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Energy Storage › Clean Energy › Internal Revenue Service

Bradley Arant Boult Cummings LLP

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

Bradley Arant Boult Cummings LLP on

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

Holland & Knight LLP

Key Highlights of the Section 48 ITC Final Regulations

Holland & Knight LLP on

The U.S. Department of the Treasury and IRS on Dec. 12, 2024, issued Final Regulations regarding the investment tax credit (ITC) for Section 48 of the Internal Revenue Code, including the ITC for energy generation, energy...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

Ballard Spahr LLP

Treasury and IRS Propose Clean Electricity Investment Guidance

Ballard Spahr LLP on

The Treasury Department and IRS on Wednesday issued an eagerly awaited notice of proposed rulemaking to incentivize clean energy facilities: the “clean electricity production credit”—Section 45Y credit—and “clean electricity...more

Clark Hill PLC

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

Clark Hill PLC on

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

Wilson Sonsini Goodrich & Rosati

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

Wilson Sonsini Goodrich & Rosati on

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

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

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

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