Department of the Treasury

Section 13302 of the IRA modifies the Residential Energy Efficient Property Credit established in section 25D of the IRC. The credit has been renamed the Residential Clean Energy Credit. The ...Read More

Section 13303 of the IRA expands the existing Energy Efficient Commercial Buildings Deduction established in section 179D of the IRC. Section 179D of the IRC allows a taxpayer who owns or leases a ...Read More

Section 13304 of the IRA extends and expands the New Energy Efficient Home Credit established in section 45L of the IRC. The credit is available to homeowners that satisfy either energy saving or Zero ...Read More

Section 13401 of the IRA modifies the tax credit for clean vehicles established in section 30D of the IRC. Beginning in 2023, in order for an electric vehicle to qualify for the credit, the battery ...Read More

Section 13402 of the IRA inserts a new section 25E into the IRC. Under the new section 25E, certain purchasers of used clean vehicles will be eligible for a tax credit of up to 30% of the vehicle's ...Read More

Section 13403 of the IRA inserts a new section 45W into the IRC. Under the new section 45W, certain purchasers of clean commercial vehicles will be eligible for a tax credit of up to $7,500 for ...Read More

Section 13404 of the IRA extends the tax credit for EV chargers and alternate refueling property established in section 30C of the IRC. The tax credit expired on December 31, 2021. The IRA extended ...Read More

Section 13501 of the IRA expands the Advanced Energy Project credit in section 48C of the IRC. Prior to enactment of the IRA, the credit was available for qualifying advanced energy projects that ...Read More

Section 13502 of the IRA inserts a new section 45X into the IRC, providing a tax credit for U.S.-made wind, solar, and battery power components produced and sold after December 31, 2022, known as the ...Read More

Section 13601 of the IRA increases the tax imposed crude oil received at a U.S. refinery, and petroleum products entered into the U.S. for consumption, use, or warehousing under 26 U.S.C. § 4611. That ...Read More