New Technology-Neutral Tax Credits for ITC and PTC Regimes: Application to Facilities, Rules and Requirements, Tax Equity

Note: CPE credit is not offered on this program

A live 90-minute premium CLE video webinar with interactive Q&A

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Tuesday, December 13, 2022 (in 4 days)

1:00pm-2:30pm EST, 10:00am-11:30am PST

or call 1-800-926-7926

This CLE webinar will provide an in-depth analysis of the new technology-neutral tax credits for the production tax credit (PTC) and investment tax credit (ITC) under the recently enacted Inflation Reduction Act of 2022 (the Act). The panel will discuss key provisions of the Inflation Reduction Act, rules and requirements of the technology-neutral tax credit, and the impact to PTC/ITC for renewable energy projects, as well as provide a critical analysis of these rules and next steps for sponsors, developers, and investors.

Description

The recently enacted Inflation Reduction Act extends or renews certain tax credits and other tax incentives while also providing a new technology-neutral tax credit regime for ITCs and PTCs. Energy counsel must grasp a complete understanding of key provisions of the new legislation and rules for claiming tax credits.

Both the ITC and PTC for renewable energy are critical components of successful project financing, significantly impacting ownership structures and available tax planning techniques. The PTC provides a credit for each kilowatt-hour of energy production for qualified renewable energy facilities. The ITC allows taxpayers to claim a credit for the cost of investment in qualified energy property.

The Act provides notable changes for ITC/PTC, such as the availability of such credits over the next few years, their applicability to battery storage, and new opportunities for hydrogen and nuclear projects, as well as for domestic manufacturing of components for wind and solar facilities.

A new technology-neutral tax credit applies to projects placed in service in 2025 or later and allows taxpayers to choose the PTC or ITC for all clean power technologies if all requirements are fulfilled.

Listen as our authoritative panel of energy counsel and tax professionals examines the benefits of the tax credits and discusses the recent legislation, critical requirements in claiming ITC and PTC, and the rules and requirements of the technology-neutral tax credit, as well as provides a critical analysis of next steps for sponsors, developers, and investors.

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Outline

  1. Overview of energy tax credit provisions under the Inflation Reduction Act
  2. Requirements for claiming PTC/ITC and impact of the new technology-neutral tax credit regime
  3. Avoiding mishaps that jeopardize PTC/ITC in light of the new technology-neutral tax credit regime
  4. Tax equity structuring considerations for renewable energy facilities and development

Benefits

The panel will review these and other key issues:

  • Key tax credit provisions of the Inflation Reduction Act of 2022 for renewable energy
  • Requirements for claiming the ITC and PTC and the impact of the new technology-neutral tax credit regime
  • Key issues under the new rules and techniques to avoid mishaps
  • Financing structures for renewable energy projects in light of the the Act

Faculty

Lefko, Hilary
Hilary Lefko

Partner
Norton Rose Fulbright US

Ms. Lefko focuses her practice on all areas of federal income tax law, with a particular emphasis on tax...  |  Read More

Medina, Jorge
Jorge Medina

Partner
Pillsbury Winthrop Shaw Pittman

Mr. Medina’s practice focuses on tax aspects of energy investment and financing transactions, including tax...  |  Read More

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