Date: 01/07/2025
Type: Implementation of IRA
On January 7, 2025, Treasury and the IRS issued final rules for the sections 45Y and 48E technology-neutral Clean Electricity Investment and Production Tax Credits, replacing the prior section 45 and section 48 Production and Investment Tax Credits. Qualified facilities for Section 45Y and 48E credits are determined by life-cycle analyses calculating total greenhouse gas emissions rates from energy production, including storage capacity.
IRA sections 13701 and 13702 created the new sections 45Y and 48E Clean Electricity Investment and Production Tax Credits available to qualified facilities placed in service after December 31, 2024 with greenhouse gas emissions rates of zero.