Clean Electricity Investment Tax Credit – 26 U.S. Code § 48E provides a technology-neutral tax credit for investment in facilities that generate clean electricity. Replaces the investment tax credit for facilities generating electricity from renewable sources (extended in Section 13102 through 2024).
Stackability
Credit reduced for tax-exempt bonds with similar rules as section 45(b)(3). Cannot claim both the §48E ITC and the § 45Y PTC for the same facility.
Clean Electricity Investment Credit (§ 48E)
Section 13702 of the IRA added § 48E, the clean electricity investment credit, to provide an investment tax credit for qualified property. The credit amount for any taxable year is equal to the applicable percentage of the qualified investment for such taxable year with respect to any qualified facility and any energy storage technology. The applicable percentage for both qualified facilities and energy storage technology is generally 6 percent. The applicable percentage can be increased to 30 percent if prevailing wage and apprenticeship requirements are met.
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