On January 10, 2025, the Internal Revenue Service (IRS) issued Notice 2025-10 and Notice 2025-11. Notice 2025-10 summarizes proposed regulations (Proposed Regulations) that Treasury and the IRS plan to issue with respect to...more
On January 7, 2025, the U.S. Department of Treasury (Treasury) and the Internal Revenue Service (IRS) released final regulations [TD 10024] (Final Regulations) providing guidance on the Clean Electricity Production Tax Credit...more
The final regulations retain the general framework of the proposed regulations, with some important modifications based upon comments from industry members.
The acquisition and retirement of energy attribute certificates...more
1/9/2025
/ Carbon Capture and Sequestration ,
Clean Energy ,
Department of Energy (DOE) ,
Environmental Protection Agency (EPA) ,
Final Rules ,
Greenhouse Gas Emissions ,
Internal Revenue Code (IRC) ,
IRS ,
Methane ,
Natural Gas ,
Nuclear Power ,
Renewable Energy ,
Tax Credits ,
U.S. Treasury
The proposed regulations provide the initial guidance for new tax credits that go into effect in 2025 for clean electricity facilities using various technologies that achieve net-zero greenhouse gas (GHG) emissions.
Under...more
The proposed regulations go beyond the use of the GREET model by requiring the use of “energy attribute certificates” (EACs) to prove eligibility for the credit under section 45V of the Internal Revenue Code (IRC). The use of...more
1/2/2024
/ Clean Energy ,
Department of Energy (DOE) ,
Energy Tax Incentives ,
European Commission ,
Greenhouse Gas Emissions ,
Hydrogen Power ,
Inflation Reduction Act (IRA) ,
Internal Revenue Code (IRC) ,
Investment Tax Credits ,
IRS ,
Proposed Regulation ,
Renewable Energy ,
Tax Credits ,
U.S. Treasury ,
Zero Emission Credits