4 Key Takeaways | Harnessing the Inflation Reduction Act: Driving Investments in Renewable Energy and Carbon Reduction
The Mid-Atlantic Renewable Energy Coalition (MAREC Action) and Bricker Graydon invite you to join us for an engaging event exploring the future of energy policy in Kentucky. Discover how an “all of the above” energy strategy...more
The U.S. Department of the Treasury (Treasury) earlier this week issued a notice of proposed rulemaking regarding the up to 20 percentage point additional investment tax credit (ITC) for certain solar and wind facilities...more
The U.S. Department of the Treasury yesterday released Internal Revenue Service Notice 2023-17, Initial Guidance Establishing Program to Allocate Environmental Justice Solar and Wind Capacity Limitation under Internal Revenue...more
On August 12, 2022, Congress passed the Inflation Reduction Act of 2022 (“Act” or “IRA”), a $400 billion legislative package containing significant tax and other government incentives for the energy industry, in particular...more
The Inflation Reduction Act of 2022 (IRA) will be a game changer for the energy industry. This guide focuses on those issues of particular significance to the energy industry; it is not intended to be comprehensive....more
On June 29, 2021, the IRS issued Notice 2021-41, which provides a further extension of the continuity safe harbor and revises the “facts and circumstances” rules: ..For PTC and ITC-eligible projects for which...more
On December 27, President Donald Trump signed a $1.4 trillion appropriations package funding the government through September 2021 and a $900 billion fiscal stimulus law for coronavirus aid. Media attention has focused on the...more
A letter issued by the Office of Legislative Affairs at the Department of the Treasury Thursday suggests that some relief is on the way for a renewables industry that has been battered by the COVID-19 crisis and has expressed...more
A favorable outcome for wind and other renewable projects, but solar and storage are left out. Key Points: ..Qualifying wind projects on which construction begins after December 31, 2019 and before January 1, 2021 will...more
Solar developers are getting antsy about what is needed to show that they started construction on their 2020 (or later) projects by the end of 2019. The answer is not clear in the absence of solar-specific guidance from...more
The Bipartisan Budget Act of 2018 (H.R. 1892) (the “Act”) was enacted on February 9, 2018. The Act is a two-year budget agreement that includes a number of provisions extending lapsed renewable energy-related tax credits;...more
We drafted a tax alert that addresses the impact of the much anticipated "Tax Cut and Jobs Act" (H.R. 1) on the energy industry. The complete text of the alert is available here. Below is a brief summary of H.R. 1. ...more
On November 2nd, the House Ways and Means Committee released the much anticipated "Tax Cut and Jobs Act" (H.R. 1). If passed, this initial pass at widespread tax reform would trigger the most sweeping changes to the U.S. tax...more
In August 2007, Kentucky enacted the Incentives for Energy Independence Act (IEIA) program (KRS 154.27-010 through 154.27-090). As with any Kentucky administered tax incentive programs, the inducements under the IEIA are...more
Corporations have dramatically increased their purchases of renewable energy in recent years. This trend has shifted the traditional power purchase market away from reliance upon utilities, and presents a tremendous growth...more
The IRS recently issued Notice 2016-31, providing further guidance regarding the “beginning of construction” requirement for the production tax credit (PTC) under Section 45 of the Internal Revenue Code and the investment tax...more