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IRS issues favorable guidance on tax credits for wind and other renewable electric generation developers

19 April 2013

Hogan Lovells Alert

The Internal Revenue Service has issued highly anticipated guidance in the form of Notice 2013-29, providing guidelines and a safe harbor to determine when the owner of a renewable electricity generation facility (wind, biomass, or other renewable generation sources) is considered to have “begun construction” on any such facility by the end of 2013, making such taxpayer eligible for the production tax credit under section 45 (PTC), or the investment tax credit under section 48 (ITC), for such facility once it is placed in service.

Read more: IRS issues favorable guidance on tax credits for wind and other renewable electric generation developers

The team

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