Tag: tax credit

  • IRS adds 446 counties to list qualifying for Energy Communities tax credit

    The Internal Revenue Service added 446 more U.S. counties to the list where renewable energy projects could qualify for a 10% Energy Community tax credit bonus under the Inflation Reduction Act. The 446 counties are in statistical areas that the IRS identifies as potential energy communities. Not all of the 446 qualify for the bonus……

  • Feds release final rules on direct pay provisions in IRA

    The U.S. Department of the Treasury and the Internal Revenue Service have released final rules on the direct pay provisions included in the Inflation Reduction Act (IRA). The tax credits are part of the Biden-Harris administration’s “Investing in America” agenda to help build projects more quickly and affordably. The IRA created two new credit delivery……

  • IRA solar tax credit transfers explained for companies with low (or no) tax liability

    This explainer was contributed by Laura Jones and Jason R. Eisenberg with Hunton Andrews Kurth LLP in Richmond, Va. The Inflation Reduction Act (IRA) significantly altered the landscape for the transferability of energy tax credits. The IRA added Section 6418 to the Internal Revenue Code, which permits eligible taxpayers (transferors) to transfer (sell) certain renewable……

  • Plus Power raises $1.8 billion for standalone storage buildout | Solar Financing Spotlight

    Plus Power has secured $1.8 billion in new financing for standalone battery storage, including the largest single such project financing to date, to help stabilize the U.S. electrical grid while incorporating more solar and wind energy. Read more about this and other financing news in our Solar Financing Spotlight. Plus Power’s major funding announcement includes……

  • Federal solar tax credits explained for your business

    The following piece was submitted by Robert L. Rojas, CPA, M.S. – Taxation, CExP, and J. Michael Pusey, CPA, Rojas & Associates. Accessing solar credits is an important consideration for more businesses given amendments in the latter half of 2022. Our topic has become more important to more business decision-makers while also becoming more complicated……