The IRS has issued guidance for owners of certain solar or wind facilities built in connection with low-income communities. The Inflation Reduction Act provides for an increase in the energy investment credit for solar and wind facilities that apply for, and receive, an allocation of environmental justice solar and wind “capacity limitation.” Revenue Procedure 2024-19 provides clarifying changes to the application and documentation requirements for the 2024 year. In addition, it provides how the capacity limitation for the 2024 program year will be divided across facility categories described and the additional selection criteria application options. To learn more: https://bit.ly/43DCaQb
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