New Bill Proposes Tax Credits for Renewable Energy Storage

The Storage Technology for Renewable and Green Energy Act of 2013, or STORAGE 2013 Act, seeks to make the energy grid cleaner and more efficient, and to reduce the cost of electricity to consumers. Today’s energy grid system suffers from the high demand for energy that occurs during peak times...

Further IRS Clarification on Tax Credit Prerequisites for Renewable Energy

As discussed on early blog posts ( April 15 th and April 28th ), the American Taxpayer Relief Act of 2012 modified the definition of a qualified facility under Section 45(d) of the Internal Revenue Code (IRC) [ enhanced version available to lexis.com subscribers ], for purposes of the production tax...

Clean Energy Projects to Receive $150 Million in Tax Credits

By Seth J. Schriftman , Staff Attorney, Jenner & Block On December 12, 2013, the United States Energy Department announced that clean energy tax credits of $150 million had been awarded to support domestic clean energy manufacturing. The awards were provided to 12 businesses through the Treasury...