Tax Incentives To Supercharge U.S. Clean Energy Transition
Jun 18, 2023
The U.S. Department of the Treasury and the Internal Revenue Service (IRS) have released guidance on key provisions in the IRA to expand the reach of the clean energy tax credits and help build projects more quickly and affordably.
With the detailed guidance on tax credits, the Biden Administration is giving – for the first time – tax-exempt entities such as states, territories, tribes, local governments, and nonprofits direct pay for building or participating in clean energy projects eligible for tax credits. Under this provision, a school district or a local government, for example, could buy electric vehicles for their fleets or add solar panels to city and school buildings.
