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IRS Notice: Renewable Electricity Inflation-Adjusted Credit Amounts for 2022 (IRC §45)

May 20, 2022, 5:00 AM

Formal publication of renewable electricity production credit inflation adjusted credit amounts for 2022, the IRS released May 20. The credit for renewable electricity production for calendar year 2022 is 2.6 cents per kilowatt hour on the sale of electricity produced from the qualified energy resources of wind, closed-loop biomass, and geothermal energy, and 1.3 cents per kilowatt hour on the sale of electricity produced in open-loop biomass facilities, landfill gas facilities, trash facilities, qualified hydropower facilities, and marine and hydrokinetic renewable energy facilities. Credit phase-outs do not apply for 2022, the IRS stated. The credit period for refined coal production ...