Recent IRS Notices Blow Favorable For Wind Projects

Law360 (July 19, 2019, 3:00 PM EDT) -- This summer, the Internal Revenue Service has issued two notices that are beneficial to the wind industry. One increases the value of production tax credits, or PTCs, and the other provides additional guidance about the rules for qualifying projects for the maximum level of PTCs.

The first IRS notice, which applies to all wind projects — including those in their first 10 years of operations — increases the production tax credit for inflation from $24 per megawatt hour, or MWh, to $25 per MWh. The second IRS notice provides projects that have been delayed by certain U.S. Department of Defense national...

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