ACORE Commends Treasury’s Update of its Safe Harbor Guidance for Renewable Projects
Following is a statement from Gregory Wetstone, President and CEO of the American Council on Renewable Energy (ACORE), on the release of IRS Notice 2020-41, which will provide an additional year for renewable energy projects that started construction in 2016 and 2017 to be placed-in-service under the Treasury Department’s safe harbor guidance:
WASHINGTON, D.C. — Following is a statement from Gregory Wetstone, President and CEO of the American Council on Renewable Energy (ACORE), on the release of IRS Notice 2020-41, which will provide an additional year for renewable energy projects that started construction in 2016 and 2017 to be placed-in-service under the Treasury Department's safe harbor guidance:
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"Treasury's recently released guidance granting an additional year to meet safe harbor qualifications for renewable tax credits is a welcome and important step to help the renewable sector and its workers in the face of the delays, disruptions and other challenges associated with COVID-19. We commend Secretary Mnuchin for his leadership on this initiative, and call on Congress to swiftly enact temporary refundability for renewable energy credits and take other commonsense measures so the renewable sector can be an economic driver for the nation through this downturn, and an effective climate solution over the long haul."
About ACORE:
Founded in 2001, the American Council on Renewable Energy (ACORE) is the nation's premier pan-renewable organization uniting finance, policy and technology to accelerate the transition to a renewable energy economy. For more information, please visit www.acore.org.
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