News & Analysis as of

Energy Tax Incentives Wind Power U.S. Treasury

A&O Shearman

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

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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

Latham & Watkins LLP

Treasury Guidance Narrows Beginning of Construction Rules for Wind and Solar Projects

Latham & Watkins LLP on

Wind and solar projects seeking to begin construction before July 4, 2026, must meet stricter qualification criteria for some tax incentives....more

Offit Kurman

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

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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

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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

Executive Order Requires Treasury Guidance on Wind, Solar and FEOC Rules for Energy Tax Credits

Holland & Knight LLP on

President Donald Trump issued an executive order (EO) on July 7, 2025, regarding "Ending Market Distorting Subsidies for Unreliable, Foreign Controlled Energy Sources." The EO follows the signing into law of the One Big...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

Mintz - ML Strategies

Energy & Environment Update - July 2015 #2

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In This Issue: - Energy and Climate - Congress - Administration - Department of Commerce - Department of Energy - Department of Treasury - Environmental Protection Agency -...more

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