On January 16, the Treasury Department (Treasury) and the Internal Revenue Service (IRS) issued Notice 2025-08 (Notice), which provides an updated safe harbor (First Updated Elective Safe Harbor) that modifies and otherwise...more
On January 15, the Treasury Department (Treasury) and the Internal Revenue Service (IRS) published final regulations providing further guidance on the clean electricity production credit under Section 45Y and the clean...more
1/24/2025
/ Clean Energy ,
Final Rules ,
Greenhouse Gas Emissions ,
Inflation Reduction Act (IRA) ,
Internal Revenue Code (IRC) ,
Investment Tax Credits ,
IRS ,
Production Tax Credit ,
Renewable Energy ,
Tax Credits ,
U.S. Treasury
The IRS and the Treasury Department issued final regulations on January 3 (Final Regulations), providing guidance on the clean hydrogen production tax credit under Section 45V (Hydrogen PTC) and the investment tax credit...more
1/16/2025
/ Carbon Emissions ,
Clean Energy ,
Energy Sector ,
Greenhouse Gas Emissions ,
Hydrogen Power ,
Infrastructure ,
Internal Revenue Code (IRC) ,
Investment Tax Credits ,
IRS ,
Production Tax Credit ,
Renewable Energy ,
Tax Credits ,
U.S. Treasury
On May 16, the Treasury Department (Treasury) and the Internal Revenue Service (IRS) issued Notice 2024-41, which modifies Notice 2023-38 (Prior Guidance) by expanding the list of Applicable Projects (defined below) to...more
5/23/2024
/ Energy Projects ,
Energy Storage ,
Hydropower ,
Inflation Reduction Act (IRA) ,
Infrastructure ,
Investment Tax Credits ,
IRS ,
Manufacturers ,
Natural Gas ,
Oil & Gas ,
Proposed Regulation ,
Renewable Energy ,
Safe Harbors ,
U.S. Treasury
The IRS and the Treasury Department issued proposed regulations on December 26, 2023 (Proposed Regulations), providing guidance on the clean hydrogen production tax credit under Section 45V (Hydrogen PTC) and the investment...more
1/2/2024
/ Clean Energy ,
Climate Action Plan ,
Department of Energy (DOE) ,
Energy Projects ,
Energy Tax Incentives ,
Greenhouse Gas Emissions ,
Inflation Reduction Act (IRA) ,
Infrastructure ,
Investment Tax Credits ,
IRS ,
Production Tax Credit ,
Proposed Regulation ,
Regulatory Agenda ,
Renewable Energy ,
Tax Credits ,
U.S. Treasury
The IRS and the Treasury Department issued proposed regulations under Section 48 on November 22, 2023 (Proposed Regulations), providing further guidance in determining whether property is energy property and eligible for the...more
On June 20, the U.S. Court of Federal Claims issued an opinion and order, denying plaintiffs’ motion for summary judgment in Alta Wind I Owner-Lessor C, et al. v. U.S. (Nos. 13-402, 13-917, 13-935, 13-972, 14-47, 14-93,...more
On May 12, the Treasury Department (Treasury) and the Internal Revenue Service (IRS) issued Notice 2023-38, which describes certain rules that Treasury and the IRS intend to include in forthcoming proposed regulations...more
Wind and Solar PTC and specified § 45 technologies -
100% of PTC rate (assuming labor requirements met)
...more
The Inflation Reduction Act of 2022 (IRA) will be a game changer for the energy industry. This guide focuses on those issues of particular significance to the energy industry; it is not intended to be comprehensive....more
On October 28, the House Rules Committee released a modified version of the budget reconciliation legislation, the Build Back Better Act (the Bill), including Subtitle D, Green Energy. Before release of the Bill, President...more
On September 15, the House Ways and Means Committee (Committee) approved a portion of bills drafted for inclusion in the $3.5 trillion budget reconciliation legislation — the Build Back Better Act — including Subtitle G,...more
The Biden administration earlier this year released a summary of its plans to invest in infrastructure, which included “direct-pay” options for the investment tax credit (ITC) and production tax credit (PTC) for clean energy...more
On June 29, the IRS issued Notice 2021-41, which provides further relief for delays caused by the COVID-19 pandemic with respect to the “beginning of construction” requirements for renewable energy projects eligible for the...more
On December 31, 2020, the IRS issued Notice 2021-5, which provides relief for the impact of delays on qualified facilities and energy property projects being constructed offshore or on federal land with respect to the...more
On December 21, the House and Senate passed H.R. 133, the “Consolidated Appropriations Act, 2021,” with overwhelming support. A video posted on December 22 on Twitter cast doubt on whether the president will sign the bill....more