Latest news on energy storage projects, BESS, capacity expansion, and regulatory updates across Europe, US & Canada, Latin America, and Asia Pacific. Discover how energy storage
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If an asset''s ownership or use changes, tax-credit recapture can occur, whereby credits previously claimed must be repaid to the IRS. Recapture is meant to ensure the tax credit actually
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The IRA added standalone energy storage technology, which includes electrical energy storage property, thermal energy storage property and
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Four utility-scale BESS projects in Massachusetts, with capacities ranging from 9,000 to 22,000 kilowatt-hours (kWh), are strengthening grid
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Taxpayers that claim ITCs may be required to recapture a portion of the credit if the ITC-eligible property is disposed of or otherwise ceases to be
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The final regulations define what it means for energy storage technology to be installed in connection with the qualified solar or wind facility. Finally, the increase to the energy investment credit under
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ITC Recapture for failure to satisfy the prevailing wage requirements – The Proposed Regulations appeared to put all liability for failure to satisfy the
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The Final Regulations provide updates to proposed regulations published on November 17, 2023, which we previously discussed here,
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Taxpayers should carefully evaluate the application of these changes to their thermal energy storage system projects. The rules outlined in this section apply to property placed in service in tax years
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New “beginning of construction” guidance is expected to be issued pursuant to a recent executive order (discussed below). The phase-out of the
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