IRS T.D.: Clean Electricity Production, Investment Credits Guidance (IRC §45Y)

Final regulations on the clean electricity production credit under I.R.C. §48Y and the clean electricity investment credit under §48E that were established by the Inflation Reduction Act, the IRS released. The regulations provide rules for determining greenhouse gas emissions rates resulting from the production of electricity; petitioning for provisional emissions rates; and determining eligibility for the credits in various circumstances. The rules affect all taxpayers that claim the clean electricity production credit with respect to a qualified facility or clean electricity investment credit with respect to qualified facility or energy storage technology, as applicable, that is placed in service after ...