Energy Generation and Carbon Capture: Green Energy: Tax Breaks for Renewables & Carbon Capture
Section §45 - Production Tax Credit for Electricity from Renewables (pre-2025)
Section §45 - Production Tax Credit for Electricity from Renewables (pre-2025)
The Renewable Electricity Production Tax Credit (PTC) offers a federal tax credit for electricity generated by qualified renewable resources, with varying rates and up to 10 years duration, enhanced by bonuses for projects meeting specific criteria.
Section §45Y - Clean Electricity Production Tax Credit (2025 onwards)
Section §45Y - Clean Electricity Production Tax Credit (2025 onwards)
The Section 45Y tax credit incentivizes clean electricity production, replacing the renewable energy credit, with bonuses for meeting wage, apprenticeship, domestic content, and energy community criteria.
Section §45Q - Credit for Carbon Oxide Sequestrations
Section §45Q - Credit for Carbon Oxide Sequestrations
Section §45U - Zero-Emission Nuclear Power Production Credit
Section §45U - Zero-Emission Nuclear Power Production Credit
Section §48 - Investment Tax Credit for Energy Property (pre-2025)
Section §48 - Investment Tax Credit for Energy Property (pre-2025)
The Section 48 tax credit incentivizes investments in a range of renewable energy projects, such as fuel cell, solar, geothermal, and more, offering a credit amount of 6% of qualified investment, which increases to 30% if prevailing wage requirements are met.
Section §48E - Clean Electricity Investment tax Credit (2025 onwards)
Section §48E - Clean Electricity Investment tax Credit (2025 onwards)
The 48E tax credit incentivizes clean electricity generation investments with a 6% base credit of qualified investment, plus bonuses for meeting labor, domestic content, and energy community criteria.