Solar & Renewable Energy Tax Credits

The IRS has announced its 2010 inflation adjustment factors for Section 45 Renewable Electricity Production credits and other energy related tax credits.

Major decisions are being made in Washington that affect the future of tax credit development. But these decisions aren’t made in a vacuum – they are made after consultation with industry experts, constituents and consumers. You should be part of the conversation! Join NH&RA in Washington, DC for its 2010 Spring Policy Forum.

California state lawmakers recently passed legislation (S.B. 401) to conform state tax law to federal changes made since 2005.

The U.S. Treasury Department recently updated its program guidance for the Section 1603 renewable energy tax credit cash grant exchange program.

Representatives of the Council for Energy Friendly Affordable Housing (CEFAH), a council within NH&RA, will be meeting with the staff of U.S. Sen. Michael Bennet (D-Colo.) to discuss the senator’s recently introduced energy efficiency legislation and to express support for it.

NH&RA’s Council for Energy Friendly Affordable Housing is pleased to report that a new Senate bill (S. 2897) has been introduced by Senator Michael Bennet (D-CO) that would create significant financial incentives for owners of federally-assisted housing projects to improve their properties’ energy efficiencies and reduce energy costs.

The U.S. Department of Energy’s Lawrence Berkeley National Laboratory recently released a new report that examines two renewable energy provisions included in the American Recovery and Reinvestment Act of 2009 that may help shovel-ready community wind projects move forward.

The Internal Revenue Service has issued a notice of changes to Revenue Procedure 2007-65, which establishes safe harbor requirements for the allocation of Section 45 wind energy production tax credits by partnerships.

NH&RA pleased to announce we will be returning to the Taj Hotel (formerly the Ritz-Carlton) for our Annual Boston Fall Developers Forum November 2-3, 2009. This is a can’t miss event for developers and affordable housing professionals looking to get the latest updates on state-of-the-art transactions and breaking news from the Congress, HUD and HFAs.
Online registration is now open and the hotel is taking reservations at our group rate. Click here to register online.

U.S. Treasury Secretary Tim Geithner and Energy Secretary Steven Chu recently announced $502 million in the first round of awards from the Section 1603 program created by the Recovery Act.

The IRS has issued a notice establishing announcing an initial allocation round of the advanced energy project credit under the program. $2.3 billion in tax credits will be available through the Advanced Energy Manufacturing Tax Credit (MTC) program created, which was created in the American Recovery & Reinvestment Act of 2009.

HUD’s Office of Affordable Housing Programs has scheduled technical assistance training addressing Energy Efficiency. The Energy Efficiency course describes how a project can incorporate energy efficiency measures into rehabilitation and new construction programs.