The Internal Revenue Services has issued a final rule that sets forth final regulations regarding the clean electricity production credit and the clean electricity investment credit established by the Inflation Reduction Act of 2022. These final regulations provide rules for determining greenhouse gas emissions rates resulting from the production of electricity; petitioning for provisional emissions rates; and determining eligibility for these credits in various circumstances. The final regulations affect all taxpayers that claim the clean electricity production credit with respect to a qualified facility or the clean electricity investment credit with respect to a qualified facility or energy storage technology, as applicable, that is placed in service after 2024. Agency contact: Maksim Berger, John M. Deininger, Martha M. Garcia, Boris Kukso, Nathaniel Kupferman, and Alexander Scott at (202) 317-6853. PUBLISHED: 1/15/25; ACTION: Final Rule; REFERENCE: 90 FR 390; REFERENCE: 26 CFR Part 1: Effective January 15, 2025. View in Federal Register: https://www.govinfo.gov/content/pkg/FR-2025-01-15/html/2025-00196.htm
