Investment Tax Credits Renewable Energy

News & Analysis as of

Early Views on the US Energy and Infrastructure Sectors Under a Trump Administration

Energy and infrastructure policy was as at the forefront of the presidential election discussion and has continued to be highlighted as a focus for the Trump administration. Here, we take an early look at how a Trump...more

Renewable Energy Update - November 2016 #2

Renewable Energy Focus - New solar, wind competitive leasing program to start for U.S. public lands - Renewable Energy World - Nov 15 - The Bureau of Land Management (BLM) has finalized a rule that...more

Post-Election Update 2016

The 2016 election results have significant implications for companies across a wide range of industry sectors. From environmental policy to financial services to tax reform, President-elect Trump has committed to sweeping...more

1603 Cash Grant Applications Underpaid

On October 31, 2016, the Federal Court of Claims ruled that the U.S. Department of the Treasury underpaid 1603 cash grant applications made in respect of the Alta Wind Energy Center by approximately $206 million. The...more

Alta Wind Wins Cash Grant Dispute in Court of Federal Claims – Awarded US$206 Million

Favorable decision clarifies the value of cash grants and investment tax credits for renewable energy projects. A large wind developer won a significant victory in the Court of Federal Claims on October 28 in a case that...more

IRS Revokes Favorable PLR Concerning Ability of Tribe to Pass ITCs to Lessee in Master-Tenant Structure

In recently released Private Letter Ruling 2016-40-010 (the new ruling), the IRS prospectively revoked PLR 2013-10-001 (the original ruling), concluding that a Native American tribe may not elect to pass investment tax...more

IRS Issues Proposed Rules on Income Inclusion under Section 50(d)(5)

The IRS just published long-awaited temporary regulations under section 1.50-1T governing the section 50(d)(5) income inclusion rules. These rules apply to lessees of investment credit property when the lessor elects to treat...more

IRS Issues Further Guidance on “Start of Construction” Requirement for Renewable Energy Tax Credits, Including Continuity...

On May 5, 2016, the IRS released Notice 2016-31, which provides additional guidance on the “start of construction” requirements for the production tax credit (PTC) and investment tax credit (ITC) in lieu of the PTC. Notice...more

IRS modifies and extends continuity safe harbor, clarifies other guidance for production tax credit eligibility

The IRS has released Notice 2016-31, which extends and modifies the “continuity safe harbor” for purposes of the “begun construction” requirement applicable to the renewable electricity production tax credit (PTC) under §45...more

U.S. Offshore Wind: Mid-Year Update

Several speakers at the recent American Wind Energy Association (AWEA) annual conference in New Orleans lauded the positive impact of Congress's extensions of the production tax credit (PTC) and investment tax credit (ITC) in...more

New Treasury Guidance Significantly Expands Field of Renewable Energy Projects That May Qualify for the PTC or ITC

On May 5, the U.S. Treasury Department released Notice 2016-31 to address certain changes made to the Production Tax Credit (“PTC”) and Investment Tax Credit (“ITC”) in the Protecting Americans from Tax Hikes (“PATH”) Act of...more

IRS Revises Recent Begin Construction Guidance

On May 18, 2016, the Internal Revenue Service (IRS) revised Notice 2016-31 (Notice), its recent guidance on meeting the beginning of construction requirements for wind and other qualified facilities (including biomass,...more

Renewable Energy Tax Credits: Recent IRS Notice Favorable to the Renewable Energy Industry

On May 5, 2016, the IRS released new guidance regarding the renewable energy production tax credit (“PTC”) and energy investment tax credit (“ITC”) which most in the renewable energy industry will find favorable....more

Renewable Energy Tax Credits: Recent IRS Notice Favorable to the Renewable Energy Industry

On May 5, 2016, the IRS released new guidance regarding the renewable energy production tax credit (“PTC”) and energy investment tax credit (“ITC”) which most in the renewable energy industry will find favorable. ...more

New Production Tax Credit “Beginning of Construction” Advice From the IRS

The IRS recently issued Notice 2016-31, providing further guidance regarding the “beginning of construction” requirement for the production tax credit (PTC) under Section 45 of the Internal Revenue Code and the investment tax...more

IRS Issues Guidance on Beginning of Construction Rules for Renewable Projects

On May 5, 2016, the Internal Revenue Service (IRS) issued Notice 2016-31, providing guidance on meeting the beginning of construction requirements for wind and other qualified facilities (including biomass, geothermal,...more

IRS Issues Additional Guidance on “Begun Construction” Requirement for Wind Energy Credits

Latest guidance extends “continuity safe harbor” to four years and includes other taxpayer-friendly modifications and clarifications to existing guidance. On May 5, 2016, the Internal Revenue Service (IRS) issued...more

"IRS Guidance Clarifies 'Begun Construction' Standard for Renewable Electricity Production Credit Property"

The Internal Revenue Service (IRS) has released welcome new guidance with respect to renewable electricity production and energy investment tax credits. A notice issued on May 5, 2016, reflects changes to the production tax...more

U.S. Solar Installations Reach 1 Million

Last week the Solar Energy Industries Association (SEIA) and George Washington University (GWU) issued a report estimating that the United States has reached 1 million solar installations and will surpass 2 million...more

IRS Issues New Notice Extending Beginning of Construction Safe Harbor

On May 5, 2016, the IRS issued Notice 2016-31 (the “Notice”) which revises previous guidance on satisfying the “beginning of construction” test in order to take advantage of the section 45 renewable electricity production tax...more

Energy & Environment Update - March 2016 #3

Energy & Climate Debate: The Senate and the House of Representatives are both on Spring Recess, with the Senate returning on April 4 and the House scheduled to return on April 12. Before breaking for recess, the...more

Question and Answer from the Tax Equity Structuring, Financial Modeling and HLBV Accounting Seminar

The tax equity investor invests to own only a portion of the production tax credits (PTCs) up front, since there is an unknown of the actual production levels of the wind farm. What does the project company do with the...more

President Obama Signs Consolidated Appropriations Act

Renewable Energy Industry Seeks Additional Energy Credit Clarifications - On December 18, 2015, President Barack Obama signed into law the Consolidated Appropriations Act, 2016 (H.R. 2029) (the Act). The Act includes...more

Recent Developments Affecting Property Assessed Clean Energy (PACE) Loans

New Jersey Governor’s Conditional Veto Restricts New Jersey PACE, Florida’s Supreme Court Expands State’s PACE Market, Congress Extends the Federal Investment Tax Credit and States Reduce Effectiveness of Net-Metering...more

Federal tax credits drive renewable power, CO2 reduction

A report by the U.S. Energy Department's National Renewable Energy Laboratory found that recent extensions to tax credits for wind and solar energy will drive a net peak increase of 48-53 gigawatts in installed renewable...more

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