Senate Draft of BBB Would Standardize and Reduce Value of 45Q Credit, Diminishing Incentives for Long-Term Carbon Storage - The Senate’s draft of the “One Big Beautiful Bill” (BBB) proposes several material changes to...more
The U.S. Department of the Treasury and IRS on Feb. 16, 2024, released a correction to Internal Revenue Code Section 48 Proposed Regulations relating to the new investment tax credit (ITC) for biogas. The correction provides...more
The U.S. Department of the Treasury and IRS on Nov. 17, 2023, released long-awaited proposed regulations (Proposed Regulations) regarding the investment tax credit (ITC) under Section 48 of the Internal Revenue Code. Section...more
The Inflation Reduction Act (IRA) is one of the most ambitious pieces of legislation yet aimed at combating climate change and promoting energy independence. Its proponents claim that it will reduce carbon emissions by 40%,...more
On April 14, 2022, the US Internal Revenue Service (IRS) published a notice that provides the inflation-adjustment factor and reference price for the calculation of renewable electricity production tax credits (PTCs) under...more
Find out why knowing the difference between renewable diesel and biodiesel can go a long way in understanding the benefits of each....more
For more than a decade, the Federal Renewable Fuel Standard (RFS) has provided powerful incentives that have driven the introduction of new transportation fuels into the US marketplace due to valuable credits known as...more
If companies want to capture the value and ultimately profit from the projected growth in renewable diesel, they’ll need to understand their netback....more
On May 27, 2020, the IRS issued Notice 2020-41, which responds to industry-wide supply chain disruptions due to the COVID-19 pandemic by giving renewable energy developers additional time to complete their projects. Most...more
Massive New Bipartisan Senate Energy Legislative Package Could See Vote as Early as Next Week - "The 555 page legislative package combines almost all the 50 energy bills that were reported to the Senate in 2019, and is...more
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
Supreme Court Showdown Set Over Pipeline Crossing of Appalachian Trail - "Led by Dominion and Duke Energy, the company contends that 'long-standing precedent' allows pipelines to cross the 2,000-mile national scenic...more
New Sulfur Caps for Shipping Fuels Will Help Make the Shale Boom Even Bigger "Now the shale revolution will help shippers across the world comply with the International Maritime Organization's 2020 standards, called "IMO...more
New York Sues Exxon Mobil, Saying It Deceived Shareholders on Climate Change - "The litigation, which follows more than three years of investigation, represents the most significant legal effort yet to establish that a...more
Federal Tax Incentives for Renewable Energy and Energy Efficiency - Federal business income tax credit for renewable electricity production - A. GENERAL DESCRIPTION. The Federal Internal Revenue Code provides a business...more
A. GENERAL DESCRIPTION. The Federal Internal Revenue Code provides a business income tax credit in the amount of $0.023 (2015) per kilowatt hour of electricity produced from qualifying renewable resources during a ten-year...more
Federal Tax Incentives for Renewable Energy and Energy Efficiency - A. GENERAL DESCRIPTION. The Federal Internal Revenue Code provides a business income tax credit in the amount of $0.023 (2015) per kilowatt hour of...more
On May 5, 2016, the IRS released Notice 2016-31, which provides additional guidance on the “start of construction” requirements for the production tax credit (PTC) and investment tax credit (ITC) in lieu of the PTC. Notice...more
GENERAL DESCRIPTION. The Federal Internal Revenue Code provides a business income tax credit in the amount of $0.023 (2015) per kilowatt hour of electricity produced from qualifying renewable resources during a ten-year...more
Senate Finance Committee Chairman Max Baucus (D-MT) released a proposal on December 18 that would streamline energy tax incentives to make them more predictable and technology-neutral. The proposal consolidates several...more
The tax press is reporting comments made by Senator Grassley (R-IA) at a Department of Energy forum on biomass. Senator Grassley is reported to have said: “Congress should ‘do away with the incentives for oil’ tax breaks if...more