The Treasury Department published final rules for the Clean Electricity Investment (Section 48E) and Clean Electricity Production (Section 45Y) Credits. Together, these Clean Electricity Credits provide clarity and certainty around what clean electricity zero-emissions technologies qualify for the credits—including solar, wind, hydropower, marine, and hydrokinetic, geothermal, nuclear, and certain waste energy recovery property. The final rules also provide guidance to clarify how combustion and gasification technologies can qualify in the future—including on how lifecycle analysis assessments will be conducted. The existing Production Tax Credit and Investment Tax Credit will be available to projects that began construction before 2025. Qualifying projects placed in service after December 31, 2024 will be eligible for the new Clean Electricity Credits. To receive the full value of the credits, taxpayers must meet SWACCA-advocated standards for paying prevailing wages and employing registered apprentices. The final rules are scheduled for publication in the Federal Register on January 15, 2025 and will take effect upon publication.
