Tag Archives: Tax Credit

Massachusetts Clean Energy Bill Turbocharges the Adoption of Zero Emission Vehicles and Clean Transportation

Based on numerous sources, Governor Baker has now signed an Act Driving Clean Energy and Offshore Wind.  This bill includes a number of key advancements for increased adoption of zero emission vehicles and clean transportation throughout the Commonwealth.  The law:

  1. Outlaws the sale of internal combustion vehicles by any dealership after January 1, 2035 by making it an unfair or deceptive act or practice under Chapter 93A;…
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Inflation Reduction Act Aims to Propel EV and Clean Fuel Vehicle Adoption

The Inflation Reduction Act looks to accelerate the adoption of clean vehicles by reforming the related tax credits in a number of key ways.  Specifically, the bill does the following.

  1. Eliminates the 200,000 clean vehicles sold quota per manufacturer.
    • Previously, Tesla, GM, and Toyota were all over the 200,000 vehicle threshold and thus ineligible for the tax credit.
  2. Preserves the existing up to $7,500 tax credit for new qualified vehicles including electric,…
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IRS Issues PLR Approving Battery Storage for 25D Tax Credit When Integrated with Solar

The Internal Revenue Service has released a redacted copy of its private letter ruling 201809003 in which it concluded that a battery energy storage system charged 100% from an onsite solar system is eligible for the individual tax credit under Section 25D.

In the Letter Ruling, the Service reasoned that the “Battery meets the definition of a “qualified solar electric property expenditure” under § 25D(d)(2) of the Code” based on the taxpayer’s representation that “all energy that is used to charge the Battery can be effectively assured to come from the Solar Energy System” to which it would be interconnected.… More