News & Analysis as of

Investment Tax Credits Renewable Energy

Update on US Federal Tax Reform Proposals and Their Effect on the Renewable Energy Industry

by Shearman & Sterling LLP on

While tax reform has been a stated focus of the Trump administration and Congress, details remain elusive. The administration has recently reaffirmed its desire to enact comprehensive corporate and individual tax reform, but...more

Wind in the Sails of Offshore Wind Farms: Recent Developments in Incentives for Offshore Wind Generation

On May 11, 2017, Senators Edward J. Markey (D-Mass.) and Sheldon Whitehouse (D-R.I.) introduced the Offshore Wind Incentives for New Development Act or, simply, the Offshore WIND Act (here). The Offshore WIND Act would...more

Infocast Wind Power & Finance Investment Summit Soundbites

Below are soundbites from panelists at the Infocast Wind Power & Finance Investment Summit on February 28, 2017 in Rancho Bernardo, California.  The soundbites are organized by topic, rather than in chronological order, and...more

IRS Provides Safe Harbor for Solar Contracts with Federal Agencies

On January 19, 2017, the US Internal Revenue Service (IRS) released Revenue Procedure 2017-19 (the “Rev. Proc.”) providing a safe harbor for certain alternative energy sales contracts with federal agencies to be treated as...more

IRS Further Updates Beginning of Construction Guidance for Renewable Energy Tax Credits

On December 15, 2016, the Internal Revenue Service (IRS) issued Notice 2017-04, which updates prior guidance regarding the beginning of construction requirement for renewable energy tax credits under IRC sections 45 and 48. ...more

Treasury Guidance Clarifies and (Again) Expands Field of Renewable Energy Projects That May Qualify for the PTC or ITC

by K&L Gates LLP on

Notice 2017-04, issued on December 15, 2016, clarifies and expands the beginning of construction and continuity safe harbors applicable to certain alternative energy projects, including wind installations. Like Notice...more

IRS Issues Additional Guidance on Beginning of Construction Rules for Renewable Projects

by McDermott Will & Emery on

On December 15, 2016, the Internal Revenue Service released Notice 2017-04, which provides welcome guidance on how to meet the “beginning of construction” requirements for wind and other qualified facilities. There has been...more

IRS Updates “Beginning of Construction” Guidance

by Stoel Rives LLP on

The IRS today issued highly anticipated guidance updating the “beginning of construction” requirement for the production tax credit (PTC) under Section 45 of the Internal Revenue Code (the Code) and the investment tax credit...more

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

by Shearman & Sterling LLP on

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

by Allen Matkins on

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

by Bracewell LLP on

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

by Latham & Watkins LLP on

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

by Foley & Lardner LLP on

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)

by Foley & Lardner LLP on

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

by DLA Piper on

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

by Sullivan & Worcester on

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

by K&L Gates LLP on

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

by McDermott Will & Emery on

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

by Mintz Levin on

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

by Perkins Coie on

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

by McDermott Will & Emery on

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

by Latham & Watkins LLP on

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

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