Treasury and IRS Unveil New Clean Energy Tax Credit Guidelines
The U.S. Department of the Treasury and IRS have released proposed guidance on the Clean Electricity Production Credit and Clean Electricity Investment Credit under the Inflation Reduction Act. These credits, effective from 2025, aim to incentivize net-zero greenhouse gas emissions technologies, providing long-term clarity for clean energy developers and investors. The guidance identifies eligible technologies and seeks public comments to refine the rules, aiming to bolster clean energy production, reduce consumer energy costs, and support American jobs.