The ITC for standalone energy storage is a refundable credit for tax-exempt entities, state and local governments, Indian tribal governments, Alaska Native Corporations, the Tennessee
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New guidance from the Treasury Department and IRS was recently released for tax-exempt businesses to implement solar and storage projects, reinforcing the expanded opportunities
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These facilities or property will be treated as a 5-year property for purposes of cost recovery, leaving them with lower taxable income in the earlier years of a clean energy investment.
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Investments in energy projects offer two primary tax benefits: the ITC and accelerated depreciation. Some developers cannot use these tax benefits themselves but can use them to
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Typical exemptions or exclusions available for BESS vary by state and may be based on: if BESS co-locates with a solar or wind facility in a state that provides an exclusion or exemption for a
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The act allows tax-exempt organizations and certain government entities to benefit from these incentives. It also introduced a direct pay option, enabling these organizations to receive direct
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The Final Regulations answered taxpayer questions on the eligibility requirements for biogas and standalone energy storage. The Final Regulations also modify the prevailing wage and
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Tax-exempt and governmental entities, such as state and local governments, Tribes, religious organizations, and non-profits may install energy-generation and storage property to meet energy
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The energy storage industry has continued to progress over the course of 2024 and into 2025, buoyed in significant part by the federal income tax benefits in the form of tax credits enacted
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Cities, school districts, ports, transit agencies, and other tax-exempt entities have already claimed the elective payments for a range of qualifying projects, including solar installations, waste
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