On January 3, 2025, the IRS and Treasury issued long-awaited final regulations (the “45V Final Regulations”) implementing the clean hydrogen production tax credit (the “45V Credit”) under Section 45V of the Internal Revenue...more
1/14/2025
/ Carbon Capture and Sequestration ,
Clean Energy ,
Department of Energy (DOE) ,
Energy Projects ,
Energy Sector ,
Final Rules ,
Greenhouse Gas Emissions ,
Hydrogen Power ,
Internal Revenue Code (IRC) ,
IRS ,
Production Tax Credit ,
Regulatory Agenda ,
Renewable Energy ,
Tax Credits ,
U.S. Treasury
Section 48 of the Internal Revenue Code of 1986, as amended (the “Code”) provides for an investment tax credit (“ITC”) for certain energy property. The Inflation Reduction Act of 2022 (the “IRA”) amended Section 48 in several...more
12/1/2023
/ Apprenticeships ,
Energy Projects ,
Energy Storage ,
Hydrogen Power ,
Income Taxes ,
Inflation Reduction Act (IRA) ,
Investment Tax Credits ,
IRS ,
Popular ,
Prevailing Wages ,
Production Tax Credit ,
Proposed Regulation ,
Renewable Energy ,
Solar Energy ,
Tax Credits ,
U.S. Treasury
Developers of renewable energy projects prior to the Inflation Reduction Act of 2022 (the “IRA”) were able to enter into joint ventures and leasing arrangements with other private companies that had a sufficient tax liability...more
8/17/2023
/ Carbon Capture and Sequestration ,
Inflation Reduction Act (IRA) ,
Internal Revenue Code (IRC) ,
Investment Tax Credits ,
Investors ,
IRS ,
Production Tax Credit ,
Proposed Regulation ,
Renewable Energy ,
Tax Credits ,
U.S. Treasury
Hydrogen is a key ingredient in any country’s future energy plans. In the United States, the hydrogen sector is on the launch pad, ready for lift-off. However, its trajectory hinges on a critical question: what criteria...more
7/31/2023
/ Biden Administration ,
Carbon Emissions ,
Clean Energy ,
Department of Energy (DOE) ,
Energy Projects ,
Energy Sector ,
Environmental Protection Agency (EPA) ,
EU ,
Greenwashing ,
Hydrogen Power ,
Inflation Reduction Act (IRA) ,
IRS ,
Renewable Energy ,
Tax Code ,
Tax Credits
The United States recently took another important step in implementing a comprehensive strategy to advance the production, processing, delivery, storage, and use of clean hydrogen. On June 5, 2023, the Biden-Harris...more
6/12/2023
/ Carbon Capture and Sequestration ,
Carbon Emissions ,
Clean Energy ,
Department of Energy (DOE) ,
Energy Projects ,
Energy Sector ,
Hydrogen Power ,
Inflation Reduction Act (IRA) ,
Popular ,
Renewable Energy ,
Tax Credits
On May 31, 2023, the IRS released Notice 2023-44 (the “Notice”) providing additional guidance on the advanced energy project tax credit (Section 48C), effectively reintroduced by the Inflation Reduction Act of 2022 (“IRA”). ...more
The Inflation Reduction Act of 2022, passed by the Senate on August 7, 2022, includes a number of provisions projected to result in significant investments in domestic energy production and manufacturing, and reduce carbon...more
8/11/2022
/ Biden Administration ,
Carbon Capture and Sequestration ,
Carbon Emissions ,
Department of Energy (DOE) ,
Department of Labor (DOL) ,
Energy Sector ,
Fossil Fuel ,
Greenhouse Gas Emissions ,
Hydrogen Power ,
Internal Revenue Code (IRC) ,
Investment Tax Credits ,
IRS ,
Popular ,
Price Inflation ,
Production Tax Credit ,
Renewable Energy ,
Tax Credits ,
U.S. Treasury