News & Analysis as of

Production Tax Credit Geothermal Energy

Foley & Lardner LLP

IRS Releases Long-Awaited Updates to Investment Tax Credit Regulations

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Late last week, the Internal Revenue Service (“IRS”) and Department of the Treasury released the long-awaited proposed regulations (the “Proposed Regulations”) relating to investment tax credits under Section 48 of the Code...more

Jones Day

Is Geothermal Energy Making a Comeback?

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Once considered a promising renewable energy source, steep drilling costs hampered geothermal energy development. The energy source, however, is now poised for a breakout and could play a critical role in the Biden...more

Venable LLP

Inflation Reduction Act: What You Need to Know

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​​​​​​​On August 16, President Biden signed into law the much-anticipated Inflation Reduction Act. The Act includes numerous clean energy, decarbonization, and climate-related provisions. ...more

Mayer Brown

UPDATED: IRS Releases 2022 Section 45 Production Tax Credit Amounts

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On April 14, 2022, the US Internal Revenue Service (IRS) published a notice that provides the inflation-adjustment factor and reference price for the calculation of renewable electricity production tax credits (PTCs) under...more

Pierce Atwood LLP

IRS Extends Production Tax Credit/Investment Tax Credit Safe Harbors

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On May 27, 2020, the IRS issued Notice 2020-41, which responds to industry-wide supply chain disruptions due to the COVID-19 pandemic by giving renewable energy developers additional time to complete their projects. Most...more

Mayer Brown

IRS Releases 2020 Section 45 Production Tax Credit Amounts

Mayer Brown on

On May 12, 2020, the US Internal Revenue Service (IRS) released a notice providing the inflation-adjustment factors and reference prices for the calculation of renewable electricity production tax credits (PTCs) under...more

Hogan Lovells

Congress' year-end funding bill included extensions of tax credits for renewable energy, including wind, biofuels, and others

Hogan Lovells on

In a rare display of bipartisanship, both houses of Congress and President Trump were able to come to agreement in the waning hours of the 2019 congressional session to extend government funding for fiscal year 2020. Included...more

Foley & Lardner LLP

Production Tax Credit Extended for Renewable Projects Beginning Construction in 2020

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On December 20, 2019, the President signed the Taxpayer Certainty and Disaster Tax Relief Act of 2019 (the “Act”), which extends the current production tax credit (PTC) for wind for an additional year. The Act extends the...more

Mayer Brown

IRS Releases 2019 Section 45 Production Tax Credit Amounts

Mayer Brown on

On June 6, 2019, the US Internal Revenue Service (IRS) published a notice providing the inflation-adjustment factors and reference prices for the calculation of renewable electricity production tax credits (PTCs) under...more

Mayer Brown

Wind PTC Increased from 2.3 Cents to 2.4 Cents per KwH

Mayer Brown on

On April 11, the IRS announced an inflation adjustment increase in the production tax credit (“PTC”) for power sold in 2017 that is generated by wind, closed-loop biomass, geothermal projects to 2.4 cents from the prior 2.3...more

Orrick, Herrington & Sutcliffe LLP

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

Perkins Coie

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

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

King & Spalding

Senate Finance Committee Approves Energy Tax Provisions—LNG Is A Winner

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On July 21, the Senate Finance Committee approved by a vote of 23 to 3 a bipartisan tax bill to renew for two years more than 50 expiring and expired tax provisions known as “tax extenders.” The provisions that are being...more

Allen Matkins

Renewable Energy Update - July 2015 #3

Allen Matkins on

Renewable Energy Focus - Senate committee backs PTC extension: ReNews - Jul 22: A U.S. Senate committee has voted to extend more than 50 tax policies, including production and investment tax credits that incentivize wind...more

Foley & Lardner LLP

Production Tax Credit Extended for Renewable Projects Beginning Construction in 2014

Foley & Lardner LLP on

On December 19, 2014, President Obama signed into law the Tax Increase Prevention Act of 2014 (H.R. 5771). H.R. 5771 includes a retroactive one-year extension of the section 45 renewable electricity production tax credit...more

Foley & Lardner LLP

IRS Releases New Guidance on Beginning of Construction

Foley & Lardner LLP on

The IRS recently released Notice 2014-46 (the Notice) which provides welcome guidance to tax equity investors and developers on the construction of wind, geothermal, biomass, landfill gas and certain hydropower and marine...more

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