⚡Clean Electricity Production & Investment Tax Credit Regulations Summary
Section 45Y Clean Electricity Production Credit and Section 48E Clean Electricity Investment Credit
Summary
This document sets forth final regulations regarding the clean electricity production credit and the clean electricity investment credit established by the Inflation Reduction Act of 2022. These final regulations provide rules for determining greenhouse gas emissions rates resulting from the production of electricity; petitioning for provisional emissions rates; and determining eligibility for these credits in various circumstances. The final regulations affect all taxpayers that claim the clean electricity production credit with respect to a qualified facility or the clean electricity investment credit with respect to a qualified facility or energy storage technology, as applicable, that is placed in service after 2024.
Agencies
- Treasury Department
- Internal Revenue Service
Business Impact
$$ - Med
The regulations establish tax credits for clean electricity production and investment, potentially influencing business investments in renewable energy. Compliance with new greenhouse gas emissions requirements could impact operational strategies for businesses seeking these credits.