Newly announced rules for tax breaks for clean energy equipment manufacturing should kickstart a surge of projects in America’s green energy industry, McGuireWoods associate Marc Nickel told Greenwire in a Dec. 14, 2023, story.
The U.S. Treasury Department rolled out long-awaited rules to qualify for hundreds of billions of dollars in tax incentives to manufacture equipment vital for the green energy transition, Greenwire reported.
Nickel said that the Treasury’s “specificity in defining eligible components and what it means to
be a producer” has “answered a lot of the questions companies had about the credit.”
“This is a very generous unlimited credit that gives a big incentive to on-shore manufacturing for the renewable energy industry,” Nickel said. “I think these proposed regulations are going to get that process started in a much bigger way than we’ve seen to date.”