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Jones Day

The Climate Report | Third Quarter 2024

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REGULATORY ISSUES & UPDATES - Update on Australia's New Climate-Related Financial Disclosure Regime - Australia's mandatory climate-related financial disclosure regime is inching closer to implementation after the proposed...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

Jones Day

Taxing Tangle: U.S. IRS Releases Guidance for Clean Hydrogen Production Tax Credit

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The U.S. Internal Revenue Service ("IRS") has released proposed regulations regarding the Clean Hydrogen Production Tax Credit introduced in the Inflation Reduction Act of 2022 ("IRA"). The proposed regulations provide more...more

Jones Day

Navigating the Emerging Market for Green Energy Tax Credits

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The Inflation Reduction Act of 2022 (the "IRA")—President Biden's landmark climate change legislation—created or expanded tax credits for various renewable energy sources, including wind, solar, and hydropower, as well as for...more

Baker Botts L.L.P.

Proposed Regulations Regarding Section 48E Clean Electricity Low-Income Communities Bonus Credit Program

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On September 3, 2024, the Internal Revenue Service (“IRS”) and the Department of the Treasury (“Treasury”) published proposed regulations relating to the Clean Electricity Low-Income Communities Bonus Credit Program (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

Baker Donelson

Clean Energy Credits Under the Inflation Reduction Act: Credit Sales and Prevailing Wage Bonus

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The Internal Revenue Service (IRS) and the Department of the Treasury (DOT) released regulations on Section 6418 of the Internal Revenue Code of 1986, as amended (the Code), on July 1, 2024, concerning the transfer of certain...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

K&L Gates LLP

Carbon Quarterly – Volume 9

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Carbon Quarterly is a newsletter covering developments in carbon policy, law, and innovation. No matter your views on climate change policy, there is no avoiding an increasing focus on carbon regulation, resiliency planning,...more

ASKramer Law

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

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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

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

Clean Energy Tax Credits for Tax Year 2023: Internal Revenue Service Issues Statistical Chart

The Internal Revenue Service (“IRS”) issued an August 7th news release providing statistics on the Inflation Reduction Act (“IRA”) clean energy tax credits for the tax year 2023. The news release says that tax payers have...more

Bergeson & Campbell, P.C.

IRS Posts FAQs about Applying for Registration for the Clean Fuel Production Credit

On July 10, 2024, the Internal Revenue Service (IRS) announced that it issued frequently asked questions (FAQ) in Fact Sheet 2024-25 related to which entities must apply for registration for the Clean Fuel Production Credit....more

Goldberg Segalla

You Say You Want a (Heavily Subsidized) Revolution: New Clean-Fuel Tech could Provide Endless Green Mileage

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Tech-savvy energy producers are currently looking for economically viable methods to create “green hydrogen” from water using renewable electricity. This technology, which can produce clean fuel for planes, ships, and trucks,...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

Faegre Drinker Biddle & Reath LLP

IRS Announces Final Regulations Implementing Prevailing Wage and Apprenticeship Requirements for Clean Energy Projects Under the...

On June 18, 2024, the U.S. Treasury Department and the Internal Revenue Service (IRS) published final regulations implementing the prevailing wage and apprenticeship requirements for clean energy tax credits for construction...more

Goldberg Segalla

Federal Agencies Join White House in Outlining Principles for Voluntary Carbon Markets

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On May 28, multiple federal agencies in conjunction with the White House published a Joint Policy Statement that laid out the principles for the further development of future, high-integrity voluntary carbon-credit markets....more

Orrick, Herrington & Sutcliffe LLP

Treasury and IRS Release Final Regulations on Prevailing Wage and Apprenticeship Requirements Under the Inflation Reduction Act

The U.S. Department of the Treasury and the Internal Revenue Service have released final regulations outlining how taxpayers can seek increased tax benefits by meeting prevailing wage and apprenticeship (PWA) requirements on...more

Cadwalader, Wickersham & Taft LLP

Everything You Need to Know About Energy Tax Credit Sales

The Inflation Reduction Act of 2022 (the “IRA”) now allows firms to develop and sell clean energy tax credits.  ...more

Holland & Knight LLP

The Technology-Neutral Sections 45Y PTC and 48E ITC Are Coming

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The U.S. Department of the Treasury and IRS on May 29, 2024, issued proposed regulations under the new Internal Revenue Code (Code) Section 45Y Clean Electricity Production Tax Credit (PTC) and Section 48E Clean Electricity...more

Troutman Pepper

Fueling Up: How to Make U.S. Clean Hydrogen Projects Happen

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We are pleased to announce the release of our latest whitepaper, Fueling Up: How to Make U.S. Clean Hydrogen Projects Happen. This comprehensive report explores the critical steps needed to unlock the potential of clean...more

Akin Gump Strauss Hauer & Feld LLP

This Week’s Climate Policy Update - 2024 #3

Good morning! This is Akin’s newsletter on climate change policy and regulatory developments, providing information on major climate policy headlines from the past week and forthcoming climate-related events and hearings...more

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