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Holland & Knight LLP

Navigating the Domestic Content Requirements Under Evolving IRS Guidance

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The IRS issued Notice 2025-08 on Jan. 16, 2025, which provides updated guidance regarding the domestic content requirements under Sections 45, 48, 45Y and 48E of the Internal Revenue Code – the investment tax credits and...more

Latham & Watkins LLP

Treasury Circulates Draft Regulations for Section 45Z Clean Fuel Production Credit

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A new tax credit is proposed to calculate a fuel’s emissions factor based on its full carbon life cycle of production. Notices 2025-10 and 2025-11 (Notices), released on January 10, 2025, outline the intention of the...more

Cadwalader, Wickersham & Taft LLP

Treasury Finalizes Key Energy Tax Credit Guidance Amid a Dry January

Enacted in August 2022, the Inflation Reduction Act (the “IRA”) expanded energy tax credits by increasing credit amounts across the board and broadening eligibility criteria to include new technologies....more

Eversheds Sutherland (US) LLP

Expected flurry of executive actions leaves open questions for the energy tax credits under the IRA at the start of Trump’s second...

On January 20, 2025, Donald J. Trump was inaugurated as the 47th President of the United States. As expected, President Trump took several executive actions in his first hours in office. The discussion below considers the...more

Bradley Arant Boult Cummings LLP

Inflation Reduction Act Domestic Content Bonus Update: IRS Issues Updated Guidance with First Updated Elective Safe Harbor

On January 16, 2025, the IRS released Notice 2025-08, modifying its prior guidance issued as Notice 2023-38 and Notice 2024-41, for taxpayers seeking to qualify for the domestic content bonus tax credit amounts under the...more

Baker Botts L.L.P.

Inflation Reduction Act Guidance: IRS and Treasury Release Final Regulations on the New Tech-Neutral Clean Energy Tax Credits

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On January 15, 2025, the Internal Revenue Service (the “IRS”) and the Department of the Treasury (“Treasury”) published final regulations regarding the new “clean electricity production credit” under Internal Revenue Code...more

Jones Day

Final Clean Electricity Production and Investment Tax Credit Regulations Provide Taxpayers With Welcomed Guidance

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The Department of Treasury and the Internal Revenue Service released final regulations regarding the Section 45Y clean electricity production and Section 48E clean electricity investment tax credits....more

King & Spalding

Treasury and IRS Issue Final Regulations Implementing Section 45V Clean Hydrogen Production Tax Credit

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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

Baker Botts L.L.P.

Section 45V Tax Credit Implications for Nuclear & Clean Hydrogeny

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The U.S. Department of the Treasury Department and Internal Revenue Service newly released Section 45V hydrogen tax credit guidance now includes nuclear plants if certain criteria are met - unlocking up to $3/kg for clean...more

Husch Blackwell LLP

Carbon Capture: Tax Impacts of Utilization & Storage

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One promising solution to climate change is Carbon Capture, Utilization and Storage (“CCUS”). CCUS involves capturing carbon oxides, primarily carbon dioxide (CO2), for permanent storage or potential utilization. Interest in...more

Orrick, Herrington & Sutcliffe LLP

Section 48 Energy Investment Tax Credit: Final Regulations Released

The U.S. Department of the Treasury (Treasury) and Internal Revenue Service (IRS) have released final regulations for the energy investment tax credit (ITC) under Section 48 of the Internal Revenue Code, which was...more

Foley Hoag LLP - Energy & Climate Counsel

A Boon for Biogas: Treasury’s Final Section 48 ITC Rules Resolve Key Concerns for Biogas and RNG Projects

On December 4, 2024, the Department of the Treasury finalized new rules governing the Section 48 Investment Tax Credit (“ITC”). The ITC applies to a broad range of clean energy projects, including biogas projects, which were...more

Jones Day

Final Regulations Expand Access to "Direct Pay" Elections for Energy Credits

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The U.S. Department of the Treasury and the Internal Revenue Service have issued final regulations allowing tax-exempt entities that are partners in clean energy projects to elect to receive energy tax credits in cash....more

McDermott Will & Emery

Weekly IRS Roundup November 18 – November 22, 2024

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Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of November 18, 2024 – November 22, 2024. ...more

Cadwalader, Wickersham & Taft LLP

Charging Ahead or Stalling Out? Clean Energy Credits Await Key Guidance

The Inflation Reduction Act of 2022 (the “IRA”) allows firms to develop and sell clean energy tax credits. In our last update, available here, we discussed the release of the long-awaited guidance package on the new...more

Cadwalader, Wickersham & Taft LLP

Back in Session: Energy Tax Credits

The Inflation Reduction Act of 2022 (the “IRA”) allows firms to develop and sell clean energy tax credits.  In our last update, we discussed the uncertain future of energy tax credit sales as we head into the election....more

ASKramer Law

Energy Tax Credits for a New World Part VII: Low-Income Communities Bonus Credits

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What is the Low-Income Communities Bonus Credit? The Low-Income Communities Bonus Credit available through the Inflation Reduction Act of 2022 (IRA) is designed to increase the siting of, and access to renewable energy...more

Vinson & Elkins LLP

Treasury Issues Proposed Regulations on Clean Electricity Low-Income Communities Bonus

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On August 30, 2024, the Department of Treasury (the “Treasury”) and the Internal Revenue Service (the “IRS”) issued proposed regulations (the “Proposed Regulations”) providing additional guidance to taxpayers on the...more

ASKramer Law

Energy Tax Credits for a New World Part VI: Energy Community Bonus Credits

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What is the purpose of the Energy Community Bonus Credit? The Inflation Reduction Act (IRA) introduced the Energy Community Bonus Credit to encourage renewable energy project developers to locate their facilities and energy...more

Wilson Sonsini Goodrich & Rosati

Treasury and IRS Release Proposed Regulations for Low-Income Communities Bonus Program Under Section 48E

On August 30, 2024, the U.S. Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) issued a notice of proposed rulemaking (the Proposed Regulations) regarding the new clean electricity low-income...more

ASKramer Law

Energy Tax Credits For A New World Part V: Domestic Content Bonus Credits

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What is the purpose of the Domestic Content Bonus Credit? The Inflation Reduction Act (IRA) introduced the Domestic Content Bonus Credit to provide an additional credit amount to taxpayers that meet its requirements. The...more

Cadwalader, Wickersham & Taft LLP

Energy Tax Credit Sales Stay Fully Charged Despite Uncertain Road Ahead

The Inflation Reduction Act of 2022 (the “IRA”) allows firms to develop and sell clean energy tax credits.  Now that most of the key guidance has been finalized, here is everything you need to know about energy tax credit...more

ASKramer Law

Energy Tax Credits for a New World Part II: Production Tax Credits and Investment Tax Credits: The Old and the New

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What is a Production Tax Credit (PTC)? A Production Tax Credit (PTC) is a per kilowatt-hour (kWh) tax credit for electricity generated by solar and other qualifying clean technologies for the first 10 years of a system’s...more

Jones Day

IRS Issues Final Prevailing Wage and Apprenticeship Regulations for Clean Energy Tax Credits

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The Background: The Inflation Reduction Act ("IRA") created or enhanced various tax credits for qualifying renewable energy projects. However, a taxpayer loses 80% of otherwise-available IRA credits unless prevailing wage...more

Wilson Sonsini Goodrich & Rosati

Claiming Tech-Neutral Clean Electricity Production and Investment Tax Credits Under the Inflation Reduction Act

On May 29, 2024, the U.S. Department of the Treasury and the Internal Revenue Service released long anticipated Proposed Regulations regarding clean electricity production tax credits and clean electricity investment tax...more

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