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Renewable Energy Tax Credits Solar Energy

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

ASKramer Law

Energy Tax Credits For A New World Part III: Overview of Bonus Credits

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Why did the Inflation Reduction Act (IRA) reduce the base amounts of the energy tax credits? The IRA reduced base credit amounts from their pre-IRA levels to encourage energy projects to meet Congressional policy objectives....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

Ballard Spahr LLP

Regulators Focus on Solar Lending Industry

Ballard Spahr LLP on

On August 7, 2024, the CFPB published an Issue Spotlight on the solar lending industry. In conjunction with the CFPB’s Issue Spotlight, the CFPB, U.S. Department of Treasury, and the Federal Trade Commission also issued a...more

ASKramer Law

Q&A with Andie: Energy Tax Credits For A New World - Part I: Overview of Energy Tax Credits under the IRA

ASKramer Law on

Signed into law on August 16, 2022, the Inflation Reduction Act (IRA) is the most significant long-term commitment made by the U.S. government to encourage and support a clean energy future. The IRA modifies and revises the...more

Bennett Jones LLP

Clean Tech ITC Decoded: Benefits and Strategies for Canadian Businesses

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In the inaugural episode of Clean Incentives, hosts Brendan Sigalet and Derrick Osborne, alongside special guests Ashley White and Jason Roth, delve into the myriad of tax incentives available for businesses in Canada, with a...more

Miles & Stockbridge P.C.

Understanding the Brighter Tomorrow Act: A New Era for Solar Energy Development in Maryland

Maryland has long been a solar-friendly state, and the Brighter Tomorrow Act, signed into law by Gov. Wes Moore last month, will expand access and adoption of solar energy. The legislation is both a supportive and...more

Allen Matkins

Renewable Energy Update 6.03.24

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The California Independent System Operator’s board on May 23 approved a $6.1 billion, 10-year transmission plan that includes projects to deliver offshore wind to customers. Transmission projects to access clean energy...more

A&O Shearman

Navigating the new elective safe harbor for the Domestic Content Bonus Tax Credit

A&O Shearman on

The U.S. Treasury Department and the Internal Revenue Service have issued a new safe harbor that will make it easier for U.S. solar, onshore wind and battery storage projects with U.S.-sourced components to qualify for...more

Morgan Lewis

Elective Safe Harbor Released for IRA Domestic Content Tax Credit ‘Adder’

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The US Department of Treasury and the IRS on May 16 released Notice 2024-41, which provides a new elective safe harbor that taxpayers may use to qualify for the domestic content bonus credit amount under Sections 45, 45Y, 48,...more

Saul Ewing LLP

Open for Business: Maryland’s Brighter Tomorrow Act Paves the Way for More Solar Energy Investment in Maryland

Saul Ewing LLP on

On May 10, 2024, Maryland Governor Wes Moore signed the Brighter Tomorrow Act (the “Act”) into law. The Act expands the types of solar facilities that qualify for subsidy, improves the level of subsidy, and through many...more

Allen Matkins

Renewable Energy Update 5.07.24

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Governor Gavin Newsom said on April 25 that California continued to rapidly add the battery storage that is crucial to the transition to cleaner energy, but admitted it was still not enough to avoid blackouts during heat...more

Allen Matkins

Renewable Energy Update 4.08.24

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The California Independent System Operator (CAISO) is proposing $6.1 billion in transmission projects, primarily to help deliver offshore wind to customers, according to a draft transmission plan released on April 1....more

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

Jones Day

New French Incentives for Green Buildings and Green Industry

Jones Day on

As part of the 2022 French Climate & Resilience Law, the French legislature decided to strengthen the greening and solarization requirements on certain buildings and parking lots. These obligations came into force on January...more

Allen Matkins

Renewable Energy Update 3.07.24

Allen Matkins on

The U.S. Department of the Treasury and IRS have released final rules on Inflation Reduction Act provisions that aim to expand the reach of the clean energy tax credits. The Act created the new elective pay and...more

Foley Hoag LLP - Energy & Climate Counsel

DPU Issues Long-Anticipated Net Metering Ruling

On February 15, 2024, the Massachusetts Department of Public Utilities (“DPU”) issued a much-anticipated order in docket D.P.U. 21-100 that finally promulgates regulations (220 CMR 18.00) to implement 2021 statutory changes...more

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

Solar Projects? It's Time for Governmental and Tax-Exempt Entities to File for Applicable Tax Credits

As provided for in the 2022 Inflation Reduction Act (or IRA), entities not subject to taxation such as cities, counties, municipal utilities, school districts and 501(c)(3) organizations (or tax-exempt entities) can now take...more

Mayer Brown

Proposed Regulations on Section 45X Advanced Manufacturing Production Tax Credit

Mayer Brown on

On December 14, 2023, the Department of Treasury (“Treasury”) and the Internal Revenue Service (“IRS”) released proposed regulations to implement the Section 45X advanced manufacturing production credit established by the...more

Troutman Pepper

IRS Issues Proposed Guidance on Advanced Manufacturing Production Tax Credit Under IRA

Troutman Pepper on

On December 14, the Department of the Treasury and the Internal Revenue Service (IRS), issued proposed regulations providing guidance on the Advanced Manufacturing Production Credit (Section 45X Credit), established by the...more

Allen Matkins

Renewable Energy Update 12.21.23

Allen Matkins on

The Bureau of Ocean Energy Management (BOEM) will be conducting a regional environmental review of potential development activities on the five offshore wind lease areas off California’s central and north coasts....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

Holland & Knight LLP

An In-Depth Look at Section 45X Proposed Regulations

Holland & Knight LLP on

The U.S. Department of the Treasury and IRS on Dec. 14, 2023, released Proposed Regulations regarding the Section 45X Advanced Manufacturing Production Credit of the Internal Revenue Code. (See Holland& Knight's previous...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

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