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Internal Revenue Code (IRC) Energy Projects Solar Energy

K&L Gates LLP

Proposed Texas Senate Bills Have Potential Negative Impacts on Wind and Solar

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Renewable energy developers should be aware of the proposed legislation in Texas that, if passed, will significantly impact existing wind and solar facilities as well as development-stage projects. Senate Bill 819 (SB 819)...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.

Final Regulations Issued Regarding Section 48 Investment Tax Credit

Baker Botts L.L.P. on

On December 12, 2024, the Internal Revenue Service (the “IRS”) and the Department of the Treasury (“Treasury”) published final regulations (the “final regulations”) regarding the energy credit under Section 48 of the Internal...more

Hogan Lovells

U.S. Department of Treasury issues final 45X advanced manufacturing production credit rules

Hogan Lovells on

Final 45X rules provide some important clarifications as to what is considered as produced in the U.S. for components and technical elements for certain components such as solar, battery storage, inverters, wind turbines and...more

ASKramer Law

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

ASKramer Law on

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

Sheppard Mullin Richter & Hampton LLP

Solar PV Project Repowering - Best Practices and Insights

In August 2022, the United States (U.S.) Congress passed the Inflation Reduction Act of 2022 (the “IRA”), landmark legislation that modified and extended the longstanding 30% investment tax credit (ITC) for solar photovoltaic...more

Clark Hill PLC

[Webinar] Preparing for Clean Energy Tax Credit Transfer Transactions - May 1st, 12:00 pm - 1:00 pm EDT

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Project developers in the EV, solar, wind, battery, CCUS, hydrogen, biofuels, and energy efficiency markets have been blessed by the IRS with the ability to transfer tax credits directly to willing buyers. Tax equity...more

Mitchell, Williams, Selig, Gates & Woodyard,...

IRS Releases 2024 Procedural Guidance for Solar and Wind Projects in Low Income Communities

Last week the Department of Treasury and Internal Revenue Services (IRS) issued procedural guidance for the second year of the Low-Income Communities Bonus Credit Program under Section 48(e) of the Internal Revenue Code...more

Akerman LLP

Maximizing Tax Credits by Installing Solar at LIHTC Projects

Akerman LLP on

The increased interest in installing solar at affordable housing projects is not surprising given that the IRC Section 48 energy investment tax credit (ITC) could subsidize as much as 70 percent of the cost and the Inflation...more

Wilson Sonsini Goodrich & Rosati

Treasury and IRS Release Proposed Regulations on Section 45X Advanced Manufacturing Credit

On December 15, 2023, 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 advanced manufacturing production...more

A&O Shearman

Inflation Reduction Act: New Guidance on Section 45X Manufacturing Tax Credits

A&O Shearman on

On December 14, 2023, the Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) released proposed regulation [REG-107423-23] to provide guidance on the manufacturing tax credit requirements under...more

Flaster Greenberg PC

Airport Electrification – Latest IRS Guidance

Flaster Greenberg PC on

The Department of the Treasury and Internal Revenue Service continue to issue guidance regarding the Inflation Reduction Act of 2022 (IRA), which modified and extended the clean energy investment tax credit (ITC) under...more

Holland & Knight LLP

Breaking Down the Section 48 Investment Tax Credit Proposed Regulations

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The U.S. Department of the Treasury and IRS on Nov. 17, 2023, released long-awaited proposed regulations (Proposed Regulations) regarding the investment tax credit (ITC) under Section 48 of the Internal Revenue Code. Section...more

Akerman LLP

October 19 – First Day to Submit Applications to the Low-Income Community Bonus Tax Credit Program

Akerman LLP on

The DOE Portal for submitting applications to the "Low-Income Communities Bonus Credit Program" for all four facility categories opens on October 19, 2023, at 9:00 am ET. All applications received by November 18 at midnight...more

DarrowEverett LLP

What IRS’s Low-Income Adder Guidance Means For Renewables Projects

DarrowEverett LLP on

The Inflation Reduction Act of 2022 (the “Act”) breathed new life into the tax scheme for renewable energy projects, creating a new base tax credit with a series of adders that can significantly increase viability of projects...more

Vinson & Elkins LLP

Treasury Issues Final Regulations on Low-Income Communities Bonus

Vinson & Elkins LLP on

On August 10, 2023, the Department of Treasury (the “Treasury”) and the Internal Revenue Service (the “IRS”) issued final regulations (the “Final Regulations”)1 providing additional guidance to taxpayers on the “Low-Income...more

Pillsbury Winthrop Shaw Pittman LLP

Treasury Department Announces Additional Guidance and Timetable to Allocate $4 Billion in Qualifying Advanced Energy Project...

The application cycle for the first round of credits will soon open. Treasury’s additional guidance clarifies what types of facilities may qualify for credits, the submission process and the selection criteria for evaluating...more

Allen Matkins

Renewable Energy Update - 2.16.23 - #3

Allen Matkins on

The Biden administration on Tuesday outlined how states and nonprofit groups can apply for $27 billion in funding from a “green bank” that will provide low-cost financing for projects intended to cut planet-warming greenhouse...more

McGuireWoods LLP

IRS Provides Carbon Capture Tax Credit Guidance and Safe Harbor

McGuireWoods LLP on

On Feb. 20, 2020, the IRS issued Notice 2020-12 and Revenue Procedure 2020-12 regarding carbon capture tax credits (IRC Section 45Q). Notice 2020-12 (the begin construction notice) provides guidance to determine when...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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