News & Analysis as of

Production Tax Credit Energy Policy Internal Revenue Service

Pullman & Comley, LLC

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

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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

Holland & Knight LLP

IRS Releases 2025 Inflation Adjustments for Sections 45U, 45V and 45Z

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The IRS on July 21, 2025, released Notice 2025-37, announcing the inflation-adjusted credit amounts for calendar year 2025 applicable to tax credits available under Internal Revenue Code Sections 45U, 45V and 45Z, which were...more

Husch Blackwell LLP

New Executive Order Targets Wind and Solar Tax Credits

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On July 7, 2025, President Trump signed the executive order “Ending Market Distorting Subsidies for Unreliable, Foreign-Controlled Energy Sources.” The EO directs the Secretary of the Treasury to “strictly enforce” the...more

McGuireWoods LLP

Senate and House Pass BBB With Favorable Renewable Energy Credit Provisions, Bill Awaits Trump’s Signature

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On July 3, 2025, after a tumultuous week, the Senate and House passed a version of the One Big, Beautiful Bill Act that contains the most favorable renewable energy credit provisions in any iteration of the bill....more

Troutman Pepper Locke

Treasury and IRS Release Updated Guidance on Energy Communities (UPDATED)

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On June 23, the Treasury Department (Treasury) and the Internal Revenue Service (IRS) issued Notice 2025-31. This notice includes lists of information that taxpayers may use to determine whether they meet certain requirements...more

Troutman Pepper Locke

Tax Credit Implications of the One Big Beautiful Bill Act

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On May 22, the U.S. House of Representatives passed an amended version of H.R. 1—the One Big Beautiful Bill Act (the Bill) — by a vote of 215-214. The House-passed version of the bill, slated to be considered by the Senate...more

Holland & Knight LLP

Eyes on Energy Tax: IRS Releases 2025 Section 45 Production Tax Credit Amounts

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The IRS on May 23, 2025, released 2025 production tax credit (PTC) amounts under Section 45 of the Internal Revenue Code. The guidance provides that: Section 45 allows a renewable energy PTC for generating electricity from...more

White & Case LLP

Final Regulations for Clean Hydrogen: Making Tax Credits More Accessible

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On January 3, 2025, the U.S. Internal Revenue Service ("IRS") and U.S. Department of the Treasury ("Treasury") issued final regulations for the clean hydrogen production tax credit ("PTC") under § 45V of the Internal Revenue...more

Paul Hastings LLP

Treasury and IRS Finalize Clean Hydrogen Production Credit Regulations

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The Inflation Reduction Act of 2022 added the Section 45V production tax credit for the production of clean hydrogen (Section 45V) to the Internal Revenue Code of 1986, as amended. Section 45V provides a credit against...more

Cadwalader, Wickersham & Taft LLP

Energy Tax Credit Sales Stay Fully Charged Despite Uncertain Road Ahead

The Inflation Reduction Act of 2022 (the “IRA”) allows firms to develop and sell clean energy tax credits.  Now that most of the key guidance has been finalized, here is everything you need to know about energy tax credit...more

Mayer Brown

Senator Paul Requests Changes to the IRS’ “Beginning of Construction” Guidance for PTCs

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In a letter dated May 8, 2018, Senator Rand Paul (R-Ky.), in support of his state’s coal industry, urges the U.S. Department of Treasury (“Treasury”) to make significant changes to the existing “beginning of construction”...more

Holland & Knight LLP

House and Senate Tax Bills Target Renewable Energy Projects

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The U.S. Senate passed its version of a bill to overhaul the U.S. tax code on Dec. 2, 2017, and is now working with the House of Representatives to reconcile its bill with the House's version, passed in November. The goal of...more

Davis Wright Tremaine LLP

Additional IRS Guidance on Physical Work Test and Facility Transfers for Energy Tax Credits

The IRS has released additional guidance (Notice 2014-46) on the “beginning of construction” requirement for the renewable energy production tax credit under Code Section 45 (PTC) and energy investment tax credit under Code...more

Davis Wright Tremaine LLP

Additional IRS Guidance on “Beginning of Construction” for ATRA 2012 Tax Credit Extensions

The IRS has released additional guidance (IRS Notice 2013-60) on satisfying the new “beginning of construction” requirement for the renewable energy production tax credit under Code Section 45 (PTC) and energy investment tax...more

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