Treasury and IRS Issued Final Rule and Guidance on Low-Income Solar and Wind Energy Credits

The Treasury and IRS released a final rule and procedural guidance for a program designed to increase investment in solar or wind facilities in low-income communities. The rule and guidance were issued under the Low-Income Communities Bonus Credit program under Section 48(e) of the Internal Revenue Code. The incentive was created under the Inflation Reduction Act and provides up to an additional 20-percentage-point increase for solar and wind facilities in low-income and Tribal communities, or that serve federally-subsidized housing or provide economic benefits to low-income households. Read more about the Low-Income Communities Bonus Credit program.