EPA Announces $20 Billion in Grant Awards Through Greenhouse Gas Reduction Fund

The U.S. Environmental Protection Agency (EPA) today announced $20 billion in grant awards for two categories in the Greenhouse Gas Reduction Fund (GRRF), which was created by the Inflation Reduction Act of 2022. Three organizations will receive a combined $14 billion in grants under the National Clean Investment Fund and five organizations will receive a combined $6 billion in grants in the Clean Communities Investment Accelerator.

IRS Clarifies Capacity Limitations for 2024 Round of Low-Income Communities ITC Adder

The Internal Revenue Service (IRS) today issued guidance providing the capacity limitations for the four project categories in the 2024 program round of the 1.8-gigawatt low-income communities bonus credit program established in 2022’s Inflation Reduction of Act (IRA) for solar and wind projects using the investment tax credit (ITC).

IRS Issues Guidance for Energy Communities and Bonus Credit Program

The Internal Revenue Service (IRS) issued Notice 2024-30 today to expand certain rules for determining what an energy community is for the production and investment tax credits. The Inflation Reduction Act of 2022 (IRA) allows for increased tax credit amounts or rates if certain requirements are met relating to energy communities.

Treasury Analysis Shows IRA-Fueled Investments Going to 'Energy Communities'

The U.S. Department of Treasury today published analysis on the success of the Inflation Reduction Act (IRA) of 2022 in driving clean energy investment to "energy communities"–those communities historically dependent on fossil fuel energy jobs and tax revenues, including areas with closed coal mines or coal-fired power plants.

IRS Announces Elective Pay Final Regulations for Renewable Energy ITCs

The Internal Revenue Service (IRS) announced Tuesday it will issue in the March 11 Federal Register elective pay final regulations for the renewable energy investment tax credit (ITC). The decision adopts and codifies temporary regulations issued in June 2023 with slight modifications after two rounds of public comments, including a comment letter and testimony from the Renewable Energy Working Group, hosted by Novogradac.