Recent News

Thursday, July 18, 2019

A coalition of nearly 1,000 solar companies sent a letter to Congress this week calling for multiyear extensions for the renewable energy investment tax credit (ITC) and the Internal Revenue Code Section 25D credit for residential energy efficient property. The Solar Energy Industries Association headlined the effort. Unless Congress acts, the 30 percent ITC will begin a phasedown at the beginning of 2020.

Thursday, July 18, 2019

The Internal Revenue Service (IRS) will publish in Friday’s Federal Register its final regulations concerning the tax treatment of lessees of investment credit property following an election under Internal Revenue Code Section 50(d)(5).

Friday, June 28, 2019

A federal court released opinions siding with the government in two cases where taxpayers claimed developer fees to a related person in their costs while claiming cash grants under the Treasury Department’s renewable energy Section 1603 grant program. In both California Ridge Energy LLC vs.

Thursday, June 27, 2019

Legislation introduced in both houses of Congress would extend the 30 percent renewable energy investment tax credit (ITC) through 2025 for offshore wind. The Offshore Wind Incentives for New Development (WIND) Act would allow offshore wind projects to receive the ITC if they begin construction before Jan. 1, 2026. The ITC is currently scheduled to phase down to 10 percent in 2022. Six senators co-sponsored the legislation, while Rep.

Tuesday, June 11, 2019

The Internal Revenue Service (IRS) published a notice that provides the inflation adjustment factors to calculate the renewable energy production tax credit (PTC) for 2019. The PTC for electricity produced from wind–as well as closed-loop biomass and geothermal energy–increased from 2.4 cents per kWH to 2.5 cents. The notice also includes the PTC amounts for other forms of energy.

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Novogradac 2019 Financing Renewable Energy Tax Credits Conference Parc 55 San Francisco, a Hilton Hotel May 23-24, 2019