Recent News

Wednesday, May 27, 2020

The Internal Revenue Service today issued a notice to extend the continuity safe harbor for renewable energy production tax credit (PTC) and investment tax credit (ITC) properties that began construction in 2016 or 2017. Notice 2020-41 adds an extra year to the four-year continuity safe harbor in existing guidance, stating that those projects placed in service within five years will be deemed continuous.

Friday, May 22, 2020

Three Republican senators sent a letter Thursday to Treasury Secretary Steven Mnuchin, asking for relief from certain requirements for renewable energy investment tax credit (ITC) and production tax credit (PTC) properties due to the COVID-19 pandemic.

Thursday, May 14, 2020

The production tax credit (PTC) for electricity produced by wind will remain 2.5 cents per kWH in 2020, according to a notice published by the Internal Revenue Service. The IRS notice specifies that the PTC for wind–as well as closed-loop biomass and geothermal energy–stay at the same level as 2019.

Tuesday, May 12, 2020

House Democrats today unveiled a $3 trillion COVID-19 relief bill, their proposal for “Phase 4” of pandemic relief legislation. The Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act would provide nearly $1 trillion to state and local governments to avert layoffs and $200 billion in hazard pay for essential workers.

Friday, May 8, 2020

A letter from the U.S. Department of Treasury to a group of U.S. senators says rules will be issued to modify the continuity safe harbor for the renewable energy production tax credit and investment tax credit. The Treasury letter was in response to an earlier letter from the bipartisan group of senators that asked Treasury to extend the safe harbor from four years to five years for projects that began construction in 2016 or 2017.

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