On May 12, 2023, the U.S. Treasury Department and Internal Revenue Service (IRS) released guidance on the domestic content bonus credit under the Inflation Reduction Act for owners of green energy projects, such as wind, solar and energy storage technologies. This notice describes certain rules that the Treasury Department and the IRS intend to include in the forthcoming proposed regulations regarding the domestic content bonus credit requirements and related recordkeeping and certification requirements. The guidance also describes a safe harbor regarding the classification of certain components in representative types of qualified facilities, energy projects or energy storage technologies.