Renewable Energy Tax Credits: Recent IRS Notice Favorable To The Renewable Energy Industry – Energy and Natural Resources – United States

“As enacted, the PTC and the ITC presently are subject to a sunset and will expire. Eligibility for either credit hinges on the date on which construction of the facility begins. As part of the Protecting Americans from Tax Hikes Act of 2015 (the “PATH Act”), Congress extended the PTC for two years, extending the date before which construction must begin for certain facilities to January 1, 2017, and extended the PTC for five years with respect to wind facilities by providing that construction must begin before January 1, 2020. Congress also modified the PTC for wind facilities by providing that the credit will phase out over the next four years. In addition, the ITC has been extended for solar energy facilities the construction of which begins before January 1, 2022.”
http://www.mondaq.com/article.asp?articleid=494192&email_access=on

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s