Renewable Energy Tax Credits

News & Analysis as of

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 Under the delayed sunset, the credit is repealed for renewable...more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

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

Colorado Energy Legislation 2015: Where Do We Stand at the Session Midpoint?

This past Saturday marked the midpoint of the First Regular Session of the 70th General Assembly of the State of Colorado. Having had 60 days to watch legislators in action, we now have a fairly good idea where the General...more

Renewable Energy Update - February 2015

Renewable Energy Focus: Obama budget aims to make solar and wind incentives permanent - PV Magazine - Feb 2: President Obama just unveiled a $3.99 trillion budget for 2016 that asks Congress for a permanent...more

Renewable Energy Update -- December 2014

Renewable Energy Focus; Panasonic to build 26 megawatts in Kern County, California: Bloomberg - Dec 2: The 280-megawatt Mojave solar farm, owned by Abengoa SA’s energy holding company, has begun generating power for...more

Renewable Energy Update -- November 2014

Renewable Energy Focus - U.S. solar consolidation seen before tax credit expires: Bloomberg - Oct 20: Acquisitions in the solar industry will accelerate as manufacturers and developers prepare for the expiration of a...more

CRS Report on the Production Tax Credit

On October 2, the Congressional Research Service (CRS) published an overview of the production tax credit (PTC). The report is available below. It contains a helpful summary of the history of the PTC and an insightful...more

IRS Relaxes and Clarifies Renewable Energy Tax Credit Eligibility Requirements for Projects Under Construction

On August 8, 2014, the Internal Revenue Service (IRS) issued Notice 2014-46 in response to continued industry requests for clarification on several aspects of the renewable electricity Production Tax Credit (PTC) under...more

"IRS Guidance Clarifies Renewable Energy Tax Credit"

The Internal Revenue Service (IRS) has released welcome new guidance on renewable electricity production and energy investment tax credits. A notice issued on August 8, 2014, addresses when a facility or equipment maintains...more

Are You Really Sure That Construction Began? IRS Issues Third Notice Regarding Renewable Energy Tax Credit Beginning of...

On August 8, 2014, the Internal Revenue Service (“IRS”) issued Notice 2014-46, which provides further guidance intended to assist developers and purchasers of renewable energy facilities evaluate whether such facilities...more

IRS Issues Additional Guidance on "Start of Construction" Requirement for Renewable Energy Tax Credits

On August 8, 2014, the IRS released Notice 2014-46, which provides additional guidance on the "start of construction" requirements for the investment tax credit (ITC) and production tax credit (PTC). As discussed below,...more

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