Press Releases & Statements / Infrastructure and Community Resilience
New Direct Pay Guidance from Biden Administration Will Allow Schools, Tribal Governments, and More to Get Clean Energy Projects Off the Ground
The Inflation Reduction Act extended and strengthened tax credits for investment in and production of a range of clean energy technologies. The law included a “direct pay” option for which the Internal Revenue Service (IRS) today released new guidance. The guidance will help public and tax-exempt entities—public schools, nonprofit hospitals, and tribal, local, and state governments—to recoup a significant portion of a clean energy project’s cost as a cash payment from the IRS.