A Blueprint For Production And Investment Credits

Law360, New York (December 17, 2013, 11:24 PM EST) -- The IRS recently provided additional certainty for taxpayers seeking to claim the expanded production tax credit (“PTC”) or investment tax credit (“ITC”), and we expect that investors will be more willing to finance renewable energy projects because of this greater certainty.

Background

The American Taxpayer Relief Act of 2012 (“ATRA”) extended and modified the PTC and ITC. Under prior law, renewable energy facilities must have been “placed in service” before the applicable expiration date, which effectively required these facilities to have achieved commercial operation prior to...
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