Treasury Seeks Public Input on Guidance for Clean Energy Provisions in Inflation Reduction Act
The U.S. Department of the Treasury today issued six notices seeking public input on climate and clean energy incentives including renewable energy tax credits (RETCs) such as the production tax credit (PTC) and investment tax credit (ITC) related to the Inflation Reduction Act (IRA) passed in August. The notices, which cover energy generation incentives, credit enhancements, incentives for homes/buildings, consumer vehicle credits, manufacturing credits and credit monetization, request input on specific questions as well as solicit general comments. Further opportunities for public input will come at later dates. Today’s release also includes a fact sheet with additional information about the notices and the Internal Revenue Service’s plan for implementation. Treasury requested responses for the six proposals released today by Nov. 4.
Novogradac offers several resources about the guidance, such as recent Tax Credit Tuesday podcast episodes on what the IRA means for renewable energy as well as its impact on affordable housing; and Novogradac’s Renewable Energy Working Group.
The IRA provisions will also be a central topic at the Novogradac 2022 Fall Renewable Energy and Environmental Tax Credits Conference from Nov. 3-4 at the Park Hyatt in Washington, D.C.