ACP Statement on Proposed Guidance from Department of Treasury and IRS on Direct Pay and Transferability for Clean Energy Tax Credits

WASHINGTON D.C., June 16, 2023 – The American Clean Power Association’s (ACP) Chief Advocacy Officer JC Sandberg released the following statement on proposed guidance from the Department of Treasury and the Internal Revenue Service (IRS) on transferability and direct pay for new federal clean energy and manufacturing tax credits:  

“The proposed guidance from Treasury and the IRS on transferability and direct pay of the clean energy and manufacturing tax credits provides valuable clarity on two new tools for financing clean energy projects and manufacturing of the clean energy supply chain. The clean power industry is poised to develop record amounts of clean energy and clear guidance in this area will help accelerate deployment for years to come. While we welcome this guidance, we look forward to working with Treasury and the IRS in the coming months to provide additional guidance on these important tools.”