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On June 18, 2024, the Department of the Treasury (the “Treasury”) and the Internal Revenue Service (the “Service”) issued (T.D. 9998) (the “Final Regulations”) regarding compliance with the prevailing wage and apprenticeship requirements (the “PWA Requirements”) impacting many of the clean energy tax credits introduced or expanded by the Inflation Reduction Act of 2022 (the “IRA”).

In part three of a series for Mining Technology about international deep-sea mining regulation, Louise Woods and Elena Guillet explore how international investment law could be applied to dispute resolution.

On May 31, 2024, the Department of the Treasury (“Treasury”) and the Internal Revenue Service continued to churn out Inflation Reduction Act of 2022 (“IRA”)¹ guidance by releasing Notice 2024-49 (the “Notice”) regarding the clean fuel production tax credit (the “45Z Credit”)² available under new section 45Z of the Internal Revenue Code of 1986, as amended.

On May 29, 2024, the Treasury Department (the “Treasury”) and the Internal Revenue Service (the “Service”) issued proposed regulations (REG-119283-23) (the “proposed regulations”) regarding the clean electricity production tax credit and the clean electricity investment tax credit provided by the Inflation Reduction Act of 2022 (the “IRA”)¹ and available under new sections 45Y and 48E, respectively, of the Internal Revenue Code of 1986, as amended (the “Code”).

The volatility of energy prices following recent geopolitical challenges has brought a renewed focus on domestic energy security.

The story of artificial intelligence (“AI”) is one of technological promise and societal challenge, and its impact on the U.S. electric power grid is fast becoming a pivotal chapter.

The emergence of generative artificial intelligence (AI) is driving a surge in demand for power-hungry data centre capacity in Europe.

On May 16, 2024, the Department of the Treasury (the “Treasury”) and the Internal Revenue Service (the “IRS”) issued Notice 2024-41 (the “Notice”), which provides supplemental guidance on the domestic content bonus credit (the “Domestic Content Bonus”). While stakeholders may have been hoping for a more fulsome set of proposed regulations, the Notice still provides meaningful updates and clarifications to the previously issued guidance under Notice 2023-38 (the “Prior DC Notice”).¹

As the aviation market moves towards a more sustainable future and fuel source, Brazil and other Latin American countries are likely to serve as key production locations for SAF due to their unique natural endowments and existing experience with bio-fuels.

By 2050, the cost of producing low-carbon hydrogen is expected to be five times higher in the most expensive regions than the least expensive regions, according to the Hydrogen Council.

Vinson & Elkins was delighted to host its First Annual Energy Transition and Inflation Reduction Act Conference.

On April 25, 2024, the Department of the Treasury and the Internal Revenue Service issued final regulations (T.D. 9993) (the “Final Transfer Regulations”) regarding the transfer election for certain tax credits by eligible taxpayers available under section 6418 of the Internal Revenue Code of 1986, as amended (the “Code”).