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Emilie McNally

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The Inflation Reduction Act of 2022 (IRA) created a 10% tax credit adder to encourage the use of “domestic content” in renewable projects that qualify for the production tax credit (PTC) and investment tax credit (ITC). Projects built using the required amounts of U.S.-produced steel, iron and manufactured products can receive a significant 10% increase to the credits. Taxpayers have been eagerly anticipating Treasury and IRS guidance on this credit adder since the IRA was signed into law in August 2022.…

Continue Reading Domestic Content 10% Bonus Guidance Released (IRS Notice 2023-38)

The Inflation Reduction Act of 2022 (IRA) created several new tax incentives to encourage the development of clean energy projects that would benefit specific communities. Among these incentives, Congress included a tax credit adder for the production tax credit (PTC) and investment tax credit (ITC) for projects in “energy communities.” The energy community adder gives a 10% multiplier to a project’s PTC value and a potential 10% addition to the ITC rate. On April 4, 2023, the IRS released Notice 2023-29 to outline the rules for claiming the energy community enhanced tax credits under Internal Revenue Code Sections 45, 45Y, 48 and 48E.…

Continue Reading IRS Issues Guidance for Energy Community Bonus Tax Credits – Notice 2023-29

On Aug. 16, 2022, President Joe Biden signed into law the Inflation Reduction Act of 2022 (IRA), which includes new and revised tax incentives for clean energy projects. This alert provides a summary of the IRA impact on solar energy tax credits, which were extended and significantly expanded. Additional alerts will provide summaries of the IRA’s impact on other clean energy technologies.…

Continue Reading Inflation Reduction Act Extends and Modifies Tax Credits for Solar Projects

On Dec. 2, 2022, the U.S. Department of Commerce (DOC) released its preliminary determinations over the ongoing investigation into whether solar cells and modules imported from certain Southeast Asian countries were circumventing U.S. duties on solar modules manufactured in the People’s Republic of China.

These findings arrive in the wake of a two-year moratorium on tariffs on solar cells and modules imported from Cambodia, Malaysia, Thailand and Vietnam, as a result of Presidential Proclamation 10414.

The investigation, which began in March 2022, was prompted by allegations made by U.S.-based solar manufacturers against their Chinese competitors, claiming that the accused companies were evading tariffs by selling their products through the four Southeast nations.   

The DOC released its preliminary determinations after a thorough investigation into eight companies based in the four Southeast Asian countries. The DOC preliminarily concluded that four of the eight companies were bypassing U.S. tariffs by exporting Chinese-made solar modules that were only sent to Southeast Asia for minor processing before shipment. The table below summarizes the DOC’s preliminary findings.…

Continue Reading Commerce Department Releases Preliminary Findings on Chinese Solar Manufacturers’ Alleged Circumvention

On Sept. 16, 2022, the Department of Commerce (DOC) issued its final rule effectuating a two-year moratorium on tariffs on certain solar cells and modules exported from Cambodia, Malaysia, Thailand and Vietnam.

As discussed in McGuireWoods’ June 7, 2022, alert, “President Biden Orders Tariff Exemption for Solar Panels,” President Biden’s Proclamation 10414 issued on June 6, 2022, declared an emergency and authorized the Secretary of Commerce to allow the importation of solar cells and modules exported from Cambodia, Malaysia, Thailand and Vietnam for up to two years. …
Continue Reading Department of Commerce Issues Final Rule Imposing Tariff Moratorium for Solar Panels

On Aug. 16, 2022, President Biden signed into law the Inflation Reduction Act of 2022 (IRA), which includes new and revised tax incentives for clean energy projects. The IRA extends and significantly modifies the federal tax credits available for wind energy projects. This alert provides a summary for the wind industry. Additional alerts will provide summaries of the IRA focused on other clean energy technologies.
Continue Reading Inflation Reduction Act Extends and Modifies Tax Credits for Wind Projects

On July 27, 2022, U.S. Senate Majority Leader Chuck Schumer (D-N.Y.) and Sen. Joe Manchin (D-W.V.) introduced the Inflation Reduction Act of 2022, which proposes new and revised tax incentives for clean energy. The bill incorporates many, but not all, of the original proposals from last year’s Build Back Better Act. …
Continue Reading U.S. Senate Introduces the Inflation Reduction Act

Yesterday, June 6, 2022, President Biden ordered various emergency measures to combat a shortage of solar modules and related components in the United States, including declaring a tariff exemption of up to two years on certain solar cells and modules exported from Cambodia, Malaysia, Thailand and Vietnam.
Continue Reading President Biden Orders Tariff Exemption for Solar Panels

On March 28, 2022, the U.S. Department of Commerce (DOC) announced it is investigating whether imports of solar panels assembled in Cambodia, Malaysia, Thailand and Vietnam are circumventing duties intended to limit imports of solar cells and panels from China, in violation of anti-dumping rules. The announcement of an investigation is already impacting current and future solar developments using crystalline silicon photovoltaic cells (CSPV).
Continue Reading U.S. Department of Commerce Investigation of Solar Panel Imports Puts Solar Projects at Risk

On March 25, 2022, the Biden-Harris administration issued a press release announcing a May 11, 2022, wind energy auction of 110,091 acres in the Carolina Long Bay offshore wind energy area off North Carolina’s coast. This announcement marks a tangible step closer to the Biden-Harris administration and state of North Carolina’s clean energy goals of achieving 30 GW and 2.8 GW, respectively, of offshore wind power by 2030.
Continue Reading Biden’s Path to Clean Energy: May 11 North Carolina Offshore Wind Lease Auction