News & Analysis as of

Production Tax Credit Investment Tax Credits U.S. Treasury

Latham & Watkins LLP

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

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

Paul Hastings LLP

IRS and Treasury Tighten Beginning-of-Construction Rules for Wind and Solar

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On Aug. 15, the U.S. Treasury Department and the Internal Revenue Service (IRS) released IRS Notice 2025-42, narrowing the rules for what qualifies as “beginning of construction” (BOC) under the One Big Beautiful Bill Act...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

Baker Botts L.L.P.

Clean Energy Tax Credits: New Guidance on Beginning of Construction for Wind and Solar Facilities

Baker Botts L.L.P. on

On August 15, 2025, the Internal Revenue Service (the “IRS”) and the Department of the Treasury (“Treasury”) released new guidance on the “beginning of construction” for wind and solar facilities under the clean electricity...more

Husch Blackwell LLP

Treasury Guidance Tightens "Beginning of Construction" Standards for Clean Energy Tax Credits, Eliminating 5% Safe Harbor for Wind...

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On August 15, 2025, the Internal Revenue Service (IRS) issued Notice 2025-42, providing long-awaited guidance on the “beginning of construction” requirements for wind and solar facilities under Sections 45Y and 48E of the...more

Davis Wright Tremaine LLP

IRS Makes It More Difficult for Solar and Wind Facilities to Qualify for Federal Tax Credits

The IRS has made it harder for solar and wind projects to satisfy the beginning of construction rules for purposes of qualifying for federal tax credits....more

Eversheds Sutherland (US) LLP

New Beginning of Construction Guidance Related to the Termination of Wind and Solar Renewable Energy Tax Credits Under the OBBBA

On August 15, 2025, the Treasury Department (Treasury) and Internal Revenue Service (IRS) issued much-anticipated guidance (Notice 2025-42) regarding the determination of when an applicable wind or solar facility is...more

DarrowEverett LLP

Get to Work: New Treasury Guidance Changes Safe Harbors for Solar and Wind Tax Credits

DarrowEverett LLP on

On August 15, the Treasury Department published long-awaited guidance on applicability of “beginning of construction” safe harbors for solar and wind projects under the One Big Beautiful Bill and Executive Order 14315. While...more

Foley & Lardner LLP

Treasury Releases New Beginning of Construction Guidance for Wind and Solar

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Treasury and the IRS today released guidance, Notice 2025-42 (the “Notice”), regarding what constitutes beginning of construction for solar and wind energy projects with respect to the production tax credit under Section 45Y...more

Greenbaum, Rowe, Smith & Davis LLP

Passage of One Big Beautiful Bill Act Creates Opportunities and Issues for Alternative and Clean Energy Initiatives

On July 4, 2025, President Donald Trump signed into law the One Big Beautiful Bill Act, following its passage out of the U.S. Senate by the slimmest of margins (51-50) requiring the vote of the Vice President to break the...more

Foley & Lardner LLP

Executive Order on PTC and ITC Beginning of Construction

Foley & Lardner LLP on

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

Stoel Rives LLP

White House Orders Treasury to Revisit Beginning of Construction Guidance

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The White House today issued an Executive Order that requires the Treasury Department to “issue new and revised guidance * * * to ensure that policies concerning the ‘beginning of construction’ are not circumvented, including...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

Baker Botts L.L.P.

The One Big Beautiful Bill Proposes to Severely Restrict Clean Energy Tax Incentives

Baker Botts L.L.P. on

On May 22, 2025, the House passed the legislation entitled “The One Big Beautiful Bill” (the “BBB”) that would, if enacted into law, severely restrict clean energy tax incentives. This client update addresses the BBB’s...more

Orrick, Herrington & Sutcliffe LLP

Tech-Neutral Credits Final Regulations Released for Clean Electricity Production

The U.S. Department of the Treasury (Treasury) and Internal Revenue Service (IRS) have released final regulations for two new tax credits under the Internal Revenue Code (Code), established by the Inflation Reduction Act...more

Troutman Pepper Locke

Treasury and IRS Issue Updated Domestic Content Guidance Under IRA and First Updated Elective Safe Harbor

Troutman Pepper Locke on

On January 16, the Treasury Department (Treasury) and the Internal Revenue Service (IRS) issued Notice 2025-08 (Notice), which provides an updated safe harbor (First Updated Elective Safe Harbor) that modifies and otherwise...more

Troutman Pepper Locke

Treasury and IRS Issue Final Regulations on Clean Electricity Production and Investment Tax Credits

Troutman Pepper Locke on

On January 15, the Treasury Department (Treasury) and the Internal Revenue Service (IRS) published final regulations providing further guidance on the clean electricity production credit under Section 45Y and the clean...more

Pillsbury Winthrop Shaw Pittman LLP

Treasury Department and IRS Issue Final Regulations Regarding the Clean Electricity Tax Credits Under Sections 45Y and 48E of the...

On January 7, 2025, the U.S. Department of Treasury (Treasury) and the Internal Revenue Service (IRS) released final regulations [TD 10024] (Final Regulations) providing guidance on the Clean Electricity Production Tax Credit...more

Vinson & Elkins LLP

Treasury Releases Final Regulations for the Tech-Neutral PTC and ITC

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On January 7, 2025, the U.S. Department of the Treasury (the “Treasury”) and the Internal Revenue Service (the “Service”) issued final regulations (T.D. 10024) (the “Final Regulations” and the preamble thereto, the...more

Foley & Lardner LLP

Final Regulations for New Clean Energy Production and Investment Tax Credits

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Share on Twitter Print Share by Email Share Back to top Last week, the Internal Revenue Service (“IRS”) and Department of the Treasury issued the highly anticipated final regulations for the Clean Electricity Production Tax...more

Troutman Pepper Locke

IRS Issues Final Regulations on Clean Hydrogen Tax Credits

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The IRS and the Treasury Department issued final regulations on January 3 (Final Regulations), providing guidance on the clean hydrogen production tax credit under Section 45V (Hydrogen PTC) and the investment tax credit...more

White & Case LLP

Final Regulations for Clean Hydrogen: Making Tax Credits More Accessible

White & Case LLP on

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

Holland & Knight LLP

Treasury Department, IRS Release Sections 45Y, 48E Tech-Neutral PTC and ITC Final Regulations

Holland & Knight LLP on

The U.S. Department of the Treasury and IRS on Jan. 7, 2025, released final regulations regarding the clean electricity production tax credit (PTC) determined under Section 45Y, as well as the clean electricity investment tax...more

Baker Botts L.L.P.

Final Section 45V Clean Hydrogen Production Tax Credit Regulations Issued

Baker Botts L.L.P. on

On January 3, 2025, the Internal Revenue Service (“IRS”) and the Department of the Treasury (“Treasury”) released long-awaited final regulations regarding the clean hydrogen production tax credit under section 45V of the...more

Holland & Knight LLP

Treasury Department, IRS Release Section 45V Clean Hydrogen PTC Final Regulations

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The U.S. Department of the Treasury and IRS on Jan. 3, 2025, released final regulations regarding the production tax credit (PTC) for hydrogen under Section 45V of the Internal Revenue Code, as enacted by the Inflation...more

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