Investment Tax Credits ,
IRS ,
Production Tax Credit ,
Proposed Regulation ,
Regulatory Agenda ,
Renewable Energy ,
Tax Credits ,
U.S. Treasury
On December 14, the Department of the Treasury and the Internal Revenue Service (IRS), issued proposed regulations providing guidance on the Advanced Manufacturing Production Credit (Section 45X Credit), established by the...more
In this episode of the Troutman Pepper Battery + Storage Podcast, host Bill Derasmo is joined by Troutman Pepper Partners Anne Loomis and John Leonti to discuss the transformative effects of the Inflation Reduction Act (IRA)...more
On December 1, the U.S. Department of Energy (DOE) released long-awaited proposed guidance defining “foreign entity of concern” (FEOC) under the Infrastructure Investment and Jobs Act (IIJA). Simultaneously, the U.S....more
12/14/2023
/ Automotive Industry ,
China ,
Clean Car Standards ,
Clean Energy ,
Department of Energy (DOE) ,
Electric Vehicles ,
Foreign Entities ,
Inflation Reduction Act (IRA) ,
Infrastructure Investment and Jobs Act (IIJA) ,
IRS ,
Motor Vehicles ,
Proposed Guidance ,
Subsidies ,
Supply Chain ,
Tax Credits ,
U.S. Treasury
The Treasury Department (Treasury) and the Internal Revenue Service (IRS) published proposed regulations on the prevailing wage and apprenticeship requirements under Section 45(b)(7) (Prevailing Wage Requirements) and (8)...more
On June 14, the Treasury Department (Treasury) and the Internal Revenue Service (IRS) issued proposed regulations and temporary regulations on direct pay of certain tax credits pursuant to Section 6417 of the Internal Revenue...more
On June 15, the Treasury Department (Treasury) and the Internal Revenue Service (IRS) issued Notice 2023-45 and Notice 2023-47. Notice 2023-45 clarifies requirements for a brownfield site energy community safe harbor provided...more
6/20/2023
/ ASTM ,
Brownfield Properties ,
Coal Industry ,
Contaminated Properties ,
Energy Projects ,
Environmental Site Assessment ,
Inflation Reduction Act (IRA) ,
IRS ,
Safe Harbors ,
Tax Liability ,
U.S. Treasury
The Inflation Reduction Act (IRA) changed the game when it comes to battery storage and its qualifications for investment tax credits (ITC). Partners Christine Byrnes and Anne Loomis discuss the eligibility of energy storage...more
On May 12, the Treasury Department (Treasury) and the Internal Revenue Service (IRS) issued Notice 2023-38, which describes certain rules that Treasury and the IRS intend to include in forthcoming proposed regulations...more
Greater flexibility in deal structuring, and the ability to sell tax credits, are two of several new options for project sponsors and investors presented by the Inflation Reduction Act. In this video, Partners Anne Loomis and...more
Introduction -
On March 31, the Internal Revenue Service (IRS) issued highly anticipated proposed regulations on electric vehicle (EV) tax credits. Driven by an ambitious climate agenda, the Biden administration has...more
On April 4, the Treasury Department (Treasury) and the Internal Revenue Service (IRS) issued Notice 2023-29, which describes certain rules that Treasury and the IRS intend to include in forthcoming proposed regulations...more
On Aug. 16, President Joe Biden signed the Inflation Reduction Act into law. The legislation includes landmark tax incentives for domestic energy production and manufacturing, with the goal of reducing carbon emissions in the...more
The Inflation Reduction Act of 2022 (IRA) created several new incentives for clean vehicles. Under prior law, taxpayers could claim a credit for purchasing and placing in service “new qualified plug-in electric drive motor...more