Production Tax Credit Wind Power

News & Analysis as of

Tax Day Update: 2015 Inflation Adjustments and Prices for Energy Credits Released by IRS

Just in time for tax day – but 14 days behind the Congressional deadline – the IRS released the statutorily required calculations to determine the value of the Section 45 Production Tax Credit (“PTC”) credit amount in 2015,...more

U.S. Renewable Energy Financing And Regulatory Outlook 2015

Orrick and Clean Energy Pipeline have launched a series of reports dedicated to exploring investment opportunities and challenges in the global renewable energy sector. In the first issue, we analyzed the investment...more

IRS Extends Continuous Construction/Continuous Efforts Safe Harbors for Production Tax Credit/Investment Tax Credit Qualification

Production tax credits (“PTCs”) are available for wind, biomass, geothermal, landfill gas, trash, hydropower, and marine and hydrokinetic facilities, if construction of the facility began before January 1, 2015....more

Renewable Energy Update - January 2015 #2

Renewable Energy Focus - California Governor Brown calls for 50 percent renewables by 2030 - Greentech Media - Jan 5: California Governor Jerry Brown has upped the ante on the state’s green energy goals, calling...more

Production Tax Credit Extended for Renewable Projects Beginning Construction in 2014

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

Senate Passes PTC Extension for 2014

The Tax Increase Prevention Act of 2014, H.R. 5771, was passed by the Senate on December 16 and by the House on December 3. The President is expected to sign the bill in the coming days. ...more

Pre-election PTC Extension Update

With the election on Tuesday, the wind industry’s attention is particularly focused on the prospects for the extension of the production tax credit (PTC). There have been four interesting developments related to the extension...more

Joint Committee’s Report on Energy Tax Incentives Misses the Mark on Green Jobs

The Joint Committee on Taxation (JCT) on September 16 published a report analyzing federal energy tax incentives. The report is available below. The report is generally insightful; however, it has a misguided job-creation...more

IRS Releases New Guidance on Beginning of Construction

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

IRS Comments on its PTC Start of Construction Guidance

On August 20, the American Wind Energy Association (AWEA) held a webinar to discuss Internal Revenue Service (IRS) Notice 2014-46, which clarified the rules for wind projects to be grandfathered for production tax credit...more

IRS Finally Releases Clarifications to PTC “Start of Construction” Guidance

On Friday, the Internal Revenue Service (IRS) issued Notice 2014-46, which clarifies the rules for a wind project to be deemed to have started construction in 2013 as is necessary to be eligible for production tax credits...more

Renewable Energy Update -- May 2014 #2

Renewable Energy Focus - White House announces new action on solar energy: TIME - May 9 - The White House is announcing executive actions to advance clean energy on Friday, including $2 billion worth of upgrades to...more

Senate Finance Committee Tax Reform Proposal Streamlines Energy Tax Credits

On December 18, 2013, Senate Finance Committee Chairman Max Baucus (D-MT) released a proposal that would streamline energy tax incentives to make them more predictable and technology neutral. The proposal would consolidate...more

Baucus Proposes Reforms to Energy Tax Incentives

Senate Finance Committee Chairman Max Baucus (D-MT) released a proposal on December 18 that would streamline energy tax incentives to make them more predictable and technology-neutral. The proposal consolidates several...more

Baucus Post-2016 Proposal: No Change to PTC & ITC Reduced to 20 Percent

Today, the chairman of the Senate Finance Committee, Max Baucus (D-MT), released his proposal for energy tax incentives as part of overall tax reform. The proposal is thoughtful and merits serious consideration by the...more

IRS Issues Additional Guidance on When Construction Begins for Purposes of Production Tax Credit, Investment Tax Credit

The Internal Revenue Service (IRS) has issued additional guidance relating to when construction begins with respect to wind and other qualified facilities for purposes of the production tax credit and investment tax credit. ...more

IRS Clarifies Guidance on Beginning Construction of a Qualified Energy Facility for Production Tax Credit and Investment Tax...

A qualified facility is eligible to receive a renewable electricity production tax credit (PTC) or an energy investment tax credit (ITC) in lieu of the PTC if construction of the facility begins before January 1, 2014....more

IRS Releases New Guidance on Beginning of Construction - 23 September 2013

Production tax credits ("PTCs") are available for wind, biomass, geothermal, landfill gas, trash, hydropower, and marine and hydrokinetic facilities, if construction of the facility begins before January 1, 2014....more

New DTE Electric PPAs For Wind Energy

Two 20-year power purchase agreements (PPAs) between DTE Electric and Pheasant Run Wind, LLC and Pheasant Run Wind II, LLC received ex parte approval from the Michigan Public Service Commission (MPSC) on May 15, 2013. ...more

IRS Issues “Beginning Construction” Guidance for PTC and ITC

On April 15, 2013, the Internal Revenue Service issued anticipated guidance defining the new “beginning construction” milestone for Production Tax Credit and Investment Tax Credit eligible energy facilities....more

Renewable Energy Update -- January 9, 2013

In This Issue: Renewable Energy Focus - Biodiesel and wind tax incentives approved; U.S. Gauges Interest in New York Offshore Wind Projects; State panel approves offshore wind farm land survey; New York Renewables Push...more

Energy-Related Tax Provisions of the American Taxpayer Relief Act of 2012

On January 1, 2013, Congress passed the American Taxpayer Relief Act of 2012 (the “Act”). President Obama signed the Act into law on January 2, 2013. The Act contains multiple business tax provisions. The following is a...more

Washington Insight - Special Edition: Congress Steps Away From Fiscal Cliff

For months in Washington, and beyond, attention has been focused on the "fiscal cliff" -- the combination of the expiration of the Bush tax cuts and the looming budget cuts referred to as "sequestration." Negotiations led by...more

Energy & Clean Tech Connections: Your Law Firm Link to Industry News -- January 2013

In the January edition of Energy & Clean Tech Connections, we’ve gathered recent information from a wide variety of sources in an effort to keep you abreast of what’s new in the world of clean energy. We draw your attention...more

Fiscal Cliff Bill Extends PTC; Reenacts Bonus Depreciation

On January 1, 2013, Congress passed the American Taxpayer Relief Act of 2012 (the "Act") that extends and modifies the production tax credit (PTC) and reenacts bonus depreciation for property placed in service before January...more

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