small-logo
ProfessionalsCapabilitiesInsights & NewsCareersLocations
About UsAlumniOpportunity & InclusionPro BonoCorporate Social Responsibility
Stay Connected:
facebookinstagramlinkedintwitteryoutube

Tax Impacts

    • Email
    • LinkedIn
    • Facebook
    • Twitter
    Share this page
  • RSSRSS
Topics
Contributors
Start Date
End Date

Sort by:

1 result

July 21, 2025

|

8 min read

One Big Beautiful Bill – Solar and Wind PTCs and ITCs

On Friday, July 4, 2025, President Trump signed into law the One Big Beautiful Bill Act (the OBBB), making permanent many of the tax provisions enacted under the 2017 Tax Cuts and Jobs Act and enacting many of the policy objectives of the Trump administration.  The following discussion summarizes at a high level some of the more significant consequences of the OBBB to the wind and solar industry—specifically, to the tech-neutral investment and production tax credits for solar and wind projects under Sections 45Y and 48E (the PTC and ITC, respectively) of the Internal Revenue Code (the Code).  The IRS and Department of the Treasury are also expected to issue additional guidance and regulations to interpret the OBBB.  Among other expected areas of additional guidance, on July 7, 2025, the Trump White House released Executive Order “Ending Market Distorting Subsidies for Unreliable, Foreign Controlled Energy Sources” (the BOC EO), announcing its specific intention to cause Treasury to issue new guidance relating to the Beginning of Construction rules applicable under the ITC and PTC.On Friday, July 4, 2025, President Trump signed into law the One Big Beautiful Bill Act (the OBBB), making permanent many of the tax provisions enacted under the 2017 Tax Cuts and Jobs Act and enacting many of the policy objectives of the Trump administration.  The following discussion summarizes at a high level some of the more significant consequences of the OBBB to the wind and solar industry—specifically, to the tech-neutral investment and production tax credits for solar and wind projects under Sections 45Y and 48E (the PTC and ITC, respectively) of the Internal Revenue Code (the Code).  The IRS and Department of the Treasury are also expected to issue additional guidance and regulations to interpret the OBBB.  Among other expected areas of additional guidance, on July 7, 2025, the Trump White House released Executive Order “Ending Market Distorting Subsidies for Unreliable, Foreign Controlled Energy Sources” (the BOC EO), announcing its specific intention to cause Treasury to issue new guidance relating to the Beginning of Construction rules applicable under the ITC and PTC.

...Read more

About This Blog

Winston & Strawn’s Tax Impacts series features timely updates and insights impacting taxpayers, spanning from federal, international, and state and local tax planning to controversy.

Contributors

James N. Mastracchio

Partner

Susan Elizabeth Seabrook

Partner

Related Capabilities

  • Crisis Management
  • Tax
  • Tax Controversy & Criminal Tax

Get Our Updates

Subscribe
Logo
facebookinstagramlinkedintwitteryoutube

Copyright © 2025. Winston & Strawn LLP

AlumniCorporate Transparency Act Task ForceDEI Compliance Task ForceEqual Rights AmendmentLaw GlossaryThe Oval UpdateWinston MinutePrivacy PolicyCookie PolicyFraud & Scam AlertsNoticesSubscribeAttorney Advertising