U.S. Department of the Treasury, IRS Release Proposed Guidance to Continue Investment Boom in Clean Energy Production

*Proposed Rules for “Technology-Neutral” Clean Electricity Incentives in the Inflation Reduction Act *WASHINGTON – Today, the U.S. Department of the Treasury and Internal Revenue Service (IRS) released proposed guidance on the Clean Electricity Production Credit and Clean Electricity Investment Credit established by President Biden’s Inflation Reduction Act. By providing clarity to developers of clean electricity projects, today’s guidance will further President Biden’s Investing in America Agenda, support American jobs, and bolster energy production and energy security while reducing energy costs for American consumers.The Inflation Reduction Act sunsets the existing Production Tax Credit (section 45 of the tax code) and Investment Tax Credit (section 48 of the tax code) by limiting their availability to projects beginning construction before 2025 and transitioning to the Clean Electricity Production Credit (section 45Y of the tax code) and the Clean Electricity Investment Credit (section 48E of the tax code) for projects placed in service after December