On July 4, 2025, US President Donald Trump signed into law a budget reconciliation bill known as H.R.1: the One Big Beautiful Bill Act (OBBBA). The OBBBA generally accelerated phase-outs to the Inflation Reduction Act of 2022...more
7/8/2025
/ Clean Energy ,
Energy Projects ,
Energy Tax Incentives ,
Federal Budget ,
Foreign Entities ,
Foreign Investment ,
Inflation Reduction Act (IRA) ,
New Legislation ,
Renewable Energy ,
Tax Credits ,
Trump Administration ,
U.S. Treasury
The Internal Revenue Service (IRS) has released its annual update to the list of energy communities eligible for the energy community bonus tax credit. Released as Notice 2025-31, the guidance updates...more
On May 16, 2024, the Internal Revenue Service (IRS) published Notice 2024-41 (Notice), which modifies Notice 2023-38 (Prior Notice) by providing a new elective safe harbor (Safe Harbor) that will allow taxpayers to use...more
Join Partners Heather Cooper and Christopher Gladbach next Tuesday for an insightful discussion on the nuances of the Internal Revenue Services’ (IRS) recent guidance on the clean hydrogen tax credit. They’ll shed light on...more
Join the McDermott Energy & Project Finance Practice Group for its spring webinar series: Navigating the New Energy Landscape. Register for State of the Tax Equity Market and Post-IRA Sources of Funding....more
Join us for the Navigating the New Energy Landscape Webinar Series as we discuss foreign sponsors seeking to break into the US renewables market....more
The Inflation Reduction Act of 2022 (IRA) grants tax credits to clean energy and infrastructure projects. But there is a string attached: to receive the tax credits, workers doing the construction, as well as those doing any...more
2/8/2023
/ Apprenticeships ,
Clean Energy ,
Construction Project ,
Davis-Bacon Act ,
Energy Projects ,
Energy Sector ,
Inflation Reduction Act (IRA) ,
Infrastructure ,
IRS ,
Prevailing Wages ,
Tax Credits
The Navigating the New Energy Landscape webinar series came back last week for a special bonus session that focused on the just-released Internal Revenue Service (IRS) guidance on the wage and apprenticeship provisions...more
12/6/2022
/ Apprenticeships ,
Department of Labor (DOL) ,
Energy Projects ,
Energy Sector ,
Inflation Reduction Act (IRA) ,
IRS ,
New Guidance ,
Renewable Energy ,
Tax Benefits ,
Tax Credits ,
Wage and Hour
The US Department of the Treasury just released its guidance on the labor requirements that must be fulfilled in order to maintain the credit for the full amount for clean energy and infrastructure projects under the...more
11/30/2022
/ Apprenticeships ,
Clean Energy ,
Construction Project ,
Energy Projects ,
Inflation Reduction Act (IRA) ,
Infrastructure ,
Investment Tax Credits ,
Investors ,
Labor Reform ,
Land Developers ,
New Guidance ,
Production Tax Credit ,
U.S. Treasury ,
Wage and Hour
During this webinar, McDermott Partners Heather Cooper and Joel Hugenberger hosted Jay Chang, managing director at CCA Group, for a discussion on how the new technology-neutral tax credit will work and how it may impact the...more
On September 13, McDermott Partners Heather Cooper and Philip Tingle provided a detailed overview of the bonus tax credits under the Inflation Reduction Act of 2022 for projects satisfying low-income thresholds or built-in...more
On August 31, McDermott Partners Heather Cooper and Philip Tingle provided a detailed review of the wage and apprentice, domestic content, transferability and direct provisions of the Inflation Reduction Act of 2022. They...more
On August 1, McDermott Partners Philip Tingle and Heather Cooper hosted a webinar to address the climate bill, dubbed the Inflation Reduction Act of 2022, which unexpectedly came back on the table on July 27...more
On November 17, McDermott Partners Philip Tingle and Heather Cooper were joined by Bill Parsons, COO of the American Council on Renewable Energy (ACORE), for a discussion on recent legislative activity regarding renewable...more
The Future of the Energy Transition webinar series continues. On November 17, McDermott Partners Philip Tingle and Heather Cooper will be joined by a to-be-announced industry expert for a discussion on recent legislative...more
The energy market has undergone significant change in the past 12 months, with even more on the horizon. Our webinar series explores how these changes have shaped—and will continue to impact—the energy industry, including...more
5/20/2021
/ Carbon Capture and Sequestration ,
Energy Market ,
Energy Policy ,
Energy Projects ,
Energy Sector ,
Energy Storage ,
Energy Tax Incentives ,
Investment Tax Credits ,
Legislative Agendas ,
Offshore Wind ,
Production Tax Credit ,
Proposed Legislation ,
Renewable Energy ,
Tax Legislation ,
Tax Rates
The energy market has undergone significant change in the past 12 months, with even more on the horizon. Join us for a webinar series as we explore how these changes have shaped—and will continue to impact—the energy...more
5/17/2021
/ Carbon Capture and Sequestration ,
Energy Market ,
Energy Policy ,
Energy Projects ,
Energy Sector ,
Energy Storage ,
Energy Tax Incentives ,
Investment Tax Credits ,
Legislative Agendas ,
Offshore Wind ,
Production Tax Credit ,
Proposed Legislation ,
Renewable Energy ,
Tax Legislation ,
Tax Rates ,
Webinars
The energy market has undergone significant change in the past 12 months, with even more on the horizon. Our webinar series explores how these changes have shaped—and will continue to impact—the energy industry, including...more
The energy market has undergone significant change in the past 12 months, with even more on the horizon. Join us for a webinar series as we explore how these changes have shaped—and will continue to impact—the energy...more
3/26/2021
/ Carbon Capture and Sequestration ,
Carbon Emissions ,
Energy Market ,
Energy Projects ,
Energy Sector ,
Risk Management ,
Tax Credits ,
Tax Equity ,
Tax Liability ,
Tax Planning ,
Webinars
New guidance from the Internal Revenue Service (IRS, the Service) extends the Continuity Safe Harbor to 10 years for both offshore wind projects and projects on federal land...more
McDermott continues to provide the latest market updates on the disruption and uncertainty in the energy industry. President Trump’s May 1, 2020, executive order prohibiting certain transactions involving bulk-power system...more
5/20/2020
/ Bulk Purchasing ,
Department of Energy (DOE) ,
Due Diligence ,
Electricity ,
Energy Market ,
Energy Projects ,
Energy Sector ,
Executive Orders ,
Foreign Adversaries ,
Investors ,
Manufacturers ,
Procurement Guidelines ,
Renewable Energy ,
Risk Mitigation ,
Suppliers ,
Tax Credits ,
Trump Administration ,
Utilities Sector ,
Webinars
Renewable energy project developers utilizing federal tax credits will likely get more time to complete work on projects. While more formal guidance is forthcoming, the renewables industry may see an extension of the safe...more
Treasury and the IRS released initial guidance on the amended Section 45Q carbon oxide sequestration credit on February 19, 2020. Notice 2020-12 and Revenue Procedure 2020-12 provide guidance relating to the beginning of...more
On December 20, 2019, President Donald Trump signed into law the Further Consolidated Appropriations Act, 2020 (H.R. 1865), which included welcomed extensions for a number of energy tax incentives.
The legislation includes...more
12/24/2019
/ Energy Projects ,
Energy Sector ,
Energy Tax Incentives ,
Investment Tax Credits ,
New Legislation ,
Production Tax Credit ,
Renewable Energy ,
Tax Credits ,
Tax Planning ,
Time Extensions ,
Trump Administration
On December 17, 2019, the US House of Representatives passed a year-end fiscal year 2020 spending bill for the federal government that includes a one-year extension of the production tax credit under Section 45 (PTC) for wind...more