KPMG report: Investment tax credit for energy property under section 48

Analysis and observations on the final regulations

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January 9, 2025

The U.S. Treasury Department and IRS in December 2024 released final regulations (T.D. 10015) relating to the investment tax credit (ITC) for energy property under section 48, including rules for determining whether investments in energy property are eligible for the energy credit and for defining an energy project, reflecting certain amendments under H.R. 5376 (commonly called the “Inflation Reduction Act of 2022” (IRA)).

The final regulations adopt proposed regulations issued in November 2023, with modifications in response to the 350 written comments received on the proposed regulations, as described in the preamble to the final regulations.

Read a January 2025 report prepared by KPMG LLP that provides analysis and observations on the final regulations. 

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