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Offshore Wind Internal Revenue Service Wind Power

Allen Matkins

Renewable Energy Update 8.22.25

Allen Matkins on

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

Troutman Pepper Locke

Latest Energy Communities Guidance Buoys Offshore Wind, but Navigation Hazards ‎Remain

Troutman Pepper Locke on

On March 22, 2024, the IRS issued additional guidance (Notice 2024-30) on the energy communities provision of the Inflation Reduction Act. This latest guidance is narrowly focused on two topics: (1) expanding the “hook” by...more

Faegre Drinker Biddle & Reath LLP

Section 48 Investment Tax Credit for Offshore Wind and Energy Storage

The Department of the Treasury (DOT), through the Internal Revenue Service (IRS) and in consultation with the Department of Energy (DOE), released new draft guidance on Section 48 tax credits, as well as updated guidance in...more

Troutman Pepper Locke

Treasury Issues Proposed Regulations ‎‎on Expanded ITC Under Inflation Reduction Act, ‎Boosting ‎‎Storage, Offshore Wind

Troutman Pepper Locke on

On November 17, 2023, the Internal Revenue Service (“IRS”) and the U.S. Treasury Department (“Treasury”) issued Proposed Treasury Regulations (REG-132569-17) (the “Proposed Regulations”) providing guidance and amending...more

Troutman Pepper Locke

That Sinking Feeling: IRS Energy ‎Communities Guidance May Limit Eligibility of Many ‎Offshore ‎Wind Projects

Troutman Pepper Locke on

In an ongoing series related to the Inflation Reduction Act (“IRA”), we have been looking at key provisions of the IRA with the potential to benefit the U.S. offshore wind industry. On April 5, 2023, the IRS issued Notice...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Clean Energy Tax Incentives/Inflation Reduction Act: Environmental Organizations Submit Comments to the Internal Revenue Service

The Natural Resources Defense Council and 25 other environmental and climate advocacy organizations (collectively, “NRDC”) submitted November 4th comments to the United States Department of Treasury’s Internal Revenue Service...more

Pillsbury Winthrop Shaw Pittman LLP

New Guidance from IRS Extends Safe Harbor for Offshore Wind and Federal Land Projects

The IRS issues anticipated continuity guidance providing relief to offshore wind developers and federal land projects. Offshore and federal land projects now have 10 years to be completed after the year in which...more

Orrick, Herrington & Sutcliffe LLP

Consolidated Appropriations Act Extends Construction Deadline for Tax Credits for Wind and Solar Projects

The Consolidated Appropriations Act, 2021 (the “Act”) was signed into law on December 27, 2020. The Act provided an extension of the beginning of construction deadline for the Production Tax Credit (“PTC”) for wind projects...more

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