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Troutman Pepper Locke

Tax Credit Implications of the One Big Beautiful Bill Act

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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

Bradley Arant Boult Cummings LLP

Inflation Reduction Act Domestic Content Bonus Update: IRS Issues Updated Guidance with First Updated Elective Safe Harbor

On January 16, 2025, the IRS released Notice 2025-08, modifying its prior guidance issued as Notice 2023-38 and Notice 2024-41, for taxpayers seeking to qualify for the domestic content bonus tax credit amounts under the...more

ASKramer Law

Energy Tax Credits for a New World Part VII: Low-Income Communities Bonus Credits

ASKramer Law on

What is the Low-Income Communities Bonus Credit? The Low-Income Communities Bonus Credit available through the Inflation Reduction Act of 2022 (IRA) is designed to increase the siting of, and access to renewable energy...more

Vinson & Elkins LLP

Treasury Issues Proposed Regulations on Clean Electricity Low-Income Communities Bonus

Vinson & Elkins LLP on

On August 30, 2024, the Department of Treasury (the “Treasury”) and the Internal Revenue Service (the “IRS”) issued proposed regulations (the “Proposed Regulations”) providing additional guidance to taxpayers on the...more

ASKramer Law

Energy Tax Credits for a New World Part II: Production Tax Credits and Investment Tax Credits: The Old and the New

ASKramer Law on

What is a Production Tax Credit (PTC)? A Production Tax Credit (PTC) is a per kilowatt-hour (kWh) tax credit for electricity generated by solar and other qualifying clean technologies for the first 10 years of a system’s...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Clean Energy Tax Credits for Tax Year 2023: Internal Revenue Service Issues Statistical Chart

The Internal Revenue Service (“IRS”) issued an August 7th news release providing statistics on the Inflation Reduction Act (“IRA”) clean energy tax credits for the tax year 2023. The news release says that tax payers have...more

Pillsbury Winthrop Shaw Pittman LLP

Treasury Department Announces Process and Timetable to Allocate $6 Billion in Qualifying Advanced Energy Project Credits

The application cycle for Treasury to award this round of credits will soon open, providing applicants an opportunity to receive significant funding for clean energy, industrial decarbonization and critical materials...more

Clark Hill PLC

[Webinar] Preparing for Clean Energy Tax Credit Transfer Transactions - May 1st, 12:00 pm - 1:00 pm EDT

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Project developers in the EV, solar, wind, battery, CCUS, hydrogen, biofuels, and energy efficiency markets have been blessed by the IRS with the ability to transfer tax credits directly to willing buyers. Tax equity...more

Mitchell, Williams, Selig, Gates & Woodyard,...

IRS Releases 2024 Procedural Guidance for Solar and Wind Projects in Low Income Communities

Last week the Department of Treasury and Internal Revenue Services (IRS) issued procedural guidance for the second year of the Low-Income Communities Bonus Credit Program under Section 48(e) of the Internal Revenue Code...more

Flaster Greenberg PC

Airport Electrification – Latest IRS Guidance

Flaster Greenberg PC on

The Department of the Treasury and Internal Revenue Service continue to issue guidance regarding the Inflation Reduction Act of 2022 (IRA), which modified and extended the clean energy investment tax credit (ITC) under...more

Pillsbury Winthrop Shaw Pittman LLP

Treasury Department Announces Additional Guidance and Timetable to Allocate $4 Billion in Qualifying Advanced Energy Project...

The application cycle for the first round of credits will soon open. Treasury’s additional guidance clarifies what types of facilities may qualify for credits, the submission process and the selection criteria for evaluating...more

Wilson Sonsini Goodrich & Rosati

IRS Releases New Proposed Rules for the Low-Income Communities Bonus Credit for the Investment Tax Credit

On May 31, 2023, the Department of Treasury (Treasury) and Internal Revenue Service (IRS) released proposed rules that set forth application and eligibility criteria for the low-income communities bonus credit investment...more

McGuireWoods LLP

IRS Issues Guidance for Energy Tax Credits in Low-Income Communities – Notice 2023-17

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The Inflation Reduction Act of 2022 (IRA) created several new tax incentives to encourage developing clean energy projects that would benefit underserved communities and individuals. Among these incentives, Congress included...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Clean Energy Tax Incentives/Inflation Reduction Act: Environmental Organizations Submit Comments to the Internal Revenue Service

The Natural Resources Defense Council and 25 other environmental and climate advocacy organizations (collectively, “NRDC”) submitted November 4th comments to the United States Department of Treasury’s Internal Revenue Service...more

King & Spalding

H2ypothetical - Clean Electricity Credits

King & Spalding on

On August 16, 2022, President Biden signed the Inflation Reduction Act of 2022 (the Act). The Act includes multiple tax benefits for hydrogen production, storage and utilization, summarized in the following King & Spalding...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Solar Tax Benefits Now Directly Available to State and Local Governments and 501(c)(3) Organizations

On August 16, 2022, President Biden signed the Inflation Reduction Act (or IRA), which provides significant tax and other incentives for qualifying renewable energy facilities including solar generation facilities. Among...more

Kohrman Jackson & Krantz LLP

Democratic Senators Reach Agreement On Climate and Tax Bill

On Wednesday evening, Senators Joe Manchin and Majority Leader Chuck Schumer announced that they had reached an agreement on a bill imposing a 15% minimum tax on certain large corporations, providing clean energy tax...more

Morgan Lewis

Are Investment Tax Credit Changes in Store for Energy Storage?

Morgan Lewis on

The US energy storage industry is experiencing rapid growth, with approximately 3.5 gigawatt hours (GWh) of energy storage installed in 2020, which is greater than the aggregate 3.1 GWh of energy storage installed from 2013...more

Mayer Brown

Residential Solar Storage is Eligible for Tax Credit, Subject to a 100% Cliff

Mayer Brown on

In a recently released private letter ruling, the IRS confirmed that residential solar energy batteries are eligible for the tax credit under Section 25D of the Code (the “Residential Solar Credit”), subject to an important...more

Robinson & Cole LLP

Green Tax Incentive Compendium - July 2016

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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

Allen Matkins

Renewable Energy Update - October 2015 #2

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Renewable Energy Focus: Governor Brown signs climate-change bill that calls for more renewable energy and energy efficiency: OC Register - Oct 7: California Governor Jerry Brown has signed SB350, an ambitious bill...more

Mintz - Energy & Sustainability Viewpoints

Proposed IRS Rule Could Allow Solar Energy REITs

President Obama announced on Friday several executive actions to advance clean energy. Among them, the Internal Revenue Service (IRS) will publish new regulations on May 14th clarifying that certain solar generating assets...more

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