Tag: IRS

IRS Issues Clarification Regarding “Binding Written Contract” in its “Start of Construction” Guidance for PTC or ITC Energy Credits

By Greg Jenner on April 26, 2013 Posted in Tax, Wind

As we originally noted, the IRS guidance issued April 15 regarding the "start of construction" requirement for energy projects to qualify for PTC or ITC contained a "big surprise" regarding its definition of a binding contract. Unlike previous incentive programs, the guidance provided that contracts that limit damages to a specified amount, such as by … Continue Reading

Treasury Issues Guidance on Applications for Grants in Lieu of the ITC and the PTC

By William H. Holmes on July 9, 2009 Posted in Climate Change, Geothermal, Ocean/Wave Energy, Renewable, Show Me the Money, Solar, Tax, Wind

The American Recovery and Reinvestment Act of 2009 (ARRA), which was enacted in February, permits an applicant to receive a grant from Treasury in lieu of claiming investment tax credits (ITCs) or production tax credits (PTCs). Today the U.S. Treasury Department issued much-anticipated guidance concerning applications to receive cash grants in lieu of claiming … Continue Reading