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Pullman & Comley, LLC

DEEP Issues Draft Request for Proposals from Private Developers of Zero Carbon Energy Using Onshore Wind, Solar and Co-located...

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On August 21, 2025, the Connecticut Department of Energy & Environmental Protection (DEEP) released an expedited draft Request for Proposals (RFP). The RFP seeks submissions from project developers for new, advanced-stage...more

Allen Matkins

Renewable Energy Update 8.22.25

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The Internal Revenue Service (IRS) on August 15 issued new rules that would restrict the ability of wind and solar companies to claim federal tax credits, a move that could hinder numerous renewable energy projects under...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

Foley & Lardner LLP

Final Regulations for New Clean Energy Production and Investment Tax Credits

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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

Holland & Knight LLP

Key Highlights of the Section 48 ITC Final Regulations

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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

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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

A&O Shearman

Significant updates in Treasury's final energy credit regulations

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The U.S. Treasury Department and the Internal Revenue Service (“IRS”) published final regulations on December 4, 2024, defining “energy property” and rules applicable to energy credits (the investment tax credit, or the...more

Baker Donelson

Final Energy Credit Regulations Under Section 48

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Overview - The final regulations, scheduled to be published in final form by the Internal Revenue Service (IRS) and the Department of the Treasury on December 12, 2024, provide comprehensive rules regarding the energy credit...more

Vinson & Elkins LLP

Treasury Finalizes Highly Anticipated Guidance on the Investment Tax Credit

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On December 4, 2024, the Department of the Treasury (“Treasury”) and the Internal Revenue Service (the “Service”) issued final regulations [TD 10015] (the “Final Regulations”) for the energy credit available under section 48...more

Allen Matkins

Renewable Energy Update 11.22.24

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Direct-pay eligible entities like local governments, public school districts, churches, and hospitals will now more easily be able to jointly invest in clean energy projects, according to final regulations released by the...more

Holland & Knight LLP

Treasury Department, IRS Release Section 30C Proposed Regulations

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The U.S. Department of the Treasury and IRS on Sept. 19, 2024, released proposed regulations under Section 30C of the Internal Revenue Code providing important clarity on the changes made by the Inflation Reduction Act (IRA)....more

Allen Matkins

Renewable Energy Update 5.07.24

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Governor Gavin Newsom said on April 25 that California continued to rapidly add the battery storage that is crucial to the transition to cleaner energy, but admitted it was still not enough to avoid blackouts during heat...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

Akerman LLP

Maximizing Tax Credits by Installing Solar at LIHTC Projects

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The increased interest in installing solar at affordable housing projects is not surprising given that the IRC Section 48 energy investment tax credit (ITC) could subsidize as much as 70 percent of the cost and the Inflation...more

Allen Matkins

Renewable Energy Update 3.07.24

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The U.S. Department of the Treasury and IRS have released final rules on Inflation Reduction Act provisions that aim to expand the reach of the clean energy tax credits. The Act created the new elective pay and...more

Troutman Pepper Locke

Analyzing the Impact of the IRA on Energy Storage — Battery + Storage Podcast

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In this episode of the Troutman Pepper Battery + Storage Podcast, host Bill Derasmo is joined by Troutman Pepper Partners Anne Loomis and John Leonti to discuss the transformative effects of the Inflation Reduction Act (IRA)...more

King & Spalding

IRS and Treasury Issue Section 48 Investment Tax Credit Proposed Regulations

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Section 48 of the Internal Revenue Code of 1986, as amended (the “Code”) provides for an investment tax credit (“ITC”) for certain energy property. The Inflation Reduction Act of 2022 (the “IRA”) amended Section 48 in several...more

Womble Bond Dickinson

Advanced Energy Project Credit Concept Paper Applications Are Now Open

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In August 2022, President Biden signed the Inflation Reduction Act (IRA). One of the most significant manufacturing incentives bolstered by the IRA is the Advanced Energy Project Credit (Section 48C), which received $10...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

Holland & Knight LLP

Break Out Your Calculator: IRS Releases Domestic Content Bonus Credit Guidance

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Following the release of energy community bonus credit and low-income community bonus credit guidance, the U.S. Department of the Treasury and IRS recently provided taxpayers with the domestic content bonus credit guidance....more

Wilson Sonsini Goodrich & Rosati

IRS Releases Preliminary Guidance on the IRA Domestic Content Bonus Credit

On May 12, 2023, the Internal Revenue Service (IRS) released long-awaited guidance on the domestic content bonus credit under the Inflation Reduction Act of 2022 (IRA). Specifically, the IRS released Notice 2023-38 regarding...more

Akerman LLP

IRS Provides Long-Awaited Guidance Clarifying the Domestic Content Bonus Credit Requirements

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On Friday, May 12, 2023, the IRS released Notice 2023-38 (Notice) providing much needed guidance regarding the requirements to claim the new domestic content bonus credits available under Internal Revenue Code Sections 45,...more

Pillsbury Winthrop Shaw Pittman LLP

IRS Provides Highly Anticipated Wage and Apprentice Guidance for Applicable Tax Credits under the Inflation Reduction Act

Publication of Notice 2022-61 starts the 60-day clock until projects that initially commence construction must comply with the new requirements. On November 30, 2022, the Internal Revenue Service (IRS) published Notice...more

King & Spalding

H2ypothetical - Clean Electricity Credits

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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

Eversheds Sutherland (US) LLP

IRS issues new Section 45Q CCUS ruling

The IRS issued Revenue Ruling 2021-13 on July 1, 2021, which provides additional guidance regarding the section 45Q carbon capture, utilization and storage (CCUS) credit. More specifically, the ruling concludes that: ..A...more

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