Renewable Energy Tax Credits

News & Analysis as of

Green Tax Incentive Compendium

GENERAL DESCRIPTION. The Federal Internal Revenue Code provides a business income tax credit in the amount of $0.023 (2015) per kilowatt hour of electricity produced from qualifying renewable resources during a ten-year...more

Recent Federal Legislation Rings In the New Year With Some Exciting Developments for Both the Renewable and Oil Energy Industries

On December 18, 2015, the current divided United States Congress, which has not been known for many grand compromises, passed an omnibus spending bill featuring key measures related to renewable energy tax credits and to the...more

Obama Signs Omnibus Budget Bill that Includes $622 Million in Tax Extenders

On December 18, 2015, President Obama signed the Protecting Americans from Tax Hikes Act of 2015 (the “PATH Act”) after both houses of Congress voted to approve the budget measure and comprehensive spending bill. The PATH Act...more

New Legislation Extends and Modifies Renewable Energy Industry Tax Incentives

The five-year tax credit extension for wind and solar power facilities is a welcome development for the renewable energy industry in light of recent indications by Congress of a push to end tax credit benefits for wind and...more

Extension of Renewable Energy Tax Incentives

On December 18, 2015, President Barack Obama signed into law the Consolidated Appropriations Act, 2016 (H.R. 2029) (the Act), which included welcomed extensions to a number of energy tax incentives....more

Renewable Energy Tax Credit Extensions

In a major victory for the renewable energy industry, Congress recently passed, and the President signed into law, two significant pieces of tax legislation, the Protecting Americans from Tax Hikes (PATH) Act and the...more

"Congress Extends Renewable Energy Tax Credits"

On December 18, 2015, President Barack Obama signed into law the Consolidated Appropriations Act, 2016 (Act), which extends and modifies the investment tax credit for solar energy property, the production tax credit for wind...more

Solar and Wind Tax Credits Benefit from Proposed Compromise on Government Spending Bill

Tuesday night, Speaker Paul Ryan (R-WI) and other congressional leaders released a proposed legislative compromise that would fund the government through September 30, 2016, extend tax credits for solar and wind projects and...more

Renewable Energy Tax Credits Receive Multiyear Extension in Congressional Omnibus Bill

Congressional leadership reached agreement late last evening on an omnibus spending and tax bill that will be voted on by the House and Senate later this week. The bill reflects a global agreement among the leaders on tax and...more

Renewable Energy Update - Decemeber 2015

Renewable Energy Focus - Wind and solar power to supply more energy than shale, Goldman Sachs says: Bloomberg - Nov 30: New wind turbines and solar panels worldwide will provide more energy over the...more

Energy & Environment Update - October 2015

Energy and Climate Debate - With Congress avoiding a government shutdown by passing a continuing resolution last week, both the House and Senate are in session this week with full schedules, including several energy and...more

Arizona Increased Tax Credit for Renewable Energy Facilities Used for Self-Consumption by Five Times per Facility

Arizona has enacted Arizona House Bill 2670 (adding Arizona Revised Statute 41-1520 and amending Arizona Revised Statutes 42-5063, 42-5159, 42-6012, 43-1083.04 and 43-1164.05), which includes taxpayer-friendly revisions to...more

Critical Deadline Approaches for Safe Harbor Application, Questions Remain

Last year, the North Carolina General Assembly delayed the repeal of the tax credit for investing in renewable energy property in N.C. Gen. Stat. § 105-129.16A. Under the delayed sunset, the credit is repealed for renewable...more

IRS Releases Favorable Guidance for Individual Investors in Community Solar to Claim Section 25D Tax Credit

The IRS recently issued a Private Letter Ruling (PLR) clarifying that an individual investor in a net-metered community solar project may claim the federal residential Investment Tax Credit (ITC) under Section 25D of the...more

Legislative Roundup on Energy from the New England States

On Thursday, September 10, The New England Clean Energy Council (NECEC) hosted its third annual Legislative Roundup. The event brought together clean energy advocates and technology developers from around the Northeast to...more

MoFo New York Tax Insights - Volume 6, Issue 8 - August 2015

Court Of Appeals Affirms Revocation Of Tax Exemption For Public Parking Facilities - Reversing a decision by the Appellate Division, the Court of Appeals has held in a 5-2 decision that a charitable organization is not...more

Clean Power Plan Finalized by Obama Administration and EPA — What's Next?

On August 3, 2015, President Obama and the Environmental Protection Agency (EPA) released a new set of final regulations aimed at reducing carbon output from power plants. The sweeping new Clean Power Plan (CPP) sets limits...more

New York, Connecticut Establish Community-Based Renewable Energy Programs

New York and Connecticut recently joined at least 13 other states, including Hawai’i and Maryland, in establishing measures that could significantly expand access to renewable energy generation in those states through...more

Opportunities for Renewables Get Big Boost in Final Clean Power Plan

The Obama Administration’s final Clean Power Plan (CPP) is an attempt to curb climate change and, at the same time, will create a new pipeline of opportunities for developers, sellers and purchasers of renewable energy (RE)....more

Energy Insights: An Update from the Second Quarter of 2015

In this edition of Seyfarth Shaw’s Energy Insights Newsletter our Energy and Clean Technologies team covers important developments in Q2 2015 for the energy industry including court protection for companies using hydraulic...more

Energy Legislation Gains Momentum: Bills Pass House and Senate Committees

After much anticipation, both the House and the Senate Committees passed their long awaited energy bills. Much is covered in the two packages, and many amendments have been tabled for when the bills hit the floor in the fall....more

Iowa Modifies its Renewable Energy Tax Credit Regime

The governor of Iowa has signed into law House File 645 (the “Act”) modifying statutory provisions related to Iowa’s renewable energy tax credits, effective June 26, 2015. There are four primary changes, three of which are...more

North Carolina General Assembly Week in Review

The state House passed their two-year, $22.1 billion spending proposal early this morning on a vote of 93-23 after a long week of debate that saw delays because of the sheer number of amendments to the bill. House Bill 97,...more

N.C. State Senate Introduces Bill Granting Tax Credit for "Property" Serving Renewable Energy Efforts

Last week, the North Carolina State Senate introduced a bill that seeks to extend renewable-energy tax credits applicable to eligible property -- which is defined as specific "machinery and equipment or real property" -- that...more

Bill Introduced in North Carolina Senate Seeks to Extend the State’s Renewable-Energy Tax Credit Through 2020

This week, a bill was introduced in the North Carolina Senate to extend the state’s renewable-energy tax credit to eligible property that is placed in service by the end of 2020. Eligible renewable-energy property would...more

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