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NREL Analyzes Production Tax Credit Extension Implications for U.S. Manufacturing

The National Renewable Energy Laboratory (NREL), which is a component of the U.S. Department of Energy, has published a report analyzing the implications of the extension of the production tax credit (PTC) for U.S....more

Senate Finance Committee Passes Bill to Extend Certain Lapsed Tax Breaks

The Senate Finance Committee passed the Expiring Provisions Improvement Reform and Efficiency Act (EXPIRE Act) on April 3, 2014. The legislation would renew through 2015 more than 50 tax incentives that either have lapsed or...more

Developers Turn to Tax Opinion Insurance to Solve the “Starting Physical Work of a Significant Nature” PTC Eligibility Issue

Industry reports suggest that three developers have purchased tax opinion insurance to provide financial assurance to tax equity investors that their projects will be production tax credit (“PTC”) eligible. Use of this...more

Senate Finance Committee Passes PTC Extension as Part of Tax Extenders

On April 3, the Senate Finance Committee passed a modified extenders package that includes a two-year extension of the renewable energy production tax credit (PTC) under section 45 of the Internal Revenue Code as well as an...more

PTC Extension Added to Tax Extenders

A modified extenders package was released today that includes a two-year extension of the renewable energy production tax credit (PTC) under section 45 of the Internal Revenue Code as well as an extension of the option to...more

Wyden’s Extenders Bill Due March 31 - PTC Advocates Muster for the Fight

Senator Wyden (D-OR), chairman of the Senate Finance Committee, stated that he will release his “extenders” bill on March 31 and that the included provisions will be renewed through the end of 2015. Senator Rockefeller...more

Senate Finance Committee Tax Reform Proposal Streamlines Energy Tax Credits

On December 18, 2013, Senate Finance Committee Chairman Max Baucus (D-MT) released a proposal that would streamline energy tax incentives to make them more predictable and technology neutral. The proposal would consolidate...more

Sweeping Overhaul of Federal Energy Tax Credits Is Unveiled

This week, Senator Max Baucus, the outgoing Chairman of the Senate Finance Committee who has been developing a comprehensive overhaul and simplification of the federal income tax, introduced a bill that would scrap 42...more

Senator Baucus Proposes New Regime for Energy Tax Incentives

On December 18, Senate Finance Committee Chairman Max Baucus, D-Mont., released a discussion draft of legislation that aims to reform U.S. energy tax incentives. The proposed energy tax incentives are a simpler set of...more

Offshore Wind Marches On: Is Momentum Starting To Build?

Those of us with an interest in renewable energy have long wondered if offshore wind would ever reach its promise. The knots into which Cape Wind has been tied provide an object lesson – and an abject lesson – in how not to...more

PA Tax Law News: December 2013 -- Sales Tax - Mine Site Preparation

On November 15th, the Pennsylvania Department of Revenue updated and reissued Sales and Use Tax Bulletin 2012-01, addressing sales and use tax issues with respect to drilling site preparation in the Marcellus Shale. As...more

Tax Misstatements in SolarCity’s Response to Critical Barron’s Article

Barron’s in August of this year published an article critical of SolarCity’s use of tax credits and grants for its solar projects. That article led Senator Sessions to send a harsh letter with a number of pointed questions to...more

Washington Energy Update - August/September 2013

In This Issue: - DOE Announces Fourth Authorization for LNG Exports to Non-FTA Nations. Does This Mean Full Steam Ahead? - FERC Addresses ISO-NE Capacity Supply Obligations, Walks a Fine Line Between Generator...more

IRS Clarifies Guidance for Determining When Construction Has Begun for the Production Tax Credit and Investment Tax Credit

On September 20, 2013, the IRS released Notice 2013-60 (the “Notice”), clarifying the requirements that must be satisfied in order for certain renewable energy facilities to qualify for the Production Tax Credit (“PTC”) and...more

New Beginning Construction Guidance Notice 2013-60

Earlier this year, the Internal Revenue Service (the “IRS”) published Notice 2013-29, providing guidance on what it means to “begin construction” for purposes of the recent extension of the 2.3 cent-per-kilowatt-hour...more

IRS Issues Additional Guidance on When Construction Begins for Purposes of Production Tax Credit, Investment Tax Credit

The Internal Revenue Service (IRS) has issued additional guidance relating to when construction begins with respect to wind and other qualified facilities for purposes of the production tax credit and investment tax credit. ...more

Energy Law Alert: IRS Releases Notice 2013-60 With Additional Guidance For PTC/ITC Qualification

Late in the day on September 24, the IRS released a formal Notice addressing the Begun Construction requirements to qualify for the Production Tax Credit and Investment Tax Credit. Notice 2013-60 clarifies an earlier Notice...more

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

IRS Clarifies Guidance on Beginning Construction of a Qualified Energy Facility for Production Tax Credit and Investment Tax...

A qualified facility is eligible to receive a renewable electricity production tax credit (PTC) or an energy investment tax credit (ITC) in lieu of the PTC if construction of the facility begins before January 1, 2014....more

IRS Notice 2013-60 Clarifies Rules on Beginning of Construction

On September 20, 2013, the U.S. Department of the Treasury (“Treasury”) released Notice 2013-60, which clarifies in important ways the eligibility rules applicable to the investment tax credit (“ITC”) and production tax...more

IRS Issues Notice Clarifying Earlier Guidance on "Beginning of Construction" Requirement for PTC and ITC Purposes

On September 20, 2013, the IRS released Notice 2013-60, which clarified Notice 2013-29. Each Notice addresses the requirement that construction of a qualified facility must begin before January 1, 2014, in order to be...more

IRS Updates Renewable Energy Tax Credit Beginning of Construction Guidance

On September 20, 2013, the Internal Revenue Service (IRS) issued Notice 2013-60, which provides additional guidance that will help developers and purchasers of renewable energy facilities meet the beginning of construction...more

IRS Releases New Guidance on Beginning of Construction - 23 September 2013

Production tax credits ("PTCs") are available for wind, biomass, geothermal, landfill gas, trash, hydropower, and marine and hydrokinetic facilities, if construction of the facility begins before January 1, 2014....more

IRS Clarifies “Begun Construction” Guidance for PTC and ITC Eligibility (Notice 2013-29)

On September 20, 2013, the IRS released Notice 2013-60, which clarifies the IRS’s original guidance regarding the eligibility requirements for the production tax credit (PTC) and investment tax credit (ITC) for certain...more

IRS Provides Helpful Clarification to PTC “Start of Construction” Rules

On September 20th, the IRS in Notice 2013-60 clarified three critical issues in its guidance as to whether a wind project (or other type production tax credit (PTC) eligible project) is considered to have “started...more

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