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Renewable Energy Department of Energy (DOE) Tax Credits

Jones Day

Taxing Tangle: U.S. IRS Releases Guidance for Clean Hydrogen Production Tax Credit

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The U.S. Internal Revenue Service ("IRS") has released proposed regulations regarding the Clean Hydrogen Production Tax Credit introduced in the Inflation Reduction Act of 2022 ("IRA"). The proposed regulations provide more...more

Holland & Knight LLP

IRS Releases Long-Awaited Section 45Q LCA Procedures

Holland & Knight LLP on

The IRS on July 24, 2024, released Notice 2024-60, which provides Section 45Q guidance for utilization of carbon dioxide and other carbon oxides. The Notice addresses the information that must be included in the required life...more

Haynsworth Sinkler Boyd, P.A.

Green Energy Manufacturing Boost: Navigating the 48C Credit Application Process

The Qualifying Advanced Energy Project Credit (48C) was created by the American Recovery and Reinvestment Act of 2009 to focus on green energy manufacturing and has been brought back with the Inflation Reduction Act (IRA)....more

Wilson Sonsini Goodrich & Rosati

Clean Energy and Climate Solutions Resources Roundup - May 2024

Wilson Sonsini is pleased to share the latest issue of Clean Energy and Climate Solutions Resources Roundup. In this issue, we cover...more

Wilson Sonsini Goodrich & Rosati

DOE and IRS Set to Open Second and Potentially Final Round of Section 48C Qualifying Advanced Energy Project Credit Applications

On April 29, 2024, pursuant to Notice 2024-36, the Department of Energy (DOE) and Internal Revenue Service (IRS) announced that they plan to open the second, and potentially final, round of Section 48C(e) Qualifying Advanced...more

Wilson Sonsini Goodrich & Rosati

Treasury and IRS Propose Supplemental Notice Regarding Clean Hydrogen Production Tax Credit Regulations

On April 10, 2024, the U.S. Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) released a notice of proposed rulemaking (the Supplemental Regulations) to supplement the Clean Hydrogen Production Tax...more

Holland & Knight LLP

Treasury Department, IRS Issue Additional Section 45V Clean Hydrogen PTC Guidance

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The U.S. Department of the Treasury Department and IRS on April 10, 2024, issued a supplemental notice of proposed rulemaking (NPRM) under the Internal Revenue Code's Section 45V clean hydrogen production tax credit (PTC)....more

Allen Matkins

Renewable Energy Update 4.08.24

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The California Independent System Operator (CAISO) is proposing $6.1 billion in transmission projects, primarily to help deliver offshore wind to customers, according to a draft transmission plan released on April 1....more

Allen Matkins

Renewable Energy Update 3.21.24

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The first commercial-scale offshore wind farm in the United States is officially open, a long-awaited moment that helps pave the way for a succession of large wind farms. Danish wind energy developer Ørsted and the utility...more

A&O Shearman

Takeaways from Treasury's proposed regulations on U.S. tax credits for clean hydrogen production

A&O Shearman on

The U.S. Treasury Department (Treasury) and the Internal Revenue Service (the IRS) issued proposed regulations on December 22, 2023, providing initial guidance on the clean hydrogen tax credit under section 45V (the 45V...more

Bracewell LLP

Treasury and IRS Issue Proposed Regulations With Respect to Clean Hydrogen Credits Under Sections 45V and 48 of the Internal...

Bracewell LLP on

On December 22, 2023, the Department of the Treasury and the Internal Revenue Service (IRS) released a notice of proposed rulemaking and notice of public hearing containing proposed regulations (Proposed Regulations) with...more

Wilson Sonsini Goodrich & Rosati

Treasury and IRS Release Proposed Regulations on Section 45V Hydrogen Production Tax Credit

On December 22, 2023, the U.S. Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) issued a notice of proposed rulemaking (the Proposed Regulations) regarding the Clean Hydrogen Production credit...more

Troutman Pepper

IRS Issues Proposed Regulations on Clean Hydrogen Tax Credits

Troutman Pepper on

The IRS and the Treasury Department issued proposed regulations on December 26, 2023 (Proposed Regulations), providing guidance on the clean hydrogen production tax credit under Section 45V (Hydrogen PTC) and the investment...more

Pillsbury Winthrop Shaw Pittman LLP

Treasury Department and IRS Issue Proposed Regulations on the Clean Hydrogen Production Credit under Section 45V of the Internal...

The proposed regulations go beyond the use of the GREET model by requiring the use of “energy attribute certificates” (EACs) to prove eligibility for the credit under section 45V of the Internal Revenue Code (IRC). The use of...more

Cozen O'Connor

IRS Proposes Helpful Rules for Energy Tax Credits

Cozen O'Connor on

On November 22, 2023, the Internal Revenue Service published proposed regulations concerning Sections 48, 6417, and 6418. These proposed rules would affect the conditions for claiming energy credits, the amount of energy...more

McGuireWoods LLP

30-Day Initial Application Window for Low-Income Communities Bonus Credit Fast Approaching

McGuireWoods LLP on

On Oct. 19, 2023, the Department of Energy began accepting applications for all categories of the Low-Income Communities Bonus Credit Program for small-scale wind and solar projects....more

Akerman LLP

October 19 – First Day to Submit Applications to the Low-Income Community Bonus Tax Credit Program

Akerman LLP on

The DOE Portal for submitting applications to the "Low-Income Communities Bonus Credit Program" for all four facility categories opens on October 19, 2023, at 9:00 am ET. All applications received by November 18 at midnight...more

Allen Matkins

Renewable Energy Update 8.18.23

Allen Matkins on

The U.S. Department of Defense (DoD) has approved Floventis Energy for the development and operation of CADEMO, the first floating offshore wind farm with 60 MW of capacity, to be located off the California coast near the...more

DarrowEverett LLP

What IRS’s Low-Income Adder Guidance Means For Renewables Projects

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The Inflation Reduction Act of 2022 (the “Act”) breathed new life into the tax scheme for renewable energy projects, creating a new base tax credit with a series of adders that can significantly increase viability of projects...more

Lowndes

Applications for Low-Income Communities Bonus Tax Credits to Open in Early Fall

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Last year’s Inflation Reduction Act created the Low-Income Communities Bonus Credit Program. This program provides additional energy tax credits on top of the existing 30% investment tax credit. According to Section 48(e) of...more

King & Spalding

Field Guide to Clean Hydrogen

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Hydrogen is a key ingredient in any country’s future energy plans. In the United States, the hydrogen sector is on the launch pad, ready for lift-off. However, its trajectory hinges on a critical question: what criteria...more

King & Spalding

U.S. DOE Releases Report on Clean Hydrogen Strategy and Roadmap

King & Spalding on

The United States recently took another important step in implementing a comprehensive strategy to advance the production, processing, delivery, storage, and use of clean hydrogen. On June 5, 2023, the Biden-Harris...more

Womble Bond Dickinson

Advanced Energy Project Credit Concept Paper Applications Are Now Open

Womble Bond Dickinson on

In August 2022, President Biden signed the Inflation Reduction Act (IRA). One of the most significant manufacturing incentives bolstered by the IRA is the Advanced Energy Project Credit (Section 48C), which received $10...more

BCLP

Inflation reduction act expands support for nuclear power plants

BCLP on

The Inflation Reduction Act (“IRA”) created new incentives for the generation of electricity from nuclear power plants, supplementing incentive provisions that are currently in place. The primary changes are (i) the adoption...more

King & Spalding

IRS Publishes Guidance on Section 48C Advanced Energy Project Tax Credit

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On May 31, 2023, the IRS released Notice 2023-44 (the “Notice”) providing additional guidance on the advanced energy project tax credit (Section 48C), effectively reintroduced by the Inflation Reduction Act of 2022 (“IRA”). ...more

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