Treasury Floats Proposed Updates To Clean Energy Credit Due To IRA

The Treasury Department is proposing updates to “section 48” clean energy tax credit rules, implementing the Inflation Reduction Act’s (IRA) expansion of the credit to newer technologies such as energy storage, offshore wind and “microgrid controllers,” as well as the law’s provisions allowing smaller projects to offset certain grid costs. The proposed update , scheduled to be published Nov. 22 in the Federal Register , also withdraws certain portions of regulations floated in August and reproposes rules related to certain...