Proposed Green Energy Tax Credit Regs Would Tighten Requirements

Recent Treasury regulatory proposals for clean energy vehicle and production tax credits should allow continuation of the investment boom in the related industries while implementing provisions toward conservation goals. The guidance is intended to further President Biden’s Investing in America agenda, support U.S. jobs, and bolster energy production and security while reducing energy costs for American consumers.

REG-119283-23, released June 3, 2024, proposes rules for the I.R.C. §45Y Clean Electricity Production Credit and §48E Clean Electricity Investment Credit established by the Inflation Reduction Act (IRA) of 2022, for facilities starting construction after December 31, 2024, on which date the ...