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Foley & Lardner LLP

Executive Order on PTC and ITC Beginning of Construction

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President Trump yesterday issued an executive order, “Ending Market Distorting Subsidies for Unreliable, Foreign Controlled Energy Sources” (the “Executive Order”), which could have a major impact on wind and solar energy...more

McGuireWoods LLP

Tax Bill Enacted on July 4, 2025 Contains Scaled-back Renewable Energy Provisions

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On July 4, 2025, President Donald Trump signed the One Big, Beautiful Bill Act into law, which scales back renewable energy tax provisions. The final bill did, however, contain more favorable renewable energy tax provisions...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

King & Spalding

Guidance on Section 45V Clean Hydrogen Production Tax Credit

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The trajectory of the hydrogen sector in the United States hinges on a critical question: what criteria will be used to define the term “clean hydrogen” for tax purposes? As previously outlined in our Field Guide to Clean...more

Holland & Knight LLP

Breaking Down the Section 48 Investment Tax Credit Proposed Regulations

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The U.S. Department of the Treasury and IRS on Nov. 17, 2023, released long-awaited proposed regulations (Proposed Regulations) regarding the investment tax credit (ITC) under Section 48 of the Internal Revenue Code. Section...more

Bracewell LLP

General Overview of the Inflation Reduction Act of 2022

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On Tuesday, August 16, President Biden signed the Inflation Reduction Act of 2022 (the Act) into law, which includes material changes to various sections of the Internal Revenue Code of 1986, as amended (the Code). The...more

King & Spalding

Hydrogen-Related Provisions of the Inflation Reduction Act of 2022

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The Inflation Reduction Act of 2022, passed by the Senate on August 7, 2022, includes a number of provisions projected to result in significant investments in domestic energy production and manufacturing, and reduce carbon...more

McGuireWoods LLP

U.S. Senate Introduces the Clean Energy for America Act

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On April 21, 2021, U.S. Senate Finance Committee Chairman Ron Wyden (D-Ore.) and 24 Democratic senators introduced the Clean Energy for America Act, which proposes to consolidate the current energy tax incentives available...more

Mintz - Energy & Sustainability Viewpoints

Viewing Notice 2020-12 Through the Lens of Notice 2013-29 and Notice 2018-59: How is “Beginning of Construction” Guidance for...

In February 2020, the IRS issued Notice 2020-12, which provides long-awaited guidance on when a “qualified facility” or carbon capture equipment, in each case within the meaning of section 45Q, is considered to have “begun...more

McDermott Will & Emery

IRS Issues Private Letter Ruling Allowing Tax Equity Financing with a Regulated Utility Taxpayer

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In Private Letter Ruling 201946007, the Internal Revenue Service (IRS) allowed a tax equity investor to participate with a regulated utility in a tax equity financing arrangement for wind investments without being subject to...more

Holland & Knight LLP

IRS Sheds New Light on Solar Tax Credits, Leaves Energy Storage in the Dark

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The Internal Revenue Service (IRS) issued recent guidance regarding construction of commercial solar energy properties and other qualified energy properties for purposes of claiming the Investment Tax Credit (ITC), the key...more

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