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K&L Gates LLP

IRS Notice 2025-42: What Renewable Developers Need to Know on Beginning of Construction Rules

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On 15 August 2025 the Internal Revenue Service (IRS) released Notice 2025-42 (the Notice), which restricts the methods that developers of wind and solar projects can use to determine whether they have begun construction for...more

A&O Shearman

Highlights of the New Sections 45Y and 48E Wind and Solar Beginning-of-Construction Guidance

A&O Shearman on

On July 4, 2025, Public Law 119-21, commonly known as the One Big Beautiful Bill Act (the “OBBBA”), became law and enacted significant changes to various renewable energy incentives, including the clean electricity production...more

Offit Kurman

Navigating the New Construction Timing Rules for Wind and Solar Tax Credits

Offit Kurman on

The renewable energy sector faces significant regulatory changes following the enactment of the One Big Beautiful Bill Act (OBBBA) on July 4, 2025. Through IRS Notice 2025-42, issued under Executive Order 14315, the Treasury...more

Troutman Pepper Locke

IRS Issues Beginning of Construction Guidance in Response to July Executive Order

Troutman Pepper Locke on

On August 15, the Treasury Department (Treasury) and the Internal Revenue Service (IRS) issued Notice 2025-42, which provides guidance on the beginning of construction requirement as it relates to the new credit termination...more

Vinson & Elkins LLP

Beginning of Construction Guidance Eliminates 5% Safe Harbor (for Wind and Solar), but Physical Work Test Survives

Vinson & Elkins LLP on

On August 15, 2025, the Department of Treasury and the Internal Revenue Service (“IRS”) released guidance for wind and solar facilities under Sections 45Y and 48E (the “Tech-Neutral Tax Credits”) in the form of IRS Notice...more

Bracewell LLP

Treasury Department and IRS Issue New Beginning-of-Construction Guidance for Wind and Solar Facilities

Bracewell LLP on

The One Big Beautiful Bill Act (which we discussed in a previous client alert) generally requires wind and solar facilities to begin construction before July 5, 2026, or be placed in service by December 31, 2027, to qualify...more

Holland & Knight LLP

IRS Releases New Beginning of Construction Rules for Clean Energy Tax Credits

Holland & Knight LLP on

The IRS on Aug. 15, 2025, released Notice 2025-42, which provides new guidance on how taxpayers can establish that they have begun construction of a wind or solar facility for purposes of determining whether such facility is...more

Akin Gump Strauss Hauer & Feld LLP

New BOC Guidance Released

On August 15, 2025, the IRS released new beginning of construction (BOC) guidance for solar and wind facilities claiming production and investment tax credits under sections 45Y and 48E of the Internal Revenue Code in IRS...more

White & Case LLP

New Law Changes IRA Tax Credits - Update

White & Case LLP on

This is an updated version of the alert published on July 4. President Trump signed H.R.1, commonly referred to as the "One Big Beautiful Bill Act" (the "Act") into law on July 4, 2025. Below are our summaries of the...more

Pullman & Comley, LLC

DEEP Issues Request for Information to Inform Expedited Request for Proposals – IMMEDIATE ACTION NEEDED

Pullman & Comley, LLC on

The Connecticut Department of Energy & Environmental Protection (DEEP) released a Request for Information late Friday seeking “expressions of interest from potential project developers who believe that they can (1) meet the...more

DarrowEverett LLP

New Domestic Content Adder Guidance: ‘Buy American’ is Back

DarrowEverett LLP on

On May 16, 2024, the Department of the Treasury and the IRS announced the release of Notice 2024-41, which clarifies the safe harbor for classification of project components created in Notice 2023-38 and provides a new safe...more

McGuireWoods LLP

Domestic Content 10% Bonus Guidance Released (IRS Notice 2023-38)

McGuireWoods LLP on

The Inflation Reduction Act of 2022 (IRA) created a 10% tax credit adder to encourage the use of “domestic content” in renewable projects that qualify for the production tax credit (PTC) and investment tax credit (ITC)....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

McDermott Will & Schulte

IRS Issues Additional Guidance on Beginning of Construction Rules for Renewable Projects

McDermott Will & Schulte on

On December 15, 2016, the Internal Revenue Service released Notice 2017-04, which provides welcome guidance on how to meet the “beginning of construction” requirements for wind and other qualified facilities. There has been...more

Akin Gump Strauss Hauer & Feld LLP

Small Wind Industry Given Grace Period for Compliance with IRS Engineering Standards

On July 14, the Internal Revenue Service (IRS) published Noticed 2015-51, which postpones the effective date of safety and performance standards mandated by Notice 2015-4. The standards in Notice 2015-4 originally applied to...more

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