Tag: tax credits

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

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

Projects & Money 2011

As we approach the beginning of a new year, financing options for energy projects (both conventional and renewable) under the current economic conditions continue to be a challenge and a focal point for the energy industry.  In order to gear up for financing opportunities in 2011,  I, along with my colleagues Marcus Wood, Graham Noyes and Adam … Continue Reading

The Wind Energy Promotion Act: Turbo Charging the Renewable Energy Production Tax Credit

U.S. Representatives Collin Peterson (MN) and Tim Walz (MN) introduced the Wind Energy Promotion Act (WEPA) last month. If WEPA becomes federal law, the Renewable Energy Production Tax Credit (PTC) promises to become an even more potent driver for wind power project development. Under current law, the PTC may only be used to shelter passive … Continue Reading

Treasury, Energy Announce More than $3 Billion in Recovery Act Funds for Renewable Energy Projects

  Today, the U.S. Department of the Treasury (the "Treasury") and the U.S. Department of Energy (the "DOE") announced an estimated $3 billion for the development of renewable energy projects around the country.  Funded through the American Recovery and Reinvestment Act ("ARRA"), the program will provide direct payments in lieu of tax credits in support of … Continue Reading
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