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
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 the advanced manufacturing production tax credit under Section 45X (“45X Credits”)...more
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
Earlier this month, the Internal Revenue Service (“IRS”) and Department of the Treasury released proposed regulations (the “Proposed Regulations”) relating to the advanced manufacturing tax credit under Section 45X of the...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
The Internal Revenue Service today released much anticipated proposed regulations with respect to the Section 45V tax credit for the production of clean hydrogen, which we expect will generate significant comments. The Foley...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 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
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
The Biden Administration has proposed the creation of a new tax credit under the new Section 48D of the Code for qualifying electric power transmission property that is placed in service after December 31, 2021, but before...more
The IRS has released Notice 2021-05, which extends the Continuity Safe Harbor detailed in Notice 2018-59 from 4 years to 10 years for offshore wind projects and renewable energy projects constructed on federal land. As such,...more
On February 20, 2020, the IRS issued its first round of guidance regarding the carbon sequestration tax credit found in Section 45Q (the “Section 45Q Credit”) of the Internal Revenue Code of 1986 (as amended, the “Code”) in...more
3/12/2020
/ Carbon Capture and Sequestration ,
Carbon Emissions ,
Energy Projects ,
Greenhouse Gas Emissions ,
Income Taxes ,
Internal Revenue Code (IRC) ,
Investors ,
IRS ,
New Guidance ,
Oil & Gas ,
Partnerships ,
Revenue Procedures ,
Safe Harbors ,
Tax Credits ,
Tax Planning
On December 20, 2019, the President signed the Taxpayer Certainty and Disaster Tax Relief Act of 2019 (the “Act”), which extends the current production tax credit (PTC) for wind for an additional year. The Act extends the...more
1/6/2020
/ Biomass ,
Energy Projects ,
Energy Sector ,
Geothermal Energy ,
Hydropower ,
Marine Hydrokinetic (MHK) Energy ,
Offshore Wind ,
Production Tax Credit ,
Renewable Energy ,
Tax Credits ,
Wind Power
The IRS just published its annual notice that provides the inflation adjustment factors and reference prices used in determining the amount of the section 45 production tax credit (PTC) for the production of renewable energy...more
Early this morning, the House and Senate voted to pass a budget deal that included $17 billion in tax provisions, ending a short overnight government shutdown. The bill (H.R. 1892) extends the investment tax credit (ITC) to...more