Renewables Developers See Volatile Path Forward for Industry Without Tax Credits

Tax attorney Nicole Elliott was quoted in a recent S&P Global article about the renewable energy industry's future with uncertainty surrounding U.S. tax credits. The newly-passed federal budget eliminates the Section 45Y clean electricity production credit and the Section 48E clean energy investment credit of the Inflation Reduction Act. President Donald Trump also signed an executive order directing the U.S. Department of the Treasury to consider revising rules for renewable energy projects seeking tax credits by August 18, 2025. Ms. Elliott said she believes having final regulations that have the full effect of law in that timeframe would be a "monumental exercise."

"I suspect what is being planned for the beginning of construction part of the executive order is simply an IRS notice," she said.

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