Clean Electricity Production Tax Credit – 26 U.S. Code § 45Y provides a technology-neutral tax credit for production of clean electricity.
Eligible Applicant
Government Tribal Government Organization Nonprofit/NGO/CBO Business Other
Description
Provides a technology-neutral tax credit for production of clean electricity. Replaces the production tax credit for electricity generated from renewable sources (extended in Section 13101 through 2024).
Direct Pay Eligibility:
Yes, for tax-exempt organizations; states; political subdivisions; the Tennessee Valley Authority; Indian Tribal governments; Alaska Native Corporations; and rural electricity co-ops.
Transferability:
Yes
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.
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