The U.S. Department of the Treasury and the Internal Revenue Service have issued proposed regulations to provide guidance for the advanced manufacturing production credit established by the Inflation Reduction Act (IRA).
The new Section 45X provides a credit for the production (within the United States) and sale of certain eligible components, including solar and wind energy components, inverters, qualifying battery components and applicable critical minerals.
The proposed regulations affect taxpayers who produce and sell eligible components and intend to claim the credit.
The guidance provides rules for the production of eligible components and sale to unrelated persons, as well as special rules that apply to sales between related persons. The proposed regulations also include rules for a taxpayer to make an election to treat sales to related persons as made to unrelated persons, known as the “related person election.”
Finally, the proposed regulations provide definitions of eligible components, rules related to calculating the credit, as well as specific recordkeeping and reporting requirements.
“Today’s guidance is a critical next step for U.S. manufacturers as they work to make announced facilities a reality,” says American Clean Power Association Chief Advocacy Officer JC Sandberg. “By creating and expanding supply chains to make clean energy technologies here at home, we will strengthen America’s energy security, create good-paying American jobs, and boost the nation’s economy.”
More information about IRA guidance can be found on the Inflation Reduction Act of 2022 page on IRS.gov.
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IRS Proposes Guidance for Solar Manufacturing Production Credit
I saw an interview earlier today, in which a TV news journalist (I forget which one) predicted that the threat of communism is going to be the central theme of the Republican leading up to the midterm elections.
This makes sense, given that the target audience is largely unaware that:
In the 1950s, Senator Joseph McCarthy led this nation through a nightmarish effort to imprison anyone with any ties to communism. This is now regarded as one of the greatest miscarriages of justice in U.S. history.
and
There are dozens of social democracies around the globe that offer the citizens extremely high qualities of life. The countries at the top of the World Happiness Rankings are, in order,
- Finland (Score: 7.764)
- Iceland (Score: 7.540)
- Denmark (Score: 7.539)
- Costa Rica (Score: 7.439)
- Sweden (Score: 7.255)
- Norway (Score: 7.242)
- The Netherlands (Score: 7.223)
Now, many MAGA folks can’t find Finland on a map of the world, but it’s that very level of ignorance that makes all this horsecrap work.
Trump is working hard to dismantling NOAA, the National Oceanic and Atmospheric Administration, the largest collection of American scientists focusing on climate change. He proposed a budget cut of $1.7 billion, or about 27% for 2026. More to the point, he shut down NOAA’s website, that, formerly, gave everyone on Earth the ability to look at key climate-related data.
In response, those scientists, knowing that we can no longer trust the U.S. government for real climate science, have set up Climate.us.
More here, from NPR.
Looks great to me!
Here’s a short video that explains why we write.
Like the farmer planting to the seed, we do not know if it will grow into a life-giving plant, but we believe that it’s possible.
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