A few months ago we wrote about Congress utilizing the Inflation Reduction Act of 2022 to offer bonus tax credits to certain energy facilities for meeting specified “domestic content” requirements. Relying heavily on the...more
6/29/2023
/ Buy America ,
Country of Origin ,
Energy Projects ,
Federal Transit Administration ,
Inflation Reduction Act (IRA) ,
Made in the USA ,
Manufacturers ,
New Guidance ,
OEM ,
Qualified Energy Facilities ,
Renewable Energy ,
Tax Credits ,
U.S. Treasury
The United States is broadening the scope and diversity of its energy mix at a rate and to an extent not seen in a century, if ever. The changes underway provide both important opportunities and critical challenges for owners...more
On February 13, 2023, the Internal Revenue Service (“IRS”) issued its “initial guidance” regarding the Low-Income Communities Bonus Credit Program (the “Program”) established by the Inflation Reduction Act of 2022 (the “IRA”)...more
As previously discussed in our blog Inflation Reduction Act: Wage and Apprenticeship Requirements, the Inflation Reduction Act (the “IRA”) restructured the tax credit system associated with qualified clean energy projects...more
12/30/2022
/ Apprenticeships ,
Construction Project ,
Davis-Bacon Act ,
Employees ,
Energy Projects ,
Inflation Reduction Act (IRA) ,
Internal Revenue Code (IRC) ,
IRS ,
New Guidance ,
Popular ,
Prevailing Wages ,
Tax Credits ,
Tax Planning ,
U.S. Treasury ,
Wage and Hour
On August 7, 2022, the Senate passed the Inflation Reduction Act of 2022 (H.R. 5376) (the “Reconciliation Bill”) on a party line vote with the deciding vote cast by the Vice President. The Senate’s passage of the...more
As Congress was completing final negotiations of the stimulus package dealing with the public health and economic impacts of the coronavirus pandemic, several key energy provisions made their way into the 5593-page omnibus...more
Momentum is growing quickly towards widespread construction of US offshore wind-powered electrical generation facilities. Several States along the northern part of the Atlantic coast have projects actively under development...more