U.S. Department of the Treasury Issues Proposed Rules to Expand Clean Energy Investments in Underserved Communities

*Proposed regulations would apply bonus credit to additional clean energy technologies for projects in low-income communities. *WASHINGTON – Today, the U.S. Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) issued a Notice of Proposed Rulemaking(NPRM) for 48E(h), the Clean Electricity Low-Income Communities Bonus Credit Program, created by the Inflation Reduction Act. The program promotes cost-saving clean energy investments located in low-income communities, on Indian lands, within affordable housing, or directly benefitting low-income households.The proposed rules announced today mark a major step forward for the implementation of the Biden-Harris Administration’s Investing in America agenda, lowering costs for underserved communities and households and helping ensure that they share in the benefits of the growth of the clean energy economy.The 48E(h) Clean Electricity Low-Income Communities Bonus Credit Program builds on the first-of-its-kind Low-Income Communities Bonus Credit Program, also known as 48(e).