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Investment Tax Credits Production Tax Credit Solar Energy

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

ASKramer Law

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

ASKramer Law on

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

Wilson Sonsini Goodrich & Rosati

Treasury and IRS Release Long-Awaited Proposed Regulations on Section 48 Investment Tax Credits

On November 17, 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 investment tax credit (ITC) under...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

Morgan Lewis

Treasury and IRS Publish Long-Awaited Guidance on Renewable Energy Investment Tax Credit

Morgan Lewis on

The US Internal Revenue Service (IRS) and US Department of the Treasury (Treasury) released proposed regulations on November 17, 2023 addressing the investment tax credit (ITC) for renewable energy and energy storage...more

Foley & Lardner LLP

IRS Releases Long-Awaited Updates to Investment Tax Credit Regulations

Foley & Lardner LLP on

Late last week, the Internal Revenue Service (“IRS”) and Department of the Treasury released the long-awaited proposed regulations (the “Proposed Regulations”) relating to investment tax credits under Section 48 of the Code...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

Blank Rome LLP

Renewable Energy Tax Credits under the Inflation Reduction Act: Opportunities for Exempt Organizations

Blank Rome LLP on

The Inflation Reduction Act of 2022 (the “IRA” or “Act”) added and modified several renewable energy tax provisions under the Internal Revenue Code of 1986, as amended (the “IRC”).[1] These changes provide many opportunities...more

Troutman Pepper

Impacts of the Inflation Reduction Act on US Battery Developers

Troutman Pepper on

More batteries. More people. More urgency to reduce grid queues. These are three key demands from companies in the US battery storage sector if the industry is to take full advantage of the IRA, which became law last August. ...more

Pullman & Comley, LLC

Putting the ‘Green’ in Renewable Energy at Cannabis Grow Facilities

Pullman & Comley, LLC on

Growing four pounds of marijuana at an indoor facility can consume as much electricity as  the average American home uses in a year. Cannabis growth is now responsible for 1% of all U.S. electricity consumption per year, and...more

Troutman Pepper

Tax Issues for Co-location of Energy Storage with Solar or Wind

Troutman Pepper on

The Inflation Reduction Act (IRA) changed the game when it comes to battery storage and its qualifications for investment tax credits (ITC). Partners Christine Byrnes and Anne Loomis discuss the eligibility of energy storage...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

Locke Lord LLP

New York City’s Proposed “City of Yes ‎for Carbon Neutrality” ‎Zoning Initiative Offers ‎Potential ‎Renewable Energy Boom to...

Locke Lord LLP on

New York City Mayor Eric Adams recently officially unveiled a wide-ranging zoning initiative ‎proposal that, if passed by the City Council this October, will not only provide broad-ranging ‎new economic opportunities for...more

Locke Lord LLP

New IRS and Treasury Guidance on ‎Energy Community Bonus ‎Tax Credits Leaves as Many ‎Questions as ‎it Answers

Locke Lord LLP on

On April 4, 2023, the Department of Treasury (the “Treasury”) and the Internal Revenue Service (“IRS”) published Notice 2023-29, Energy Community Bonus Credit Amounts under the Inflation Reduction Act of 2022 (“the Notice”),...more

King & Spalding

H2ypothetical - Prevailing Wage and Apprenticeship Requirements

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The Inflation Reduction Act of 2022 (the Act) included multiple tax benefits for hydrogen production, storage and utilization, summarized in the following King & Spalding Client Alert. Many of these provisions became...more

McGuireWoods LLP

Inflation Reduction Act Extends and Modifies Tax Credits for Solar 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 impact on...more

McDermott Will & Emery

Key Takeaways | Hospitals and Renewable Energy: New Financial Incentives and Opportunities in the Inflation Reduction Act

McDermott Will & Emery on

During this webinar, Heather Cooper and Carl Fleming, partners in the McDermott’s energy & project finance group, teamed up with McDermott+Consulting’s Debra Curtis to break down the key opportunities and actionable steps...more

ArentFox Schiff

Here Comes the Sun: Treasury and IRS Request Input on Solar and Other Energy Incentives Under the Inflation Reduction Act

ArentFox Schiff on

Following the enactment of the Inflation Reduction Act (IRA) on August 16, the US Treasury Department (Treasury) and the Internal Revenue Service (IRS) recently issued six notices (the “Notices”) requesting comments on...more

Womble Bond Dickinson

Inflation Reduction Act Gives a Boost to the Biogas Sector

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​​​​​​​The $369 billion Inflation Reduction Act (the “Act”) enacted in August 2022 expanded and extended numerous tax credits and incentive programs for development of clean energy projects. The biogas industry is one sector...more

King & Spalding

H2ypothetical - Clean Electricity Credits

King & Spalding on

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

Troutman Pepper

Inflation Reduction Act of 2022: Summary Chart

Troutman Pepper on

Wind and Solar PTC and specified § 45 technologies - 100% of PTC rate (assuming labor requirements met) ...more

Ballard Spahr LLP

Inflation Reduction Act Tax Changes, Part 2 – Energy Credits and Incentives

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On Aug. 16, 2022, President Biden signed into law the Inflation Reduction Act of 2022 (IRA), which includes various amendments and additions to the Internal Revenue Code of 1986 (the Code). This is the second of two alerts...more

King & Spalding

H2ypotheticals - September 13, 2022

King & Spalding on

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

Harris Beach PLLC

Inflation Reduction Act to Energize Renewables and Energy Transition Projects

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The Inflation Reduction Act of 2022 (the “IRA”), signed by President Biden into law on August 16, promises to further invigorate an already booming sector of the economy – the renewables industry and energy transition sector....more

Womble Bond Dickinson

Landmark Federal Clean Energy/Climate Change Package Creates Wealth of Opportunities for Investors, Producers (UPDATED)

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​​​​​​​On August 16, 2022, President Biden signed the Inflation Reduction Act of 2022, paving the way for the largest investment in clean energy development and climate change mitigation in U.S. history. The Act will provide...more

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