The IRS and US Treasury Department issued new guidance Tuesday on the energy community bonus tax credit requirements in President Joe Biden’s tax-and-climate law.
Clean energy developers and investors can increase some credits by 10% by building facilities in an “energy community” that has been dependent on fossil fuels, according to the law.
The tax incentives will drive billions in new investments and make projects more financially viable, said Wally Adeyemo, deputy secretary of the Treasury, in a press call Monday.
Notice 2023-29 outlines what is considered an energy community and whether a project ...
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