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Renewable Energy Production Tax Credit Energy Projects

ASKramer Law

Energy Tax Credits for a New World Part VII: Low-Income Communities Bonus Credits

ASKramer Law on

What is the Low-Income Communities Bonus Credit? The Low-Income Communities Bonus Credit available through the Inflation Reduction Act of 2022 (IRA) is designed to increase the siting of, and access to renewable energy...more

Pierce Atwood LLP

Will Treasury Use Energy Tax Credits to Assist PFAS-Impacted Communities?

Pierce Atwood LLP on

Proposed tax regulations to be released this year may clarify whether agricultural land contaminated with per- and polyfluoroalkyl substances (PFAS) qualify for a federal tax credit that would incentivize renewable energy...more

ASKramer Law

Energy Tax Credits For A New World Part V: Domestic Content Bonus Credits

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What is the purpose of the Domestic Content Bonus Credit? The Inflation Reduction Act (IRA) introduced the Domestic Content Bonus Credit to provide an additional credit amount to taxpayers that meet its requirements. The...more

Cadwalader, Wickersham & Taft LLP

Energy Tax Credit Sales Stay Fully Charged Despite Uncertain Road Ahead

The Inflation Reduction Act of 2022 (the “IRA”) allows firms to develop and sell clean energy tax credits.  Now that most of the key guidance has been finalized, here is everything you need to know about energy tax credit...more

ASKramer Law

Energy Tax Credits for a New World Part II: Production Tax Credits and Investment Tax Credits: The Old and the New

ASKramer Law on

What is a Production Tax Credit (PTC)? A Production Tax Credit (PTC) is a per kilowatt-hour (kWh) tax credit for electricity generated by solar and other qualifying clean technologies for the first 10 years of a system’s...more

Holland & Knight LLP

Eyes on Energy Tax Update: Second Quarter 2024

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Eyes on Energy Tax Update is a regular publication of the Holland & Knight Renewable and Alternative Energy Tax Team that provides highlights of important developments. The Renewable and Alternative Energy Tax Team also...more

Vinson & Elkins LLP

Energy Makers Find Limited Answers in Bonus Tax Credit Guidance

Vinson & Elkins LLP on

The domestic content bonus is one of the Inflation Reduction Act’s most powerful tax incentives, but so far is proving to be one of the most difficult to earn. The Treasury Department and IRS released Notice...more

Holland & Knight LLP

IRS Releases 2024 Section 45 Production Tax Credit Amounts

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The IRS on July 11, 2024, released 2024 production tax credit (PTC) amounts under Section 45 of the Internal Revenue Code. The guidance provides that: Section 45 allows a renewable energy PTC for generating electricity from...more

Freeman Law

Does the Inflation Reduction Act Give Rise to a New Tax Strategy Called Chaining?

Freeman Law on

Historical and New Energy Credits Indicate “Potential” New Tax Strategy - Historically, the Code provided two types of credits for renewable energy projects. The first being the production tax credit (PTC) and the other...more

Locke Lord LLP

Locke Lord Deep Dive: Treasury Issues Final Regulations Providing Guidance on Transfer of Certain Credits Under the Inflation...

Locke Lord LLP on

On April 30, 2024, the Internal Revenue Service (“IRS”) and the U.S. Treasury Department (“Treasury”) published Final Treasury Regulations (T.D. 9993) (the “Final Regulations”) providing guidance relating to the election...more

Katten Muchin Rosenman LLP

Transferability of Renewable Energy Tax Credits: Still Gathering Steam

The Inflation Reduction Act of 2022 provides for the transferability of certain renewable energy tax credits, including the investment tax credit (ITC). Although transferability deal volume has certainly increased in the last...more

Cozen O'Connor

An Energy/Production Credit Boost – IRS Issues Notice With Safe Harbor for Domestic Content

Cozen O'Connor on

The Internal Revenue Service (IRS) issued Notice 2024-41 on May 16, 2024. Notice 2024-41 guides taxpayers on qualifying for increased renewable energy tax credits. To qualify for this credit increase, a taxpayer must satisfy...more

Orrick, Herrington & Sutcliffe LLP

The Domestic Content Bonus Credit for Renewable Energy Projects: IRS Updates ‘DC Adder’ and Adds Elective Safe Harbor Guidance

The U.S. Department of the Treasury (“Treasury”) and the Internal Revenue Service (“IRS”) have modified a framework relating to renewable energy projects that qualify for the domestic content bonus tax credit (the “DC Adder”)...more

McGuireWoods LLP

IRS Issues New Safe Harbor for 10% Domestic Content Bonus

McGuireWoods LLP on

On May 17, 2024, the IRS released Notice 2024-41, which provides new safe harbors for determining certain energy projects’ qualification for the 10% domestic content bonus under the production tax credit (PTC) and investment...more

Holland & Knight LLP

Treasury Department and IRS Release Final Regulations on the Transfer of IRA Tax Credits

Holland & Knight LLP on

As provided in the Inflation Reduction Act (IRA), eligible taxpayers may make a yearly election to transfer all (or any portion) of an eligible credit to an unrelated taxpayer under Section 6418 of the Internal Revenue Code,...more

Cadwalader, Wickersham & Taft LLP

Energy Tax Credit Guidance Continues to Blossom

The Inflation Reduction Act of 2022 (the “IRA”) now allows firms to develop and sell clean energy tax credits.  In our last update, we discussed the launch of the new IRS registration portal and the guidance that was released...more

Morgan Lewis

The ‘Three Pillars’ of EAC Use and the Proposed Regulations for Clean Hydrogen Tax Credit

Morgan Lewis on

The Internal Revenue Service (IRS) and US Department of the Treasury (Treasury) published proposed regulations (the Proposed Regulations) in late December 2023 setting forth rules that would apply to the tax credits for...more

Allen Matkins

Renewable Energy Update 3.21.24

Allen Matkins on

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

Locke Lord LLP

IRS Releases Final Direct Pay Energy Tax Credit Regulations

Locke Lord LLP on

On March 5, 2024, the Internal Revenue Service and the Treasury Department issued final Treasury Regulations (the “Final Regulations”) updating and finalizing previously published proposed Treasury Regulations relating to the...more

BakerHostetler

Monetizing Renewable Energy Credits - Final Regulations on Direct Pay

BakerHostetler on

As covered in our prior alerts, the Inflation Reduction Act modified and reinstated existing renewable energy credits, enacted new renewable energy credits, and enacted under § 6417 an election that allows applicable entities...more

Kilpatrick

4 Key Takeaways | Harnessing the Inflation Reduction Act: Driving Investments in Renewable Energy and Carbon Reduction

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Kilpatrick’s John Pierce recently discussed “Harnessing the Inflation Reduction Act: Driving Investments in Renewable Energy and Carbon Reduction” at the firm’s Houston 2024 In-House Counsel Summit. The summit featured...more

Husch Blackwell LLP

Covering the Basics: Common Renewable Energy Project Financing Options

Husch Blackwell LLP on

As the shift from fossil-based energy production to renewable energy sources continues, growth in renewable energy projects under development has been staggering. But moving projects from early-stage development to commercial...more

Kilpatrick

4 Key Takeaways - Harnessing the Inflation Reduction Act: Driving Investments in Renewable Energy and Carbon Reduction

Kilpatrick on

Kilpatrick’s John Pierce recently discussed “Harnessing the Inflation Reduction Act: Driving Investments in Renewable Energy and Carbon Reduction” at the firm’s Houston 2024 In-House Counsel Summit. The summit featured...more

Foster Garvey PC

Unlocking Clean Energy Investments: New Elective Payment Credits for State and Local Governments

Foster Garvey PC on

State and local governments undertaking clean energy projects may be eligible for cash payments equal to the renewable electricity production tax credit or energy investment tax credit that would have been available to a...more

Wilson Sonsini Goodrich & Rosati

Clean Energy and Climate Solutions Federal Funding Database

Wilson Sonsini is pleased to share our January 2024 update to the Clean Energy and Climate Solutions Federal Funding Database. This month, the database features funding opportunity announcements (FOAs), notices of intent...more

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