Vinson & Elkins Sean Moran and Lauren Collins Discuss the Evolution of Tax Credits
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On January 3, 2025, the US Department of the Treasury released final Treasury regulations applicable to the hydrogen production tax credit under Section 45V and the investment tax credit for hydrogen production facilities...more
En janvier 2025, Environnement et Changement climatique Canada (« ECCC ») a publié l’avant-projet de protocole fédéral de crédits compensatoires (le « Protocole ») en lien avec le captage et le stockage géologique du dioxyde...more
Great Britain’s Labour Prime Minister Keir Starmer has shaken up the British political scene since July 2024, including making a priority of a “Net Zero” policy regarding energy generation and use in the United Kingdom. Led...more
The U.S. Department of the Treasury and Internal Revenue Service (IRS) have released final regulations or tax credits for the production of clean hydrogen under Section 45V of the Internal Revenue Code. The industry has...more
On January 3, 2025, the Treasury Department and the Internal Revenue Service issued final regulations under Internal Revenue Code (Code) Section 45V (the Final Regulations) with respect to credits for the production of clean...more
Vinson & Elkins' Sean Moran & Lauren Collins have witnessed the evolution of tax credits—from their early days in the late '80s to today’s booming energy transition. Watch as this dynamic duo explores how these credits have...more
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
Carbon Quarterly is a newsletter covering developments in carbon policy, law, and innovation. No matter your views on climate change policy, there is no avoiding an increasing focus on carbon regulation, resiliency planning,...more
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
As we step into the new year, the energy and sustainability landscape continues to shape up. Building on our December analysis, this month we highlight congressional leadership assignments, new legislative initiatives, and...more
President-elect Trump has been outspoken about his intent to reverse many of the Biden administration’s clean energy legislative and regulatory actions. We expect that the second Trump administration will seek to repeal...more
Introduction: Hidden Challenges of Energy Transition - The evolution of energy transition in the United States has been driven, historically, by advances in new technology, fuel availability, fuel pricing, and, probably...more
Much has been made of the need for a just energy transition, where developing economies are supported to achieve Net Zero. But there’s also a vast amount of climate innovation taking place outside the West that has the...more
On August 4, 2023, the Department of Finance (“Finance”) released a substantive piece of draft legislation for a number of investment tax credits previously announced by Finance and aimed at renewable and clean energy sectors...more
The U.S. Department of the Treasury and IRS on June 14, 2023, released two notices of proposed rulemaking (NOPRs) regarding the direct payment of tax credits under Section 6417 of the Internal Revenue Code (Elective Payment...more
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
An Uncertain Future for Nuclear Generation - As countries and companies around the world set goals for renewable energy targets, there is constant uncertainty as to the best path for reaching these goals. While wind and...more
It has been publicly reported that the Biden Administration's EPA will shortly "announce limits on greenhouse gas emissions from power plants that could compel them to capture the pollution from their smokestacks." In...more
On 9 March 2023, the European Commission adopted the Temporary Crisis and Transition State aid Framework ("TCTF") aimed at boosting and retaining clean tech investments in Europe. The TCTF marks an unprecedented loosening of...more
Key Takeaways: ..Recently enacted direct pay and transfer provisions apply to certain clean energy tax credits. These provisions will have a significant impact on how taxpayers can monetize these tax credits and, in...more
The Inflation Reduction Act, which President Biden signed on August 16, 2022, represents the country’s first major legislative measure to fight climate change. The new law allocates $369 billion in programs to promote energy...more
On August 16, 2022, President Joseph Biden signed into law the Inflation Reduction Act of 2022 in what many have called the largest investment in climate change countermeasures in U.S. history....more
The Act promises to touch on almost every aspect of US climate policy. On August 16, 2022, President Biden signed into law the Inflation Reduction Act (the Act), which expands clean and renewable energy production,...more
The Inflation Reduction Act of 2022 (the Act) runs 725 pages and includes numerous energy tax provisions aimed at enhancing US energy security. The Act, if enacted, would extend and expand the renewable and alternative...more