New emissions-based, technology-neutral clean electricity production tax credit to replace 45 PTC starting in 2025. Base credit is $0.003 per kWh and full credit is $0.015 per kWh for projects meeting prevailing wage and apprenticeship requirements, both adjusted annually for inflation. Includes direct pay and transferability. The tax credit is increased by 10% if the project meets a domestic content requirement and another 10% if the project is located in an energy community. Credits available under this program begin to phase out when annual greenhouse gas emissions from electricity production in the U.S. is <= 25% of 2022 emissions levels or in 2032, whichever comes later.

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Federal Agency: Department of the Treasury

Category: Program