IRS Publishes Reference Price for PTC for Facilities Producing Electricity from Wind

Thursday, June 22, 2023 - 9:00AM

The Internal Revenue Service (IRS) published a notice in Wednesday’s Federal Register, setting the 2023 reference price for the renewable energy production tax credit (PTC) for facilities producing electricity from wind. The 2023 reference price is 3.74 cents per kilowatt hour, which is 0.99 cents more than the 2022 figure. The IRS said that reference prices for other facilities producing electricity–closed-loop biomass, open-loop biomass, geothermal energy, solar energy, municipal solid waste, qualified hydropower production and marine and hydrokinetic renewable energy–have not been determined for calendar year 2023.

Stay up to date on developments in the clean energy world with a subscription to the Novogradac Journal of Tax Credits.

Update: Corrects that price is reference price, not wind PTC rate.

Learn more about Novogradac's expertise and many services