Agency: Department of the Treasury

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…

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…

Agency: Department of the Treasury   Description: Tax credit for solar, geothermal, fuel cell, microturbine, combined heat and power, wind, and waste energy recovery property; plus new provisions for energy storage technology, biogas, and microgrid controllers. Bill Section: 13102 US Code: 26 USC 48 New or Existing: Existing Potential Cost:      $14,000,000,000 Timeline:      Beginning…

Agency: Department of the Treasury   Description: Phased tax credit for electricity investments “for which the anticipated GHG emissions rate is not greater than zero.” Bill Section: 13702 US Code: 26 USC 48E New or Existing: New Potential Cost:      $50,900,000,000 Timeline:      2025 through phase out beginning in 2032 or the calendar year in…

Agency: Department of the Treasury   Description: Investment tax credit for small-scale solar and wind facilities in low-income communities. Bill Section: 13103 US Code: 26 USC 48(e) New or Existing: New Potential Cost:      N.A. Timeline:      2023 to until 48E(h) becomes available Implementation Status/Rulemaking:    On Feb. 13, 2023, the Internal Revenue Service issued…

Agency: Department of the Treasury   Description: Provides an additional tax deduction for facilities or property qualifying for the Clean Electricity Investment Tax Credit. These facilities or property will be treated as a 5-year property for purposes of cost recovery; meaning, they will be able to deduct from their taxable income the depreciating value of…

Agency: Department of the Treasury   Description: Tax credit of 30% for individuals implementing “qualified energy efficiency improvements” for certain “residential energy property expenditures” and home energy audits. Bill Section: 13301 US Code: 26 USC 25C New or Existing: Existing Potential Cost:      $12,451,000,000 Timeline:      2022-2032 Implementation Status/Rulemaking:    On August 4, 2023, the…

Agency: Department of the Treasury   Description: Tax credit for electricity produced at qualified nuclear power facilities. Bill Section: 13105 US Code: 26 USC 45U New or Existing: New Potential Cost:      $30,000,000,000 Timeline:      Through 2032 Implementation Status/Rulemaking:    On October 5, 2022, the Internal Revenue Service issued Notice 2022-49 to requested comments on…

Agency: Department of the Treasury   Description: Tax credit of up to 30% (varying amounts depending on year) for expenditures for certain solar electric, solar water heater, fuel cell, small wind, geothermal heat pump, and battery storage technologies. Bill Section: 13302 US Code: 26 USC 25D New or Existing: Existing Potential Cost:      $22,000,000,000 Timeline:…

Agency: Department of the Treasury   Description: Tax credit for certain energy efficient homes, those meeting the Energy Star requirements or the Zero Energy Ready Home standards. Bill Section: 13304 US Code: 26 USC 45L New or Existing: Existing Potential Cost:      $2,043,000,000 Timeline:      2022 – 2032 Implementation Status/Rulemaking:    On Sept. 27, 2023,…