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Clean Energy Carbon Capture and Sequestration Tax Credits

Jackson Walker

Carbon Oxide Sequestration Tax Credit Changes Under the One Big Beautiful Bill Act

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The One Big Beautiful Bill Act (the “OBBBA”) modifies the federal income tax credit for carbon oxide sequestration. Such tax credit, in place since 2008, was previously increased by the Inflation Reduction Act of 2022....more

Latham & Watkins LLP

One Big Beautiful Bill: New Law Disrupts Clean Energy Investment

Latham & Watkins LLP on

On July 4, 2025, President Trump signed into law the One Big Beautiful Bill Act (the OBBB), which significantly rolls back many of the core tax incentives that clean energy projects have relied on since the passage of the...more

Troutman Pepper Locke

Tax Credit Implications of the One Big Beautiful Bill Act

Troutman Pepper Locke on

On May 22, the U.S. House of Representatives passed an amended version of H.R. 1—the One Big Beautiful Bill Act (the Bill) — by a vote of 215-214. The House-passed version of the bill, slated to be considered by the Senate...more

Morgan Lewis

Treasury Department Releases Final Regulations Applicable to the Hydrogen Tax Credits

Morgan Lewis on

On January 3, 2025, the US Department of the Treasury released final Treasury regulations applicable to the hydrogen production tax credit under Section 45V and the investment tax credit for hydrogen production facilities...more

Husch Blackwell LLP

Legal Perspectives On CO2-EOR and CCS

Husch Blackwell LLP on

In recent years, the importance of carbon capture technology has grown significantly as a means to combat climate change. With the emergence and advancement of geologic technologies, and their application in the energy...more

Orrick, Herrington & Sutcliffe LLP

Section 45V Clean Hydrogen Tax Credits: Final Regulations Released

The U.S. Department of the Treasury and Internal Revenue Service (IRS) have released final regulations or tax credits for the production of clean hydrogen under Section 45V of the Internal Revenue Code. The industry has...more

Bracewell LLP

Treasury Department and IRS Release Final Regulations for Section 45V Clean Hydrogen Production Tax Credit

Bracewell LLP on

On January 3, 2025, the Treasury Department and the Internal Revenue Service issued final regulations under Internal Revenue Code (Code) Section 45V (the Final Regulations) with respect to credits for the production of clean...more

Vinson & Elkins LLP

Vinson & Elkins Sean Moran and Lauren Collins Discuss the Evolution of Tax Credits

Vinson & Elkins LLP on

Vinson & Elkins' Sean Moran & Lauren Collins have witnessed the evolution of tax credits—from their early days in the late '80s to today’s booming energy transition. Watch as this dynamic duo explores how these credits have...more

King & Spalding

Treasury and IRS Issue Final Regulations Implementing Section 45V Clean Hydrogen Production Tax Credit

King & Spalding on

On January 3, 2025, the IRS and Treasury issued long-awaited final regulations (the “45V Final Regulations”) implementing the clean hydrogen production tax credit (the “45V Credit”) under Section 45V of the Internal Revenue...more

Pillsbury Winthrop Shaw Pittman LLP

Treasury and IRS Issue Final Regulations on the Credit for Production of Clean Hydrogen Under Section 45V of the Internal Revenue...

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

Husch Blackwell LLP

Carbon Capture: Tax Impacts of Utilization & Storage

Husch Blackwell LLP on

One promising solution to climate change is Carbon Capture, Utilization and Storage (“CCUS”). CCUS involves capturing carbon oxides, primarily carbon dioxide (CO2), for permanent storage or potential utilization. Interest in...more

Mintz - Energy & Sustainability Viewpoints

Energy & Sustainability Washington Update — January 2025

As we step into the new year, the energy and sustainability landscape continues to shape up. Building on our December analysis, this month we highlight congressional leadership assignments, new legislative initiatives, and...more

Akin Gump Strauss Hauer & Feld LLP

Energy Policy Priorities for the 119th Congress and Trump Administration

President-elect Trump has been outspoken about his intent to reverse many of the Biden administration’s clean energy legislative and regulatory actions. We expect that the second Trump administration will seek to repeal...more

K&L Gates LLP

Carbon Quarterly – Volume 9

K&L Gates LLP on

Carbon Quarterly is a newsletter covering developments in carbon policy, law, and innovation. No matter your views on climate change policy, there is no avoiding an increasing focus on carbon regulation, resiliency planning,...more

Jones Day

The Climate Report | Second Quarter 2024

Jones Day on

REGULATORY ISSUES & UPDATES - Recent Evolution of the European Regulatory Framework on Greenwashing - Two new Directives adopted by the EU in 2024—the "Empowering Consumers Directive" and the "Green Claims...more

Holland & Knight LLP

Breaking Down the Section 45V Clean Hydrogen PTC Proposed Regulations

Holland & Knight LLP on

The U.S. Department of the Treasury and the IRS on Dec. 22, 2023, released proposed regulations regarding the production tax credit (PTC) for hydrogen under Section 45V of the Internal Revenue Code, as enacted by the...more

Holland & Knight LLP

Treasury Department and IRS Release Direct Pay and Transferability Guidance

Holland & Knight LLP on

The U.S. Department of the Treasury and IRS on June 14, 2023, released two notices of proposed rulemaking (NOPRs) regarding the direct payment of tax credits under Section 6417 of the Internal Revenue Code (Elective Payment...more

King & Spalding

U.S. DOE Releases Report on Clean Hydrogen Strategy and Roadmap

King & Spalding on

The United States recently took another important step in implementing a comprehensive strategy to advance the production, processing, delivery, storage, and use of clean hydrogen. On June 5, 2023, the Biden-Harris...more

BakerHostetler

Bipartisan Bill Seeks Further Tax Incentives for Carbon Capture and Utilization Projects

BakerHostetler on

On Feb. 28, the Captured Carbon Utilization Parity Act (CCU Parity Act) was introduced by Sen. Sheldon Whitehouse, D-R.I., and Sen. Bill Cassidy, R-La. The CCU Parity Act would increase the tax credit available for carbon...more

Morrison & Foerster LLP

NYC’s Local Law 97 Update: PACE Yourself

The first compliance period under New York City’s Local Law 97 (LL97) begins on January 1, 2024, and a January 2023 REBNY-commissioned study concluded that over 3,700 properties could be out of compliance and face over $200...more

BakerHostetler

New CCUS Regulatory Handbook a Practical Guide for Stakeholders, Practitioners and Policymakers

BakerHostetler on

Carbon capture, utilization and storage (CCUS) is primed to play a crucial role in setting the global energy system on a path to net zero. As a result, the United States has endeavored to incentivize investment in large-scale...more

Mayer Brown

IRS Requests Comments on Additional Aspects of Energy Tax Credits

Mayer Brown on

On November 3, 2022, the U.S. Internal Revenue Service (IRS) issued three additional notices requesting public input on key aspects of climate and clean energy tax provisions in the Inflation Reduction Act. Here is list of,...more

Opportune LLP

US Inflation Reduction Act Aims To Give Carbon Capture A Boost, But Will It Take Off?

Opportune LLP on

On August 16, 2022, President Biden signed the landmark “Inflation Reduction Act” (IRA) into law, which contains several renewable energy tax breaks to help companies and U.S. consumers transition to clean energy. While the...more

BakerHostetler

What's in It for Me: The Inflation Reduction Act's Clean Energy Tax Credits

BakerHostetler on

Key Takeaways: ..Recently enacted direct pay and transfer provisions apply to certain clean energy tax credits. These provisions will have a significant impact on how taxpayers can monetize these tax credits and, in...more

Buchalter

Inflation Reduction Act Brings Big Changes to Clean Energy Tax Incentives

Buchalter on

Over the next decade, the United States, through enactment of the Inflation Reduction Act of 2022 (IRA), is primed to make a $369 billion investment in clean energy and climate change programs. The lion’s share of this...more

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