Solar and wind tax credits aren’t going to ride off into the sunset just yet.
On December 18, 2015, Congress extended the Investment Tax Credit (ITC) and Production Tax Credit (PTC) for five years.
The Section 48 ITC for commercial installations had been set to decrease from 30% to 10% at the end of 2016 and the Section 25D individual tax credit would have disappeared altogether.… More
In a memorandum released on June 12th, the IRS confirms that the safe harbor for Section 45 wind energy production tax credit (PTC) transactions set forth in Revenue Procedure 2007-65 does not apply to partners or partnerships with Section 48 energy credits, such as partnership flip transactions involving the solar investment tax credit (ITC).
This IRS memorandum, Chief Counsel Advice (CCA) 201524024, has generated a flurry of interest in the solar community. … More