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Renewable Energy Safe Harbors

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

A&O Shearman

Navigating the new elective safe harbor for the Domestic Content Bonus Tax Credit

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The U.S. Treasury Department and the Internal Revenue Service have issued a new safe harbor that will make it easier for U.S. solar, onshore wind and battery storage projects with U.S.-sourced components to qualify for...more

Cozen O'Connor

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

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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

Troutman Pepper

Treasury and IRS Issue Additional Domestic Content Guidance Under IRA and New Elective Safe Harbor

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On May 16, the Treasury Department (Treasury) and the Internal Revenue Service (IRS) issued Notice 2024-41, which modifies Notice 2023-38 (Prior Guidance) by expanding the list of Applicable Projects (defined below) to...more

Bradley Arant Boult Cummings LLP

Inflation Reduction Act Domestic Content Bonus Update: IRS Issues Updated Guidance with New Elective Safe Harbor

On May 16, 2024, the IRS released Notice 2024-41 (the “Notice”), modifying its preliminary guidance issued last May in Notice 2023-38 addressing the application of potential future rules that taxpayers must satisfy to qualify...more

Holland & Hart LLP

Usable Domestic Content Safe Harbor Issued

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On May 16, 2024, the IRS released Notice 2024-41, which modifies the previously issued Notice 2023-38, to provide a new safe harbor for qualifying for the “domestic content” addition to the federal production or investment...more

Vinson & Elkins LLP

Domestic Content Safe Harbor Released

Vinson & Elkins LLP on

On May 16, 2024, the Department of the Treasury (the “Treasury”) and the Internal Revenue Service (the “IRS”) issued Notice 2024-41 (the “Notice”), which provides supplemental guidance on the domestic content bonus credit...more

Stoel Rives LLP

Treasury Provides New Safe Harbor for Domestic Content Bonus Credit

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The U.S. Department of the Treasury (Treasury) today released Notice 2024-41, Domestic Content Bonus Credit Amounts under the Inflation Reduction Act of 2022: Expansion of Applicable Projects for Safe Harbor in Notice 2023-38...more

Quarles & Brady LLP

The SEC Issues Final Climate Disclosure Rules for Public Companies, but Legal Challenges are Pending

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On March 6, 2024, the Securities and Exchange Commission (SEC) finalized its long-awaited climate disclosure rules on a party-line 3-2 vote. The new rules have been significantly watered down from the SEC’s March 21, 2022...more

Mintz - Energy & Sustainability Viewpoints

SEC Approves Sweeping New Climate Disclosure Rule: Key Takeaways

The Securities & Exchange Commission ("SEC") issued its long-awaited final rule concerning climate disclosures, entitled “The Enhancement and Standardization of Climate-Related Disclosures for Investors” (“Climate Disclosure...more

Sullivan & Worcester

Enabling REITs to Deploy Renewable Energy: Toward a Workable Legal Standard

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When Treasury promulgated Treasury Decision 9784, I.R.B 2016-39 nearly a decade ago, the net metering renewable energy safe harbor (Section XI “Renewable Energy”, Subsection A) was welcome guidance that was fit for the time...more

Holland & Knight LLP

Eyes on Energy Tax Update: Second Quarter 2023

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The second quarter of 2023 saw continued developments as a result of the enactment of the Inflation Reduction Act of 2022 (IRA), court activity and announcements from federal agencies. Below, we summarize the updates you need...more

BCLP

IRS guidance on energy community PTC and ITC bonus credits provides some needed clarity

BCLP on

On April 4, 2023, the IRS and the Treasury issued Notice 2023-29 (the “Notice”) announcing an intention to propose regulations, and providing interim guidance, with respect to the requirements that taxpayers must satisfy in...more

BCLP

Industry update: PWA guidance

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The Inflation Reduction Act (the “IRA”), which was signed into law in August of 2022, has been top of mind for members of the renewable energy industry. This is because, among other things, the IRA significantly restructured...more

Holland & Knight LLP

Break Out Your Calculator: IRS Releases Domestic Content Bonus Credit Guidance

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Following the release of energy community bonus credit and low-income community bonus credit guidance, the U.S. Department of the Treasury and IRS recently provided taxpayers with the domestic content bonus credit guidance....more

Wilson Sonsini Goodrich & Rosati

IRS Releases Preliminary Guidance on the IRA Domestic Content Bonus Credit

On May 12, 2023, the Internal Revenue Service (IRS) released long-awaited guidance on the domestic content bonus credit under the Inflation Reduction Act of 2022 (IRA). Specifically, the IRS released Notice 2023-38 regarding...more

Bricker Graydon LLP

What is an “Energy Community” - IRS Provides Guidance on Key Aspect of the Inflation Reduction Act

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The Inflation Reduction Act (IRA) has been called the most aggressive climate investment ever undertaken by the U.S. Congress. With approximately $370 billion dollars in funding over the next 10 years, it is projected that...more

Eversheds Sutherland (US) LLP

IRS releases Notice 2023-29 on energy community rules

On April 4, 2023, the Treasury Department (Treasury) and the Internal Revenue Service (IRS) issued Notice 2023-29(the Notice) to provide additional guidance on energy community bonus tax credits under IRC sections 45, 45Y,...more

Gould + Ratner LLP

IRS Notice Provides Relief for Renewable Energy Construction Projects

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As we discussed in a previous article, the renewable energy industry is experiencing record growth. President Biden’s current initiatives are also expected to provide an additional boost to accelerate future growth in clean...more

Holland & Hart LLP

IRS Extends Continuity Safe Harbor for Renewable Energy Tax Credit Projects

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In response to continuing delays caused by the Covid-19 pandemic, the IRS issued Notice 2021-41 (the “Notice”) on June 29, 2021. The Notice provides relief for renewable energy projects that began construction between 2016...more

Bracewell LLP

IRS Further Extends the Continuity Safe Harbor for Qualifying Solar and Wind Projects

Bracewell LLP on

On June 29, 2021, the IRS released Notice 2021-41 (the Notice) extending the length of the Continuity Safe Harbor (as defined below) for purposes of claiming the investment tax credit (ITC) or the production tax credit (PTC)....more

Morrison & Foerster LLP

Window Widens For Completing Construction On Renewable Energy Projects

Good news came for renewable energy developers on June 29, 2021, when the IRS issued Notice 2021-41. The notice gives developers more time to finish projects and makes it easier to prove that they began construction on a...more

Latham & Watkins LLP

IRS Extends Renewables Continuity Safe Harbor

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Notice 2021-41 gives renewable energy developers more time to complete their projects and qualify for tax credits. Key Points: ..Developers of PTC- and ITC-eligible renewables projects that began construction in 2016...more

Orrick, Herrington & Sutcliffe LLP

IRS Gives 2016‐2020 Vintage Renewable Energy Projects More Time to Finish Construction; Relaxes Continuity Rules

IRS guidance issued June 29, 2021 extends the deadline by which renewable energy projects (including wind and solar projects) that began construction in 2016 through 2020 may finish construction and qualify for production tax...more

McGuireWoods LLP

IRS Further Extends Continuity Safe Harbor for 2016 and Later Renewable Energy Projects

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On June 29, 2021, the IRS issued Notice 2021-41, providing taxpayers additional relief for purposes of satisfying the beginning-of-construction requirement for qualifying production tax credit (PTC) and investment tax credit...more

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