Treasury Department, IRS Release Additional Guidance on Domestic Content Bonus Credit

May 16, 2024

WASHINGTON, D.C. – The U.S. Department of the Treasury and the Internal Revenue Service (IRS) released additional guidance today on the domestic content bonus tax credit. Following is a statement from Ray Long, President and CEO of the American Council on Renewable Energy (ACORE), on the guidance:

“We commend the Department of Treasury and IRS for issuing the domestic content guidance. Having clear rules of the road is critical for companies seeking to invest in America’s clean energy future, and today’s additional guidance on domestic content provides helpful clarity. Once successfully implemented, this bonus credit will help catalyze billions in private sector investment and thousands of good-paying jobs by boosting clean energy deployment and increasing the competitiveness of American-made products.

“ACORE appreciates the improvements that were made to the initial guidance, which our analysis over the last year has shown should help facilitate a swift and sustained transition to domestic manufacturing. Of particular note is the amended safe harbor approach, which intends to remove unnecessary burdens on taxpayers by allowing them to reference default cost percentages. We also commend Treasury and the IRS for expanding the safe harbor classifications announced last year to include additional clean technologies, like hydropower, and for their plans to issue proposed guidance on projects that use elective pay. We look forward to further analyzing the impacts of the guidance on clean energy investment and deployment.”

Background:

ACORE submitted comments in response to the initial guidance concerning the domestic content bonus provision issued by Treasury and the IRS last May, which built from prior individual and joint comments on a range of pertinent issues.

About ACORE:
For over 20 years, the American Council on Renewable Energy (ACORE) has been the nation’s leading voice on the issues most essential to renewable energy expansion. ACORE unites finance, policy, and technology to accelerate the transition to a renewable energy economy. For more information, please visit www.acore.org.

Media Contacts:
Alex Hobson
Sr. Vice President, Communications
American Council on Renewable Energy
hobson@acore.org | 202.830.3592 (o) | 202.594.0706 (c)

Dylan Helms
Manager, Communications
American Council on Renewable Energy
helms@acore.org | 202.935.6491 (o) | 727.290.8804 (c)

The post Treasury Department, IRS Release Additional Guidance on Domestic Content Bonus Credit appeared first on ACORE.

https://acore.org/news/treasury-department-irs-release-additional-guidance-on-domestic-content-bonus-credit/

Renewable Energy

Remembering Buckminster Fuller, 20th Century Super-Engineer and His Beliefs about Humanity

Published

7 hours ago

October 29, 2026

Alice Rush

Fuller’s words here have been echoed through the ages, e.g., Mahatma Gandhi’s note: “The world has enough for everyone’s need, but not enough for everyone’s greed.”

The problem: Most people living in our capitalist civilization care very little about what Bucky here called “livingry.” The typical person in the developed world thinks almost nothing about starving children and even less about recasting world society into a place where we take care of the wellbeing of everyone.

He was one of the great minds that have ever graced our planet, IMO.

Remembering Buckminster Fuller, 20th Century Super-Engineer and His Beliefs about Humanity

Renewable Energy

Corporate Greed from the Consumer’s Perspective

Published

10 hours ago

October 29, 2026

Alice Rush

Six months ago, our local CVS drugstore had a manager, a handful of employees answering customers’ questions, checking them out at the cash register, stocking shelves, etc.

Last month, I noticed that most of these employees were gone, and the former manager was now stocking shelves. I also noted long lines of customers waiting for an automated checkout machine to become available.

Last week, I saw the former manager working at a nearby grocery store.

Also, the pharmacy is now closed for an hour for lunch. When I asked about this, I was asked, “Don’t you think we employees deserve to eat lunch?” I responded, “Of course I do. But can’t CVS afford to staff the pharmacy so customers are not inconvenienced?”

This is certainly not a unique–or even rare–occurrence; it seem that CVS is like most large corporations, driven by cost-cutting, while abusing their employees and their customers.

Corporate Greed from the Consumer’s Perspective

Renewable Energy

Honesty in Politics Is Rare

Published

12 hours ago

October 29, 2026

Alice Rush

Barack Obama read the actual GOP agenda to a roaring Atlanta crowd Wednesday: a $1 trillion tax cut for millionaires and billionaires, paid for with higher health care costs and Medicaid cuts. Plus a war in Iran that everyone warned would push prices up. “(Democrats will) ban hamburgers and make everybody eat tofu,” he joked.

This is certainly not the only baseless assertion one hears today. I love this one: Democrats will bring you the freedom of North Korea and the affluence of Cuba. I suppose this is what happens in political rhetoric, especially when it’s addressed to our country’s least educated people.

In actual fact, Democrats, if empowered to do so, will bring you the affluence, healthcare, and education level of Denmark, Norway, Sweden, Finland, New Zealand, Iceland, Costa Rica, and the rest of the world’s social democracies.