The IRS just published its annual notice that provides the inflation adjustment factors and reference prices used in determining the amount of the section 45 production tax credit (PTC) for the production of renewable energy and refined coal.
The credit for the production of renewable energy from wind, closed-loop biomass and geothermal facilities remains at 2.4 cents per kilowatt hour for 2018. The credit for the production of renewable energy from open-loop biomass, small irrigation power, landfill gas, trash, qualified hydropower, and marine and hydrokinetic facilities remains at 1.2 cents per kilowatt hour. The credit for the production of refined coal is $7.03 per ton for 2018 (up from $6.909 in 2017). No phase-outs apply to the credits for these energy resources in 2018.
A copy of the notice is available here.
Disclaimer
This blog is made available by Foley & Lardner LLP (“Foley” or “the Firm”) for informational purposes only. It is not meant to convey the Firm’s legal position on behalf of any client, nor is it intended to convey specific legal advice. Any opinions expressed in this article do not necessarily reflect the views of Foley & Lardner LLP, its partners, or its clients. Accordingly, do not act upon this information without seeking counsel from a licensed attorney. This blog is not intended to create, and receipt of it does not constitute, an attorney-client relationship. Communicating with Foley through this website by email, blog post, or otherwise, does not create an attorney-client relationship for any legal matter. Therefore, any communication or material you transmit to Foley through this blog, whether by email, blog post or any other manner, will not be treated as confidential or proprietary. The information on this blog is published “AS IS” and is not guaranteed to be complete, accurate, and or up-to-date. Foley makes no representations or warranties of any kind, express or implied, as to the operation or content of the site. Foley expressly disclaims all other guarantees, warranties, conditions and representations of any kind, either express or implied, whether arising under any statute, law, commercial use or otherwise, including implied warranties of merchantability, fitness for a particular purpose, title and non-infringement. In no event shall Foley or any of its partners, officers, employees, agents or affiliates be liable, directly or indirectly, under any theory of law (contract, tort, negligence or otherwise), to you or anyone else, for any claims, losses or damages, direct, indirect special, incidental, punitive or consequential, resulting from or occasioned by the creation, use of or reliance on this site (including information and other content) or any third party websites or the information, resources or material accessed through any such websites. In some jurisdictions, the contents of this blog may be considered Attorney Advertising. If applicable, please note that prior results do not guarantee a similar outcome. Photographs are for dramatization purposes only and may include models. Likenesses do not necessarily imply current client, partnership or employee status.
Author(s)
Related Insights
23 December 2024
Labor & Employment Law Perspectives
Regulating Artificial Intelligence in Employment Decision-Making: What’s on the Horizon for 2025
Share on TwitterShare by EmailShareBack to topEmployment law in 2024 could aptly be summarized as the “Year of Artificial Intelligence Legislation.
23 December 2024
Health Care Law Today
Medicare Telehealth Flexibilities Get a Three-Month Lifeline
Share on TwitterShare by EmailShareBack to topAfter much uncertainty, Congress has extended many Medicare telehealth flexibilities through March 31, 2025, in its end-of-year appropriations bill.
20 December 2024
Health Care Law Today
GLP-1 Drugs: FDA “Re-Confirms” Decision Removing Tirzepatide from the Drug Shortage List
On December 19, 2024, the U.S. Food and Drug Administration (FDA) issued a Declaratory Order reevaluating and re-confirming that the tirzepatide drug shortage has been resolved. This order revoked and replaced FDA’s October 2, 2024, decision on tirzepatide.