On January 10, 2025, the Internal Revenue Service (IRS) issued Notice 2025-10 and Notice 2025-11. Notice 2025-10 summarizes proposed regulations (Proposed Regulations) that Treasury and the IRS plan to issue with respect to...more
On January 7, 2025, the U.S. Department of Treasury (Treasury) and the Internal Revenue Service (IRS) released final regulations [TD 10024] (Final Regulations) providing guidance on the Clean Electricity Production Tax Credit...more
The Trump administration is expected to take quick and decisive action to weaken the IRA once he takes office.
Trump’s vow to end delays in federal drilling permits and leases for oil and gas production could benefit...more
1/17/2025
/ Clean Energy ,
Climate Change ,
Energy Sector ,
Environmental Policies ,
Inflation Reduction Act (IRA) ,
Methane ,
NEPA ,
Offshore Wind ,
Oil & Gas ,
Paris Agreement ,
Permits ,
Regulatory Reform ,
Renewable Energy ,
Solar Energy ,
Trump Administration
The final regulations retain the general framework of the proposed regulations, with some important modifications based upon comments from industry members.
The acquisition and retirement of energy attribute certificates...more
1/9/2025
/ Carbon Capture and Sequestration ,
Clean Energy ,
Department of Energy (DOE) ,
Environmental Protection Agency (EPA) ,
Final Rules ,
Greenhouse Gas Emissions ,
Internal Revenue Code (IRC) ,
IRS ,
Methane ,
Natural Gas ,
Nuclear Power ,
Renewable Energy ,
Tax Credits ,
U.S. Treasury
The proposed regulations provide the initial guidance for new tax credits that go into effect in 2025 for clean electricity facilities using various technologies that achieve net-zero greenhouse gas (GHG) emissions.
Under...more
The application cycle for Treasury to award this round of credits will soon open, providing applicants an opportunity to receive significant funding for clean energy, industrial decarbonization and critical materials...more
5/6/2024
/ Clean Energy ,
Department of Energy (DOE) ,
Energy Sector ,
Greenhouse Gas Emissions ,
Hydrogen Power ,
Inflation Reduction Act (IRA) ,
Internal Revenue Code (IRC) ,
IRS ,
Nuclear Power ,
Solar Energy ,
Tax Credits ,
U.S. Treasury ,
Wind Power
The proposed regulations go beyond the use of the GREET model by requiring the use of “energy attribute certificates” (EACs) to prove eligibility for the credit under section 45V of the Internal Revenue Code (IRC). The use of...more
1/2/2024
/ Clean Energy ,
Department of Energy (DOE) ,
Energy Tax Incentives ,
European Commission ,
Greenhouse Gas Emissions ,
Hydrogen Power ,
Inflation Reduction Act (IRA) ,
Internal Revenue Code (IRC) ,
Investment Tax Credits ,
IRS ,
Proposed Regulation ,
Renewable Energy ,
Tax Credits ,
U.S. Treasury ,
Zero Emission Credits
The proposed regulations provide important clarity on the distinction between substantial and superficial modification for purposes of determining eligible components produced by the taxpayer, along with guidance as to...more
12/22/2023
/ Anti-Abuse Rule ,
Clean Energy ,
Component Parts Doctrine ,
Engineering ,
Inflation Reduction Act (IRA) ,
Internal Revenue Code (IRC) ,
IRS ,
Manufacturers ,
Minerals ,
Proposed Legislation ,
U.S. Treasury