Agency: Department of the Treasury
-
Advanced Energy Project Credit
Agency: Department of the Treasury Description: Credit for eligible projects, including but not limited to investments reequipping, expanding or establishing industrial or manufacturing facilities for production or recycling of certain renewable energy, renewable fuel (defined as low-carbon and low-emission), electric grid equipment, CCS, energy conservation and storage, energy efficiency, certain hybrid, fuel cell, and…
-
Advanced Manufacturing Production Credit
Agency: Department of the Treasury Description: Tax credit for manufacturing components related to wind and solar, batteries, and minerals Bill Section: 13502 US Code: 26 USC 45X New or Existing: New Potential Cost: $30,600,000,000 Timeline: 2023 – 2032 overall but different requirements in statute including phase-out TCS Notes: $4.6 billion of…
-
Alternative Fuel Refueling Property Credit
Agency: Department of the Treasury Description: Tax credit for certain fueling equipment for 85% ethanol, natural gas, compressed or liquified natural gas, liquefied petroleum gas or hydrogen; 20% (or more) biodiesel; or electricity. Bill Section: 13404 US Code: 26 USC 30C New or Existing: Existing Potential Cost: $1,700,000,000 Timeline: 2022 – 2032…
-
Energy Efficient Commercial Buildings Deduction
Agency: Department of the Treasury Description: Tax deduction of for the cost of energy efficient commercial building property, calculated by the size of the building. Bill Section: 13303 US Code: 26 USC 179D New or Existing: Existing Potential Cost: $362,000,000 Timeline: Property placed in service in 2023 and after Implementation Status/Rulemaking: …
-
Clean Vehicle Credit
Agency: Department of the Treasury Description: Tax credit for the purchase of certain new electric vehicles. Bill Section: 13401 US Code: 26 USC 30D New or Existing: Existing Potential Cost: $7,541,000,000 Timeline: 2023 – 2032 Implementation Status/Rulemaking: On October 5, 2022, the Internal Revenue Service issued Notice 2022-46 which requests comments…
-
Credit for Previously-Owned Clean Vehicles
Agency: Department of the Treasury Description: Tax credit of 30% of the sale price of a previously owned electric vehicle but no more than $4,000 Bill Section: 13402 US Code: 26 USC 25E New or Existing: New Potential Cost: $1,347,000,000 Timeline: 2023 – 2032 Implementation Status/Rulemaking: Guidance on the Used Clean…
-
Credit for Qualified Commercial Clean Vehicles
Agency: Department of the Treasury Description: Tax credit for certain electric and hydrogen powered fuel cell commercial vehicles Bill Section: 13403 US Code: 26 USC 45W New or Existing: New Potential Cost: $3,583,000,000 Timeline: 2023 – 2032 Implementation Status/Rulemaking: On November 3, 2022, the Internal Revenue Service issued Notice 2022-56 which…
-
Clean Fuel Production Credit
Agency: Department of the Treasury Description: Tax credit of $0.20-$1.00/gallon for production of fuels with carbon intensity reductions (less than 50 kilograms of CO2e per mmBTU); sustainable aviation fuel could receive credit of up to $1.75/gallon, with a minimum of $0.35/gallon. Bill Section: 13704 US Code: 26 USC 45Z New or Existing: New Potential…
-
Renewable electricity production tax credit (PTC)
Agency: Department of the Treasury Description: For closed- and open-loop biomass (latter includes livestock waste) facilities, landfill gas or trash facilities, qualified hydropower, marine and hydrokinetic, wind, and geothermal or solar energy. Also known as the Production Tax Credit (PTC) and Investment Tax Credit (ITC). Bill Section: 13101 US Code: 26 USC 45(d) and…
-
Clean Electricity Production Credit
Agency: Department of the Treasury Description: Phased tax credit for zero-emission electricity production Bill Section: 13701 US Code: 26 USC 45Y New or Existing: New Potential Cost: $11,200,000,000 Timeline: 2025 through phase out beginning in 2032 or the calendar year in which annual GHG emissions from US electricity production are less than…