Energy Tax Credit Guidance Comes as Transfer Market Takes Off

Tax attorney Amish Shah was quoted in a Bloomberg Law article on the rapidly developing guidance for the Inflation Reduction Act's new energy tax credits. The article highlighted the complexities facing the U.S. Department of the Treasury and Internal Revenue Service (IRS) in implementing more than 20 tax incentives created or altered by the law. Mr. Shah discussed the emerging market where investors are effectively purchasing these transferable credits through deals worth hundreds of millions. He also noted that the new credits are enabling creative combinations of renewable technologies by developers.

"Now it's 'I've got a solar project and a wind project, and I've got a feed into a hydrogen project, and the hydrogen's going to produce clean fuel, and we're going to have some carbon capture sequestration. Tell me about the tax rules,'" he said.

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