{"id":100139,"date":"2022-10-05T14:30:05","date_gmt":"2022-10-05T19:30:05","guid":{"rendered":"https:\/\/www.solarpowerworldonline.com\/?p=100139"},"modified":"2023-03-01T08:52:41","modified_gmt":"2023-03-01T13:52:41","slug":"treasury-seeks-public-input-on-clean-energy-provisions-inflation-reduction-act","status":"publish","type":"post","link":"https:\/\/www.solarpowerworldonline.com\/2022\/10\/treasury-seeks-public-input-on-clean-energy-provisions-inflation-reduction-act\/","title":{"rendered":"Treasury seeks public input on clean energy provisions in Inflation Reduction Act"},"content":{"rendered":"
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Photo by Shaan Hurley<\/p><\/div>\n

The U.S. Department of the Treasury and the Internal Revenue Service (IRS) today issued six Notices<\/a> requesting public input on key climate and clean energy tax incentives in the Inflation Reduction Act. The Notices mark a key first step in the formal process of implementing the landmark legislation, which puts the United States within reach of President Biden\u2019s climate goals while creating good-paying jobs, lowering costs for households and strengthening the nation\u2019s energy security. Nearly three-quarters of the Inflation Reduction Act\u2019s climate change investment \u2014 $270 billion \u2014 is delivered through tax incentives, putting Treasury at the forefront of this critical legislation.<\/p>\n

\u201cThe Inflation Reduction Act tackles the climate crisis head on and strengthens President Biden’s historic effort to incentivize the energy sector to drive investment and dynamic economic growth while lowering costs for American families,\u201d said Secretary of the Treasury Janet L. Yellen. \u201cThe Treasury Department stands ready to meet the responsibility that comes with implementing this legislation and looks forward to engaging with stakeholders and the public who will benefit from the law\u2019s provisions.\u201d<\/p>\n

The Notices seek initial input from the public on specific questions, as well as requests for general comments. While the public will have further opportunities to provide input as the implementation process unfolds, the Notices issued today provide an early way for stakeholders to submit information that can help inform Treasury and the IRS\u2019s work. Soliciting extra input at this early stage will help accelerate the process of providing clarity and certainty to taxpayers.<\/p>\n

Treasury is also releasing a fact sheet<\/a> that includes additional information about the Notices and Treasury and the IRS\u2019s implementation process.<\/p>\n

In implementing the historic climate and clean energy provisions of the Inflation Reduction Act, Treasury will be guided by three core principles:<\/p>\n