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The Internal Revenue Code § 45L Tax Credit for Energy Efficient Home Builders, part of the Inflation Reduction Act of 2022 (IRA), provides federal tax credits to builders of energy-efficient homes and apartments. The credit, extended through 2032, is tied to certification under eligible versions of the ENERGY STAR program requirements.
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The federal government offers tax programs and resources for cost recovery through depreciation for qualified clean energy facilities, property, and technology. Depreciation is an annual income tax deduction allowing recovery of property costs over its useful life. A key provision related to depreciation of qualified clean energy property is the modified accelerated cost recovery system (MACRS) governed by Provision 13703 of the Inflation Reduction Act of 2022 (IRA).
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Businesses and tax-exempt organizations purchasing qualified commercial clean vehicles may be eligible for a federal tax credit under Internal Revenue Code (IRC) 45W. The Commercial Clean Vehicle Tax Credit can be up to $40,000 and is based on either 15% of the vehicle's basis (or 30% for non-gas/diesel vehicles) or the incremental cost of the vehicle, with a maximum credit of $7,500 for vehicles with GVWR under 14,000 pounds and $40,000 for larger vehicles.
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The Production Tax Credit (PTC) is an inflation adjusted per-kilowatt-hour (kWh) tax credit for electricity generated by qualified energy resources and sold by the tax payer to an unrelated person during the taxable year. The duration of the credit is 10 years after the date the facility is placed in service. The Internal Revenue Code (IRC) § 45 PTC is an alternative to the IRC § 48 Investment Tax Credit. 
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The 179D Commercial Buildings Energy Efficiency tax deduction enables building owners to claim a tax deduction of up to $1.80 per square foot for installing qualifying systems. Tenants may also be eligible if they make construction expenditures.
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Internal Revenue Code Section 30D provides a credit for Qualified Plug-In Electric Drive Motor Vehicles including passenger vehicles and light trucks. The credit encourages the adoption of environmentally friendly vehicles.
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Program Name: Investment Tax Credit (ITC) (IRC § 48) Program Sponsor: U.S. Internal Revenue Service Program Type:          Tax Incentive Technology:               Alternative Energy Generation/ Renewables; Energy Storage; Waste Management Fuel:                        Solar; Wind; Geothermal; Other Renewable Energy Resources Eligibility:  Businesses Cost: N/a Description The Renewable Energy […]
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