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Project Finance -
Tax Incentives & Appropriations -
Press Releases
Treasury Department, IRS Release Final Rules on Direct Pay Provisions
WASHINGTON, D.C. – The U.S. Department of the Treasury and the Internal Revenue Service (IRS) released final rules today on the direct pay provisions included in the Inflation Reduction Act (IRA). Following is a statement from Ray Long, President and CEO of the American Council on Renewable Energy (ACORE) on the guidance:
“We commend Treasury and the IRS for swiftly promulgating final rules on this vital tool to expand the market for clean energy. Today’s announcement helps provide the certainty needed to unleash new opportunities for state, local, and tribal governments, nonprofits, public power entities, and other tax-exempt parties that have been historically unable to access key federal incentives for clean energy. Put simply, these rules will enable these groups to build clean energy projects, lowering the cost of energy for working families and advancing environmental justice.
“Treasury has effectively created another tool to help build affordable, reliable, and clean energy that is made in the USA. Tax-exempt and government entities can now apply the full value of tax credits for building qualifying clean energy projects. There is already significant interest in this as over 1,000 projects have already been submitted through the pre-filing registration process.
“We look forward to the deals, jobs, and reliable energy that the final rule will help to enable.”
Background:
In August, ACORE submitted comments on the proposed regulations for direct pay issued by Treasury and the IRS in furtherance of prior individual and joint comments addressing a range of pertinent issues. ACORE staff has also participated in multiple conversations and roundtables with the Biden administration on the implementation of the IRA.
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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 Final Rules on Direct Pay Provisions appeared first on ACORE.
https://acore.org/news/treasury-department-irs-release-final-rules-on-direct-pay-provisions/
It’s hard to think of a bad trait that Trump doesn’t manifest.
He certainly has pettiness and vindictiveness nailed.
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Finance -
Policy -
Technology -
Press Releases
ACORE Celebrates its 25th Anniversary by Ringing The Opening Bell at the NYSE
New York, NY – Today, ACORE celebrated 25 years by ringing The Opening Bell at the New York Stock Exchange (NYSE), marking an important milestone and sending a clear message that clean energy is a foundational economic engine of the 21st century.
“When ACORE was founded 25 years ago, our goal was to prove the economic case for clean power. Today, as we ring the bell at the New York Stock Exchange, we are celebrating the reality that clean energy is now the cheapest, most reliable, and most scalable source of power available,” said ACORE President and CEO Ray Long. “Our focus remains on the future. We are facing unprecedented electricity demand growth, and we need to deploy capital faster than ever before to build the grid of tomorrow. The financial momentum is here, and the clean energy economy is ready to deliver the abundant, low-cost power our nation demands.”
Founded in 2001, ACORE was the first organization dedicated to expanding the pan-renewable economy in the United States. For 25 years, ACORE has worked toward its vision of an electrified economy powered by clean energy that supports an improved quality of life for all. Today, ACORE members are the investment engine behind the massive clean energy deployment that is helping ensure that Americans’ energy needs are met.
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About ACORE:
ACORE is a nonpartisan nonprofit organization that operates at the intersection of affordability, reliability, and clean energy deployment. Our work is focused on stabilizing energy prices, strengthening the electric grid, and driving investment in cost-effective technologies to ensure that clean energy delivers for people, businesses, and the U.S. economy.
ACORE’s membership includes clean energy investors, developers, energy buyers, power generators, manufacturers, and energy providers. In 2024, nearly 80% of the booming utility-scale domestic clean energy growth was financed, developed, owned, equipped, or contracted by ACORE members. For more information, visit www.acore.org.
Media Contacts:
Chris Higginbotham
higginbotham@acore.org
The post ACORE Celebrates its 25th Anniversary by Ringing The Opening Bell at the NYSE appeared first on ACORE.
https://acore.org/news/acore-celebrates-its-25th-anniversary-by-ringing-the-opening-bell-at-the-nyse/
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