Payments and the Solar Industry - Payments Pros: The Payments Law Podcast
The Inflation Reduction Act of 2022 (the "IRA")—President Biden's landmark climate change legislation—created or expanded tax credits for various renewable energy sources, including wind, solar, and hydropower, as well as for...more
Pressure from consumers, investors, and regulators to provide climate, environmental, and sustainability disclosures is increasing, but it is important for companies to ensure such disclosures are accurate, verifiable, and...more
Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of June 3, 2024 – June 7, 2024. June 3, 2024: The IRS released Internal Revenue Bulletin 2024-23, which...more
The Department of Treasury and the Internal Revenue Service issued final regulations on requirements for taxpayers selling clean energy tax credits....more
The United States Internal Revenue Service (“IRS”) issued Announcement 2024-19 titled: Federal Tax Treatment of Amounts Paid Toward the Purchase of Energy Efficient Property and Improvements Under Department of Energy...more
Guidance recently issued by the Department of the Treasury and the Internal Revenue Service (IRS) in proposed regulations (REG-117631-23) will (if held to be final) have a significant impact on green hydrogen projects in the...more
U.S. battery storage capacity is poised for a record year in 2024 with Texas and California continuing to lead the country in new additions, after installations reached a new record last quarter....more
Climate Corps Listening Sessions - The White House has announced a series of virtual listening sessions for the newly launched American Climate Corps to be held in January and February 2024. With a goal of recruiting...more
On Tuesday, November 28, the Federal Government released a Notice of Ways and Means Motion for the implementation of certain provisions of the November 2023 Fall Economic Statement and March 2023 Budget. On the same day, the...more
In this episode of Payments Pros, Josh McBeain welcomes his colleague Andrew Thurmond to discuss residential solar projects as well as the financing and payment options that are available for these types of projects. With...more
Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of July 17, 2023 – July 21, 2023....more
IRS Notice 2023-29 (the “Notice”) provides initial guidance on “energy community” tax credit bonuses. The Notice describes certain relevant rules and concepts that the Treasury and IRS intend to include in forthcoming...more
The Maryland General Assembly passed the Promoting Offshore Wind Energy Resources Act (POWER Act) on April 10, 2023, committing the state to develop 8.5 gigawatts (GW) of offshore wind by 2031. The POWER Act also vaults...more
Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of February 13, 2023 – February 17, 2023. ...more
Summary: In this 32-page, consolidated opinion, the Tax Court addresses deficiencies from disallowance of a 26 U.S.C. § 179D energy efficient building property deduction claimed by Edwards 4 Engineering, Inc. (Edwards), an S...more
On December 15, the White House added a new Guidebook to the Inflation Reduction Act to its clean energy webpage. The Guidebook is a valuable resource to help businesses, organizations, and individuals secure access to the...more
The Inflation Reduction Act of 2022, Public Law 117-169, created three new electric vehicle (EV) tax credits - - the clean vehicle tax credit (Section 30D) for consumers; - the commercial clean vehicle tax credit...more
The Inflation Reduction Act (the “IRA”) is a historic piece of legislation that includes approximately $369bn of funding for a number of strategies to reduce carbon emissions and combat climate change. Although it may be...more
On October 18, 2022, the Internal Revenue Service (IRS) announced the annual inflation adjustments for 2023 related to more than 60 tax provisions, with some increasing, some maintaining and some new additions to the list...more
On August 16, 2022, President Biden signed the Inflation Reduction Act of 2022 (the Act). The Act includes multiple tax benefits for hydrogen production, storage and utilization, summarized in the following King & Spalding...more
On September 21, New York Gov. Kathy Hochul announced the state’s sixth annual solicitation of large-scale renewable energy projects. Initial (Step One) eligibility applications are due Nov. 16 and competitive (Step Two) bid...more
Legislation aimed at expanding green energy construction projects is spreading throughout the United States. With it, prevailing wage mandates and project labor agreements tied to such projects are becoming more common....more
The Inflation Reduction Act (IRA) includes a significant expansion of U.S. electric vehicle (EV) tax credits. In contrast to the IRA’s extensions of other preexisting clean energy tax incentives, the IRA’s consumer EV tax...more
On July 27, 2022, Senate Majority Leader Chuck Schumer (D-NY) and Senator and Energy and Natural Resources Chair Joe Manchin (D-WV) announced an agreement on a proposed reconciliation package called the Inflation Reduction...more
Direct pay proposals contained in the proposed Build Back Better Act promise to establish a system that would allow renewable energy developers to elect to receive ITC and PTC tax credits as a refundable credit....more