News & Analysis as of

Tax Credits Internal Revenue Code (IRC) Renewable Energy

Flaster Greenberg PC

IRS Issues New Guidance For Renewable Energy Tax Credits

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The IRS continues to issue guidelines regarding the tax credit provisions of Sections 45Y and 48E of the Internal Revenue Code, as amended (IRC). The latest notice was issued as Notice 2025-42 on Aug. 15, 2025 (Notice)...more

Pierce Atwood LLP

IRS Issues New Beginning of Construction Guidance for Solar and Wind Facilities

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On August 15, 2025, the Internal Revenue Service (IRS) issued Notice 2025-42 to address the beginning of construction (BOC) requirements for solar and wind projects under sections 45Y and 48E of the Internal Revenue Code...more

DLA Piper

IRS Releases Guidance on Wind and Solar Facility Tax Credits: Key Takeaways

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The US Department of the Treasury and the Internal Revenue Service (IRS) recently released Notice 2025-42 to implement Executive Order (EO) 14315. The Notice, issued on August 15, 2025, provides guidance on when construction...more

Jones Day

New "Beginning of Construction" Guidelines Issued for Wind and Solar Tax Credits

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The Internal Revenue Service ("IRS") has issued Notice 2025-42 to implement the One Big Beautiful Bill Act ("OBBBA") mandate to phase out the clean electricity production tax credit (§ 45Y) and investment tax credit (§ 48E)...more

Baker Botts L.L.P.

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

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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

Holland & Knight LLP

IRS Releases New Beginning of Construction Rules for Clean Energy Tax Credits

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The IRS on Aug. 15, 2025, released Notice 2025-42, which provides new guidance on how taxpayers can establish that they have begun construction of a wind or solar facility for purposes of determining whether such facility is...more

McGuireWoods LLP

IRS Notice 2025-42 Leaves Beginning of Construction Guidance for Wind and Solar Mostly Unchanged, But Limits 5% Safe Harbor to...

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On Aug. 15, 2025, the U.S. Internal Revenue Service issued Notice 2025-42 addressing the beginning of construction for wind and solar facilities under Section 45Y and 48E of the Internal Revenue Code of 1986, as amended. The...more

Stoel Rives LLP

IRS Issues Guidance Regarding Beginning of Construction Requirement for PTC and ITC

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The IRS today issued guidance regarding the “beginning of construction” requirement as it relates to the clean electricity production tax credit (PTC) under Internal Revenue Code Section 45Y and the clean electricity...more

BakerHostetler

Analysis of Renewable Energy Credit Amendments and Changes Under the 2025 Tax Legislation

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There is a possibility of one or more additional reconciliation bills during late 2025 and 2026 and therefore further opportunities for enactment of additional provisions, as well as changes and improvements to the...more

Schwabe, Williamson & Wyatt PC

An Overview of Tech-Neutral Energy Tax Credits for Energy Project ‎Developers

The U.S. Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) have published final regulations for the Clean Electricity Investment and Production Tax Credits, also known as technology-neutral energy...more

Paul Hastings LLP

One Big Beautiful Bill Act — A Private Equity Perspective

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On July 4, President Donald Trump signed into law the One Big Beautiful Bill Act (OBBBA). This alert summarizes the key changes under the OBBBA relevant to private equity sponsors and their investors, as well as some of the...more

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

McCarter & English, LLP

One Big Beautiful Bill Act Tax Law Updates—Energy Sector

On July 4, 2025, President Donald Trump signed into law the One Big Beautiful Bill Act (OBBBA) (P.L. 119-21), which includes a number of tax law changes that directly impact the energy industry. A significant number of the...more

Mayer Brown

House Enacts the Senate Legislative Text of the One Big Beautiful Bill Act

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On July 3, 2025, the House approved the Senate’s legislative text (the “Senate Legislative Version”) for the budget reconciliation bill (H.R. 1, the “One Big Beautiful Bill Act”) without any changes. Thus, the final...more

Foley & Lardner LLP

ITC and PTC Changes Under the Big Beautiful Bill Act

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President Trump last week signed into law the One Big Beautiful Bill Act (the “Act”). The Act made a number of changes to the clean electricity production credit under Section 45Y of the Internal Revenue Code (the “PTC”), the...more

Akin Gump Strauss Hauer & Feld LLP

Significant Cuts to IRA Clean Energy Tax Credits Included in Enacted Reconciliation Bill

President Trump signed the “One, Big, Beautiful Bill Act” (the “OBBB”) into law on July 4, 2025. Congress passed the legislation using the budget reconciliation process to avoid the 60-vote Senate filibuster. In addition to...more

McGuireWoods LLP

EO Directs Treasury to Issue Guidance on Beginning of Construction, BBB FEOC Restrictions

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On July 7, 2025, President Donald Trump issued an executive order titled “Ending Market Distorting Subsidies for Unreliable, Foreign Controlled Energy Sources.” The EO directs the U.S. Department of the Treasury to issue new...more

Baker Botts L.L.P.

The "One Big Beautiful Bill Act" Substantially Alters Clean Energy Tax Landscape

Baker Botts L.L.P. on

On July 4, 2025, the legislation commonly known as the "One Big Beautiful Bill Act" (the “BBBA”) was enacted. The BBBA makes significant changes to the tax credits available under the Inflation Reduction Act of 2022 (the...more

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

Foley & Lardner LLP

What’s the Future for Renewable Energy Tax Credits in Congress?

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The One Big Beautiful Bill Act (OBBB) has a significant impact on the renewable energy sector, particularly with changes in the phase-out schedules for wind and solar projects under Section 45Y and 48E, as well as the nuances...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

Pierce Atwood LLP

Congress Phases Out Energy Tax Credits

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On July 3, 2025, Congress approved a version of the “One Big Beautiful Bill Act” (the Bill), which significantly impacts the energy tax credits enacted under the Inflation Reduction Act of 2022 (IRA). President Trump held a...more

Pillsbury Winthrop Shaw Pittman LLP

Congress Sends Big, Beautiful Bill for President’s Signature: Status of Clean Energy Tax Credits

Wind and solar projects placed in service after 2027 would not be eligible for the clean electricity production or investment credit unless construction starts within one year of the date of enactment of the legislation....more

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