BusinessPostCorner.com
No Result
View All Result
Monday, June 2, 2025
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources
BusinessPostCorner.com
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources
No Result
View All Result
BusinessPostCorner.com
No Result
View All Result

IRS, Treasury finalize rules for clean electricity tax credits

January 7, 2025
in Accounting
Reading Time: 2 mins read
A A
0
IRS, Treasury finalize rules for clean electricity tax credits
ShareShareShareShareShare

The Treasury Department and the Internal Revenue Service released final rules Tuesday for the Clean Electricity Investment and Production Tax Credits in Sections 45Y and 48E of the Tax Code.

The tax credits, also known as the “technology-neutral credits,” aim to reduce energy costs and meet growing demand created by major investments in the U.S. economy. 

To receive the full value of the credits, taxpayers need to meet standards for paying prevailing wages and employing registered apprentices, helping ensure more clean energy jobs are good-paying jobs, and growing career opportunities for workers in the clean energy sector. The technology-neutral Clean Electricity Production and Investment Tax Credits are also eligible for bonus credits related to siting projects in energy communities and meeting certain standards for using domestic content.

According to an analysis from the Department of Energy, the tech-neutral credits, along with other Inflation Reduction Act and Bipartisan Infrastructure Law provisions, are expected to save American families up to $38 billion on electricity bills through 2030.

The final rules issued Tuesday provide more clarity and certainty about which clean electricity zero-emissions technologies qualify for the credits, including wind, solar, hydropower, marine and hydrokinetic, geothermal, nuclear, and certain waste energy recovery property. The Treasury and the IRS expect to soon release the first Annual Table confirming this list of qualifying technologies. The final rules also include guidance to clarify how combustion and gasification technologies can qualify in the future, including on how lifecycle analysis assessments compliant with the statute will be conducted.

“The final rules issued today will help ensure America’s clean energy investment boom continues – driving down utility costs for American families and small businesses, creating good-paying construction jobs, and strengthening energy security by making the U.S. more resistant to price shocks,” said Treasury Secretary Janet L. Yellen in a statement.

However, the new rules face pushback from the incoming Trump administration, with President-elect Trump saying Tuesday, “We’re going to try and have a policy where no windmills are being built.”

Credit: Source link

ShareTweetSendPinShare
Previous Post

Vaccine makers’ shares jump after bird flu death in US

Next Post

Crypto markets are jolted by $205 million liquidation as Bitcoin tumbles to $97,000

Next Post
Crypto markets are jolted by 5 million liquidation as Bitcoin tumbles to ,000

Crypto markets are jolted by $205 million liquidation as Bitcoin tumbles to $97,000

Glastonbury farmer ‘makes more money from weddings than farming’

Glastonbury farmer ‘makes more money from weddings than farming’

May 27, 2025
Opec+ to boost oil output for third consecutive month

Opec+ to boost oil output for third consecutive month

May 31, 2025
Why Is Crypto Down Today? – May 29, 2025

Why Is Crypto Down Today? – May 29, 2025

May 29, 2025
Heathrow Airport chief asleep as airport closed over outage

Heathrow Airport chief asleep as airport closed over outage

May 28, 2025
Spike in steel tariffs could imperil Trump promise of lower grocery prices

Spike in steel tariffs could imperil Trump promise of lower grocery prices

June 1, 2025
To succeed at succession, ask yourself these hard questions

To succeed at succession, ask yourself these hard questions

May 29, 2025
BusinessPostCorner.com

BusinessPostCorner.com is an online news portal that aims to share the latest news about following topics: Accounting, Tax, Business, Finance, Crypto, Management, Human resources and Marketing. Feel free to get in touch with us!

Recent News

Dow futures dip as Wall Street weighs likelihood of Trump’s latest tariff threat, while U.S. eyes call to resolve China trade snag

Dow futures dip as Wall Street weighs likelihood of Trump’s latest tariff threat, while U.S. eyes call to resolve China trade snag

June 2, 2025
UK industrial strategy must deal with high energy costs, business warns

UK industrial strategy must deal with high energy costs, business warns

June 1, 2025

Our Newsletter!

Loading
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2023 businesspostcorner.com - All Rights Reserved!

No Result
View All Result
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources

© 2023 businesspostcorner.com - All Rights Reserved!