July 16, 2024

Internal Revenue Service (IRS)

Will Final Rules on EV Tax Credits Help or Hurt US Market Growth?
According to Kelley Blue Book, the slow-down in EV sales could be a sign that "EVs are almost mainstream cars in parts of the country. Segment growth typically slows as volume increases."
Biden Administration Releases Tax Credit Guidance and Funding for EVs
The Treasury Department and the IRS released guidance on tax incentives from the Inflation Reduction Act to offset the cost of installing electric vehicle charging stations and other alternative refueling stations.
Biden Admin. Releases Proposed Rules for Hydrogen Tax Credits
Hydrogen producers seeking tax credits will need to use new clean energy time-matched to demand, the Biden administration proposed.
Treasury, DOE Issue Proposed ‘FEOC’ Rules for EV Tax Credits

As U.S. automakers pull back on plans to invest heavily in electric vehicles, claiming sales are not growing as fast as expected, the Treasury Department and Internal Revenue Service issued new guidelines on the federal tax credits for EVs that could further slow sales.

South Fork Wind
Northeast Governors Ask Feds to Assist OSW Industry
Governors of states that have procured all the offshore wind power contracted to date in U.S. waters are asking the federal government to help the struggling industry regain its momentum. 
Treasury Previews ‘Phase 2’ of IRA Tax Credit Rollout

Starting in 2024, consumers buying an electric vehicle that qualifies for a $7,500 tax credit under the Inflation Reduction Act.

Treasury Dept. Finalizes IRA Low-income Tax Credit Adder
Treasury Department issues final guidance for lower-income community bonus on IRA tax credits for clean energy projects.
Wood Mackenzie/EIA
WoodMac: New Solar Hits 54% of New Generation in US in Q1
Recent reports from industry analyst Wood Mackenzie show new solar soaring but energy storage slumping.
Clean Hydrogen and Renewable Energy Feud over Tax Credit Rules
Power demands from the upstart clean hydrogen industry could lead to a dirtier electric grid.
Treasury Delays Key Rules for IRA’s EV Tax Credits
Consumers looking to cash in on the Inflation Reduction Act’s tax credits for electric vehicles may have to wait on the Treasury Department.

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