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Energy Storage Tax Credits Production Tax Credit

Allen Matkins

Renewable Energy Update 3.21.24

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The first commercial-scale offshore wind farm in the United States is officially open, a long-awaited moment that helps pave the way for a succession of large wind farms. Danish wind energy developer Ørsted and the utility...more

Troutman Pepper

Analyzing the Impact of the IRA on Energy Storage — Battery + Storage Podcast

Troutman Pepper on

In this episode of the Troutman Pepper Battery + Storage Podcast, host Bill Derasmo is joined by Troutman Pepper Partners Anne Loomis and John Leonti to discuss the transformative effects of the Inflation Reduction Act (IRA)...more

King & Spalding

IRS and Treasury Issue Section 48 Investment Tax Credit Proposed Regulations

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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

Womble Bond Dickinson

Advanced Energy Project Credit Concept Paper Applications Are Now Open

Womble Bond Dickinson on

In August 2022, President Biden signed the Inflation Reduction Act (IRA). One of the most significant manufacturing incentives bolstered by the IRA is the Advanced Energy Project Credit (Section 48C), which received $10...more

Holland & Knight LLP

Break Out Your Calculator: IRS Releases Domestic Content Bonus Credit Guidance

Holland & Knight LLP on

Following the release of energy community bonus credit and low-income community bonus credit guidance, the U.S. Department of the Treasury and IRS recently provided taxpayers with the domestic content bonus credit guidance....more

Wilson Sonsini Goodrich & Rosati

IRS Releases Preliminary Guidance on the IRA Domestic Content Bonus Credit

On May 12, 2023, the Internal Revenue Service (IRS) released long-awaited guidance on the domestic content bonus credit under the Inflation Reduction Act of 2022 (IRA). Specifically, the IRS released Notice 2023-38 regarding...more

McGuireWoods LLP

Inflation Reduction Act Creates New Tax Credit Opportunities for Energy Storage Projects

McGuireWoods LLP on

On Aug. 16, 2022, President Joe Biden signed into law the Inflation Reduction Act of 2022 (IRA), which includes new and revised tax incentives for clean energy projects. This alert provides a summary of the IRA’s impact on...more

Pillsbury Winthrop Shaw Pittman LLP

IRS Provides Highly Anticipated Wage and Apprentice Guidance for Applicable Tax Credits under the Inflation Reduction Act

Publication of Notice 2022-61 starts the 60-day clock until projects that initially commence construction must comply with the new requirements. On November 30, 2022, the Internal Revenue Service (IRS) published Notice...more

King & Spalding

H2ypothetical - Clean Electricity Credits

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On August 16, 2022, President Biden signed the Inflation Reduction Act of 2022 (the Act). The Act includes multiple tax benefits for hydrogen production, storage and utilization, summarized in the following King & Spalding...more

Pierce Atwood LLP

Slimmed Down Energy Tax and Social Spending Package Targeted for Vote Before August

Pierce Atwood LLP on

A slimmed down version of the Build Back Better bill is reportedly in discussions between the Biden Administration and Senator Joe Manchin (D-W.Va). The Build Back Better bill has been stalled in Congress due to opposition by...more

Allen Matkins

Renewable Energy Update - December 2020 #4

Allen Matkins on

Congress passes spending bill with solar, wind tax credit extensions and energy R&D package - Bullet Greentech Media – December 22 - The U.S. Congress this Monday passed a massive spending bill that includes $35...more

Holland & Knight LLP

IRS Sheds New Light on Solar Tax Credits, Leaves Energy Storage in the Dark

Holland & Knight LLP on

The Internal Revenue Service (IRS) issued recent guidance regarding construction of commercial solar energy properties and other qualified energy properties for purposes of claiming the Investment Tax Credit (ITC), the key...more

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