We have published our Legal Update on the Federal Circuit’s opinion in the Alta Wind case involving the calculation of eligible basis for 1603 Treasury cash grant purposes. The 1603 Treasury cash grant rules “mimic” the...more
9/11/2018
/ 1603 Grants ,
Acquisitions ,
Appeals ,
Energy Projects ,
Energy Sector ,
Energy Tax Incentives ,
Investment Tax Credits ,
Power Purchase Agreements ,
Production Tax Credit ,
Remand ,
Renewable Energy ,
Utilities Sector ,
Vacated ,
Wind Power
On June 22, 2018, the IRS released Notice 2018-59 (the “Guidance”). The Guidance provides rules to determine when construction begins with respect to investment tax credit (“ITC”) eligible property, such as solar projects. ...more
In a recent case, the Tax Court ruled in the taxpayer’s favor as to three California distributed generation solar projects’ eligibility for the energy credit under Section 48 and bonus depreciation under Section 168. ...more
A Word About Wind has published our article What Is the Impact of Tax Reform on US Wind Tax Equity Deals? in its blog (subscription required) and newsletter. ...more
1/19/2018
/ Base Erosion Tax ,
Bonus Depreciation ,
Business Taxes ,
Compensation & Benefits ,
Corporate Taxes ,
Energy Projects ,
Energy Sector ,
Infrastructure ,
Investment Tax Credits ,
Partnerships ,
Popular ,
Production Tax Credit ,
Renewable Energy ,
Tax Deductions ,
Tax Equity ,
Tax Planning ,
Tax Rates ,
Tax Reform ,
Trump Administration ,
Wind Power
Yesterday, the House voted 227 to 303 in favor of the tax reform bill agreed to by the conference committee. No Democrats voted for the House bill, and 12 Republicans from high tax states voted against it. The Senate was...more
12/21/2017
/ Alternative Minimum Tax ,
Corporate Taxes ,
Energy Sector ,
Investment Tax Credits ,
Legislative Agendas ,
MACRS ,
Power Purchase Agreements ,
Production Tax Credit ,
Proposed Legislation ,
Renewable Energy ,
Tax Credits ,
Tax Reform ,
Trump Administration
The US tax reform bill that the Senate passed on December 2, 2017—along partisan lines in a 51 to 49 vote—is a mixed bag for the tax equity market. The bill is now headed to the conference committee, consisting of House of...more
12/7/2017
/ Alternative Minimum Tax ,
Corporate Taxes ,
Investment Tax Credits ,
Legislative Agendas ,
Monetization ,
Production Tax Credit ,
Proposed Legislation ,
Renewable Energy ,
Tax Credits ,
Tax Equity ,
Tax Reform ,
Trump Administration
On Thursday, November 2, Republicans in the US House of Representatives released their proposed tax reform legislation, providing for massive alterations to tax law. The proposed legislation would trim tax benefits applicable...more
11/6/2017
/ Automotive Industry ,
Electric Vehicles ,
Energy Projects ,
Energy Sector ,
Energy Tax Incentives ,
Investment Tax Credits ,
Production Tax Credit ,
Proposed Legislation ,
Renewable Energy ,
Solar Energy ,
Tax Code ,
Tax Credits ,
Tax Reform ,
Wind Power
The National Renewable Energy Laboratory (NREL), a federally-owned laboratory that is funded through the U.S. Department of Energy, recently released a report titled Wind Energy Finance in the United States: Current Practice...more
On May 11, 2017, Senators Edward J. Markey (D-Mass.) and Sheldon Whitehouse (D-R.I.) introduced the Offshore Wind Incentives for New Development Act or, simply, the Offshore WIND Act (here). The Offshore WIND Act would...more
On January 19, 2017, the US Internal Revenue Service (IRS) released Revenue Procedure 2017-19 (the “Rev. Proc.”) providing a safe harbor for certain alternative energy sales contracts with federal agencies to be treated as...more
1/27/2017
/ Energy Policy ,
Energy Projects ,
ESPCs ,
Investment Tax Credits ,
IRS ,
OMB ,
Renewable Energy ,
Safe Harbors ,
SEIA ,
Service Contracts ,
Solar Energy