IRS Unveils Start of Construction Rules for Solar, Other ITC-Eligible Technologies
Scott Cockerham has authored an article regarding the Internal Revenue Service's guidance for developers of solar and other projects that qualify for federal investment tax credits, and ancillary issues like project transfers and repowerings.
"The Internal Revenue Service (“IRS”) released long-awaited guidance for developers of solar and other projects that qualify for federal investment tax credits, saying that a project will be considered to have begun construction if its owner commences “physical work of a significant nature,” or pays or incurs (according to its method of accounting) at least five percent of the total cost of the project.
This article appeared in its entirety in the November-December 2018 edition of Pratt's Energy Law Report.