In the Headlines
July 31, 2023

Phase 1 in Allocating Billions to Advanced Energy Projects

Tax Notes

Tax attorney Nicole Elliott was quoted in a Tax Notes article about the advanced energy project credit allocation under Internal Revenue Code Section 48C. This is one of the uniquely competitive programs in the code, and its administration is a collaborative effort between the IRS and the U.S. Department of Energy. The guidance and application process have been well communicated, though the five-page limit for concept papers has posed some challenges for applicants. The program prioritizes projects that will quickly fulfill the policy goals of the Inflation Reduction Act. Ms. Elliott shared her thoughts on how the government has outlined what it wants from potential applicants.

"The government has done a very good job of communicating what it's looking for in terms of the contents of the concept paper and projects it's looking to fund," she said.

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