The IRS and Treasury have proposed new guidance that explains how eligible facilities can qualify for “technology-neutral” clean electricity tax credits under the Inflation Reduction Act.
Treasury said the tech-neutral tax credits provide incentives to any clean energy facility that achieves net-zero greenhouse gas emissions, giving the facilities the ability for new zero greenhouse gas emission technologies to develop over time.
The proposed guidance identifies specific technologies that meet the environmental standards under the Inflation Reduction Act and would categorically qualify as zero greenhouse gas emissions for the Clean Electricity Production Credit and Clean Electricity Investment Credit.
The IRS will accept public comments on the proposed guidance for 60 days following publication in the Federal Register. Read more.