The Internal Revenue Code (IRC) provides two primary tax incentives for renewable energy facilities: the production tax credit (PTC) in IRC Section 45, and the investment tax credit (ITC) in IRC Section 48.
Illinois Renewable Resources Procurement Plan aims to boost renewable energy development
On September 29, 2017, the Illinois Power Agency (IPA) released its Long-Term Renewable Resources Procurement Plan (Plan) to implement renewable energy goals set forth in Illinois’s Future Energy Jobs Act, which went into effect on June 1.
Key energy-related tax provisions in the 2017 budget proposal
Making the PTC permanent and refundable signals the administration’s continued strong support for renewable energy.