On October 5, 2022, the Department of the Treasury released six requests for comments regarding certain clean energy tax incentives in the Inflation Reduction Act of 2022. For a summary of those tax incentives, click here.
The six requests for comments are as follows:
- Notice 2022-49- Addresses the following energy generation incentives:
- Section 45 Production Tax Credit for Electricity Produced from Certain Renewable Resources,
- Section 45U Zero-Emission Nuclear Production Tax Credit,
- Section 45Y Clean Electricity Production Tax Credit,
- Section 48 Energy Investment Tax Credit, and
- Section 48E Clean Electricity Investment Credit.
- Notice 2022-51- Addresses the following credit enhancements:
- Prevailing wage and apprenticeship requirements,
- Domestic content requirements, and
- Energy community requirements.
- Notice 2022-50- Address the new credit monetization options:
- Section 6417 direct payment and
- Section 6418 credit transfer.
- Notice 2022-47- Addresses the following manufacturing credits:
- Section 45X Advanced Manufacturing Production Credit and
- Section 48C Advanced Energy Project Credit.
- Notice 2022-46- Addresses the consumer vehicle credits:
- Notice 2022-48- Addresses the following incentives for homes/buildings:
- Section 25C Nonbusiness Energy Property Credit,
- Section 25D Residential Clean Energy Credit,
- Section 45L New Energy Efficient Home Credit, and
- Section 179D Energy Efficient Commercial Buildings Deduction.
The Notices request comments regarding specific areas identified by Treasury and the IRS, as well as general comments. Comments are requested “as soon as possible, ideally by November 4, 2022.” With respect to comments filed after November 4, 2022, the Treasury noted that consideration will be given to such comments as long as such consideration will not delay the issuance of guidance.
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