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Tax Credits Investment Tax Credits Energy Tax Incentives

K&L Gates LLP

IRS Notice 2025-42: What Renewable Developers Need to Know on Beginning of Construction Rules

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On 15 August 2025 the Internal Revenue Service (IRS) released Notice 2025-42 (the Notice), which restricts the methods that developers of wind and solar projects can use to determine whether they have begun construction for...more

A&O Shearman

Highlights of the New Sections 45Y and 48E Wind and Solar Beginning-of-Construction Guidance

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On July 4, 2025, Public Law 119-21, commonly known as the One Big Beautiful Bill Act (the “OBBBA”), became law and enacted significant changes to various renewable energy incentives, including the clean electricity production...more

Cadwalader, Wickersham & Taft LLP

Are Energy Tax Credits Losing Power or Gaining Focus?

Enacted in August 2022, the Inflation Reduction Act (the “IRA”) expanded energy tax credits by increasing credit amounts, broadening eligibility beyond wind and solar, and allowing credits to be developed and sold....more

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

Offit Kurman

Navigating the New Construction Timing Rules for Wind and Solar Tax Credits

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The renewable energy sector faces significant regulatory changes following the enactment of the One Big Beautiful Bill Act (OBBBA) on July 4, 2025. Through IRS Notice 2025-42, issued under Executive Order 14315, the Treasury...more

White & Case LLP

New Law Changes IRA Tax Credits - Update

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This is an updated version of the alert published on July 4. President Trump signed H.R.1, commonly referred to as the "One Big Beautiful Bill Act" (the "Act") into law on July 4, 2025. Below are our summaries of 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

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

K&L Gates LLP

Navigating the One Big Beautiful Bill Act: Critical Updates to Clean Energy Credits

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President Donald J. Trump signed H.R. 1, the One Big Beautiful Bill Act (OBBBA), into law on 4 July 2025 in an afternoon signing ceremony at the White House (Pub. L. No. 119-21). Senate Majority Leader John Thune (R-SD)...more

Frost Brown Todd

One Big Beautiful Bill Act Cuts the Power: Phase‑Outs, Foreign‑Entity Restrictions, and Domestic Content in Clean‑Energy Credits

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On July 4, 2025, President Trump signed H.R. 1—dubbed the One Big Beautiful Bill Act (OBBBA)—enacting significant modifications to clean‑energy credits previously enacted under the Inflation Reduction Act of 2022. OBBBA...more

Winthrop & Weinstine, P.A.

Sweeping Budgetary and Tax Legislation Enacted, Impacting All Sectors

On July 3, 2025, the U.S. House of Representatives passed H.R.1, referred to as the “One Big Beautiful Bill Act” (“OBBBA”). The following day, President Trump signed the bill into law, marking a key milestone in his...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

Latham & Watkins LLP

One Big Beautiful Bill: New Law Disrupts Clean Energy Investment

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On July 4, 2025, President Trump signed into law the One Big Beautiful Bill Act (the OBBB), which significantly rolls back many of the core tax incentives that clean energy projects have relied on since the passage of the...more

Baker Donelson

One Big Beautiful Bill Act: Estate and Energy Tax Overhaul

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On July 3, 2025, Congress passed the "One Big Beautiful Bill Act" (the Act), which makes permanent certain provisions of 2017's Tax Cuts and Jobs Act (the 2017 TCJA) that would have expired this year and introduces...more

Husch Blackwell LLP

FEOC Restrictions on Energy Tax Credits: An Update

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On July 1, 2025, the U.S. Senate passed a version of the One Big Beautiful Bill Act that differed significantly from the version previously passed on May 22 by the U.S. House of Representatives as H.R. 1. Front of mind for...more

Husch Blackwell LLP

Energy Tax Credit Framework Undergoes Further Changes in Senate-Approved Version of OBBB Act

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On July 1, 2025, the U.S. Senate passed its version of The One Big Beautiful Bill (OBBB) Act, the massive budget bill that contains significant provisions affecting tax credits for renewable energy project development. After...more

White & Case LLP

Amendments to IRA Tax Credits in the Senate Budget Bill

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On July 1, 2025, the Senate passed (by a vote of 51-50) its version of the budget reconciliation bill (H.R. 1, the "One Big Beautiful Bill Act") containing numerous tax reform provisions. Below are our summaries of the...more

Husch Blackwell LLP

New Bill Language Released Over the Weekend Contains Entirely New Excise Tax on Wind and Solar Projects

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Over the weekend, the Senate released a revised draft of the One Big Beautiful Bill Act, containing important revisions to clean energy tax credits and that, if passed, will impact the entire renewables industry. With this...more

Mintz - Tax Viewpoints

Senate Finance Committee’s Take on the One Big Beautiful Bill Act

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Following our prior alert on the House Ways & Means Committee version of the One Big Beautiful Bill Act (“OBBBA”), the House passed its version of the OBBBA (“House Bill”) on May 22, 2025, and on June 17, 2025 the Senate...more

Cadwalader, Wickersham & Taft LLP

Senate Bill Could Keep the Lights On for Energy Tax Credits

Enacted in August 2022, the Inflation Reduction Act (the “IRA”) expanded energy tax credits by increasing credit amounts across the board and broadening eligibility criteria to include new technologies....more

Hogan Lovells

Senate Finance Committee revises House energy tax provisions in One Big Beautiful Bill

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On June 16 the Senate Finance Committee (SFC) released its revised text to the House-passed One Big Beautiful Bill (OBBB). While the SFC version largely follows the House approach in repealing clean vehicle and residential...more

Sullivan & Worcester

Senate Finance Changes to REIT-Related Provisions in the “One Big Beautiful Bill Act”

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On June 16, 2025, the U.S. Senate Finance Committee released its version (the “Senate Bill”) of the “One Big Beautiful Bill Act” passed by the U.S. House of Representatives on May 22, 2025 (the "House Bill”). This alert...more

Vinson & Elkins LLP

Updates to IRA Tax Benefits Found in Senate Finance Committee Draft of 2025 Reconciliation Bill

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In the afternoon of June 16, 2025, the Senate Finance Committee (“SFC”) released its proposed legislative text of the tax title for the “One Big Beautiful Bill,” H.R. Con. Res. 14, 119th Cong. (2025) (the “Reconciliation...more

Husch Blackwell LLP

Senate Finance Committee Revises Energy Tax Credit Framework in Proposed Legislation

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On June 16, 2025, the Senate Finance Committee released its version of the “One, Big Beautiful Bill” (OBBB) that would create a steep phase-out of renewable energy tax credits—notably, renewable energy companies would have to...more

Davis Wright Tremaine LLP

UPDATE: Senate Joins House in Targeting Solar and Wind—But Pushes Back on Storage, Geothermal, and Hydropower

On June 16, the Senate Finance Committee released its version of the tax provisions of the Reconciliation Bill. Like the House version (H.R. 1) passed on May 22, the Senate version targets solar and wind tax incentives for...more

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