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Investment tax credit regulations the Internal Revenue Service and the U.S. Department of the Treasury proposed Nov. 17 seek to give private businesses clarity in their efforts to invest in clean energy projects.
The proposed rules would be the first update to these regulations since 1987, providing further guidance and definitions of what qualifies as energy property eligible for the ITC and administrative rules related to credit amounts.
These updates also address prevailing wage and apprenticeship requirements enacted by the Inflation Reduction Act in relation to specific ITC scenarios of repair projects and the five-year recapture period, when owners are restricted from selling an energy property or taking it offline.
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