Credit for Renewable Electricity Production and Publication of Inflation Adjustment Factor and Reference Price for Calendar Year 2025, 22438-22440 [2025-09366]
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22438
Federal Register / Vol. 90, No. 100 / Tuesday, May 27, 2025 / Notices
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airworthiness certificate to former
military aircraft to improve alignment
between certain operations of former
military aircraft and the experimental
airworthiness certificates which
authorize their operation. The rule
would also increase the duration of
certain experimental airworthiness
certificates from one to three years.
Additionally, except for non-powered
aircraft, agricultural aircraft, and firefighting aircraft, the proposed rule
would expand the applicability of noise
requirements under part 36 of title 14 of
the Code of Federal Regulations to new
light-sport aircraft and certain
alterations that increase noise in used
light-sport aircraft and certain used
experimental light-sport category
aircraft. The rule would allow options
for compliance: conventional noise
testing per part 36 or a means of
compliance specified in FAA-approved,
industry consensus standards.
The environmental impacts of
implementing these proposed MOSAIC
rule changes have been considered in a
manner consistent with the provisions
of NEPA, as amended (42 U.S.C. 4321 et
seq.) and FAA Order 1050.1F,
Environmental Impacts: Policies and
Procedures.
Based on the analysis provided in the
Draft PEA, the FAA has preliminarily
determined in a proposed finding of no
significant impact that there will not be
a significant impact to the human
environment. As a result, an
Environmental Impact Statement (EIS)
has not been initiated. 42 U.S.C.
4336e(7). The FAA intends for this PEA
to create efficiencies by establishing a
framework that can be used for
‘‘tiering,’’ where appropriate, to future
FAA actions that require additional
analysis beyond the scope of this PEA.
As decisions on future FAA actions are
made, to the extent additional NEPA
analysis is required, environmental
review will be conducted to supplement
the analysis set forth in this PEA.
The Draft PEA is available for review
online at the following link: https://
www.regulations.gov/docket/FAA-20231377/document.
Comments Invited
The FAA invites interested
stakeholders to submit comments on the
Draft PEA, as specified in the ADDRESSES
section of this Notice. Commenters
should include the subject line, ‘‘Public
Comment on Draft MOSAIC PEA’’ on all
comments submitted to the FAA. All
comments must be provided in English.
The FAA will accept comments in
Word, PDF, or email body. No business
proprietary information, copyrighted
information, or personally identifiable
VerDate Sep<11>2014
17:22 May 23, 2025
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information should be submitted in
response to this request. Please be aware
that comments submitted may be posted
on a Federal website or otherwise
released publicly.
The most helpful comments reference
a specific recommendation, explain the
reason for any recommended change,
and include supporting information.
The FAA will consider all comments
received on or before the closing date.
The FAA will also consider late filed
comments if it is possible to do so
without incurring expense or delay.
Issued in Washington, DC.
Brian Cable,
Manager, Organization and System Policy
Branch, Policy and Standards Division,
Aircraft Certification Service.
[FR Doc. 2025–09456 Filed 5–23–25; 8:45 am]
BILLING CODE 4910–13–P
DEPARTMENT OF THE TREASURY
Office of Foreign Assets Control
Notice of OFAC Sanctions Actions
Office of Foreign Assets
Control, Treasury.
ACTION: Notice.
AGENCY:
The U.S. Department of the
Treasury’s Office of Foreign Assets
Control (OFAC) is publishing the names
of persons whose property and interests
in property have been unblocked and
who have been removed from the list of
Specially Designated Nationals and
Blocked Persons (SDN List).
DATES: This action was issued on May
21, 2025. See SUPPLEMENTARY
INFORMATION for relevant dates.
FOR FURTHER INFORMATION CONTACT:
OFAC: Associate Director for Global
Targeting, 202–622–2420; Assistant
Director for Licensing, 202–622–2480;
the Assistant Director for Sanctions
Compliance, 202–622–2490 or https://
ofac.treasury.gov/contact-ofac.
SUPPLEMENTARY INFORMATION:
SUMMARY:
Electronic Availability
The SDN List and additional
information concerning OFAC sanctions
programs are available on OFAC’s
website: https://ofac.treasury.gov.
Notice of OFAC Actions
On May 21, 2025, OFAC has
determined that circumstances no
longer warrant the inclusion of the
following persons on the SDN List and
their property and interests in property
are no longer blocked pursuant to either
Executive Order (E.O.) 13850 or E.O.
13857:
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Individuals
1. GONZALEZ DELLAN, Leonardo (a.k.a.
GONZALEZ, Leonardo), London, United
Kingdom; DOB 11 Sep 1966; citizen
Venezuela; Gender Male; Cedula No.
8639102 (Venezuela); Passport 073785390
(Venezuela) expires 01 Jul 2018; alt. Passport
046041771 (Venezuela) expires 24 May 2016;
alt. Passport 002272834 (Venezuela) expires
14 Aug 2012 (individual) [VENEZUELA–
EO13850].
2. FLEMING CABRERA, Alejandro
Antonio, Caracas, Capital District, Venezuela;
DOB 03 Oct 1973; Gender Male; Cedula No.
11953485 (Venezuela); Vice Minister for
Europe of Venezuela’s Ministry of Foreign
Affairs; Former Vice Minister for North
America of Venezuela’s Ministry of Foreign
Affairs; Former President of Venezuela’s
National Center for Foreign Commerce
(CENCOEX); Former President for
Suministros Venezolanos Industriales, C.A.
(SUVINCA) of Venezuela’s Ministry of
Commerce; Former Ambassador of Venezuela
to Luxembourg and Chief Ambassador of the
Venezuelan Mission to the European Union
(individual) [VENEZUELA].
Lisa M. Palluconi,
Acting Director, Office of Foreign Assets
Control.
[FR Doc. 2025–09439 Filed 5–23–25; 8:45 am]
BILLING CODE 4810–AL–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Credit for Renewable Electricity
Production and Publication of Inflation
Adjustment Factor and Reference
Price for Calendar Year 2025
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice of publication.
AGENCY:
The 2025 inflation adjustment
factor and reference price are used in
determining the availability of the credit
for renewable electricity production
under section 45 (section 45 credit).
FOR FURTHER INFORMATION CONTACT:
Charles Hyde, CC:ECE:2, Internal
Revenue Service, 1111 Constitution
Avenue NW, Washington, DC 20224,
(202) 317–6853 (not a toll-free number).
SUPPLEMENTARY INFORMATION: The 2025
inflation adjustment factor and
reference price apply to calendar year
2025 sales of kilowatt hours of
electricity produced in the United States
or a possession thereof from qualified
energy resources.
Inflation Adjustment Factor: The
inflation adjustment factor for calendar
year 2025 for qualified energy resources
is 1.9971.
Reference Price: The reference price
for calendar year 2025 for facilities
producing electricity from wind is 3.1
SUMMARY:
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Federal Register / Vol. 90, No. 100 / Tuesday, May 27, 2025 / Notices
cents per kilowatt hour. The reference
prices for facilities producing electricity
from closed-loop biomass, open-loop
biomass, geothermal energy, solar
energy, municipal solid waste, qualified
hydropower production, and marine
and hydrokinetic renewable energy have
not been determined for calendar year
2025.
Phaseout Calculation: Because the
2025 reference price for electricity
produced from wind (3.1 cents per
kilowatt hour) does not exceed 8 cents
multiplied by the inflation adjustment
factor (1.9971), the phaseout of the
credit provided in section 45(b)(1) does
not apply to such electricity sold during
calendar year 2025. For electricity
produced from closed-loop biomass,
open-loop biomass, geothermal energy,
solar energy, municipal solid waste,
qualified hydropower production, and
marine and hydrokinetic renewable
energy, the phaseout of the credit
provided in section 45(b)(1) does not
apply to such electricity sold during
calendar year 2025.
Inflation Reduction Act Amendments:
Section 45 was amended by section
13101 of Public Law 117–169, 136 Stat.
1818 (August 16, 2022), commonly
known as the Inflation Reduction Act of
2022 (IRA). The IRA changed the
manner in which the section 45 credit
amounts are calculated for any qualified
facility placed in service after December
31, 2021.
As amended by the IRA, section
45(b)(6)(A) provides that, in the case of
any qualified facility that satisfies the
requirements of section 45(b)(6)(B), the
credit amount determined under section
45(a) (determined after the application
of section 45(b)(1) through (5) and
without regard to section 45(b)(6)) is
equal to such amount multiplied by 5.
A qualified facility satisfies the
requirements of section 45(b)(6)(B) if it
is placed in service after December 31,
2021, and it is one of the following: (i)
a facility with a maximum net output of
less than 1 megawatt (as measured in
alternating current); (ii) a facility the
construction of which began prior to
January 29, 2023, which is the date that
is 60 days after the publication of the
guidance with respect to the
requirements of section 45(b)(7)(A)
(prevailing wage requirements) and
section 45(b)(8) (apprenticeship
requirements); or (iii) a facility that
satisfies the requirements of section
45(b)(7)(A) and (8).1 The IRA also added
bonus credit amounts with respect to
1 See sections 1.45–6, 1.45–7, 1.45–8, and 1.45–
12 of the Income Tax Regulations for additional
information regarding the requirements of section
45(b)(6)(B).
VerDate Sep<11>2014
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qualified facilities placed in service
after December 31, 2022, that meet
domestic content requirements under
section 45(b)(9) 2 or energy community
requirements under section 45(b)(11).3
The IRA amended the phaseout of the
section 45 credit for wind facilities
under section 45(b)(5) such that it does
not apply to facilities placed in service
after December 31, 2021. The IRA also
added a new phaseout of the section 45
credit under section 45(b)(10) in the
case of qualified facilities placed in
service after December 31, 2022, for
taxpayers making an elective payment
election under section 6417. The IRA
also amended the credit amount
reduction under section 45(b)(3) in the
case of qualified facilities the
construction of which began after
August 16, 2022.
The IRA amended section 45(d)(4) to
restore the section 45 credit for
electricity produced in solar energy
facilities in the case of qualified
facilities placed in service after
December 31, 2021, and the
construction of which began before
January 1, 2025. Effective for facilities
placed in service after December 31,
2022, the IRA (1) removed the one-half
reduction of the credit amount under
section 45(b)(4)(A) for qualified
hydropower facilities and marine and
hydrokinetic renewable energy facilities
and (2) amended the definition of
marine and hydrokinetic renewable
energy under section 45(c)(10) and the
definition of a marine and hydrokinetic
renewable energy facility under section
45(d)(11). The IRA also extended certain
deadlines in the definitions under
section 45(d) for wind facilities, closedloop biomass facilities, open-loop
biomass facilities, geothermal facilities,
landfill gas facilities, trash facilities,
qualified hydropower facilities, and
marine and hydrokinetic renewable
energy facilities.
Credit Amount for a Qualified Facility
Placed in Service before January 1,
2022: As required by section 45(b)(2),
the 1.5 cent amount provided in section
45(a)(1) is adjusted by multiplying such
amount by the inflation adjustment
factor for the calendar year in which the
sale occurs. If any amount as increased
under section 45(b)(2) is not a multiple
of 0.1 cent, such amount is rounded to
the nearest multiple of 0.1 cent. In the
2 See Notice 2023–38, 2023–22 I.R.B. 872 (May
12, 2023), Notice 2024–41, 2024–24 I.R.B. 1615
(May 16, 2024), corrected at IR 2024–147 (May 24,
2024), and Notice 2025–08, 2025–8 I.R.B. 800
(February 18, 2025), for additional information
regarding the domestic content bonus credit.
3 See Notice 2024–30, 2024–16 I.R.B. 878 (April
15, 2024), for additional information regarding the
energy community bonus credit.
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22439
case of electricity produced in openloop biomass facilities, landfill gas
facilities, trash facilities, qualified
hydropower facilities, and marine and
hydrokinetic renewable energy
facilities, section 45(b)(4)(A) requires
the amount in effect under section
45(a)(1) for such calendar year (before
rounding to the nearest 0.1 cent as
required by section 45(b)(2)) to be
reduced by one-half.4
Under the calculation required by
section 45(b)(2), the credit for renewable
electricity production for calendar year
2025 determined under section 45(a) is
3 cents per kilowatt hour on the sale of
electricity produced in any qualified
facility placed in service before January
1, 2022, from the qualified energy
resources of wind, closed-loop biomass,
and geothermal energy, and 1.5 cents
per kilowatt hour on the sale of
electricity produced in any qualified
facility placed in service before January
1, 2022, from the qualified energy
resources of open-loop biomass, landfill
gas, trash, qualified hydropower, and
marine and hydrokinetic renewable
energy.
Credit Amount for a Qualified Facility
Placed in Service after December 31,
2021: As required by section 45(b)(2),
the 0.3 cent amount provided in section
45(a)(1) is adjusted by multiplying such
amount by the inflation adjustment
factor for the calendar year in which the
sale occurs. If the 0.3 cent amount as
adjusted for inflation is not a multiple
of 0.05 cent, the amount is rounded to
the nearest multiple of 0.05 cent. In the
case of electricity produced in openloop biomass facilities, landfill gas
facilities, trash facilities, qualified
hydropower facilities, and marine and
hydrokinetic renewable energy
facilities, section 45(b)(4)(A) requires
the amount in effect under section
45(a)(1) for such calendar year
(determined before rounding as required
by section 45(b)(2)) to be reduced by
one-half.
Under the calculation required by
section 45(b)(2), the credit for renewable
electricity production for calendar year
2025 determined under section 45(a) is
0.6 cents per kilowatt hour on the sale
of electricity produced in any qualified
facility placed in service after December
31, 2021, from the qualified energy
resources of wind, closed-loop biomass,
geothermal energy, and solar energy,
and 0.3 cents per kilowatt hour on the
sale of electricity produced in any
4 As amended by the IRA and discussed later in
this notice, the one-half reduction under section
45(b)(4)(A) no longer applies to qualified
hydropower facilities and marine and hydrokinetic
renewable energy facilities placed in service after
December 31, 2022.
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22440
Federal Register / Vol. 90, No. 100 / Tuesday, May 27, 2025 / Notices
khammond on DSK9W7S144PROD with NOTICES
qualified facility placed in service after
December 31, 2021, from the qualified
energy resources of open-loop biomass,
landfill gas, and trash. The credit for
renewable electricity production for
calendar year 2025 determined under
section 45(a) is also 0.3 cents per
kilowatt hour on the sale of electricity
produced in any qualified facility
placed in service after December 31,
2021, and before January 1, 2023, from
the qualified energy resources of
qualified hydropower and marine and
hydrokinetic renewable energy.
Credit Amount for Qualified
Hydropower Facilities and Marine and
Hydrokinetic Renewable Energy
Facilities Placed in Service After
December 31, 2022: The one-half
reduction under section 45(b)(4)(A) no
longer applies to qualified hydropower
facilities and marine and hydrokinetic
renewable energy facilities placed in
service after December 31, 2022.
Accordingly, under the calculation
required by section 45(b)(2), the credit
for renewable electricity production for
calendar year 2025 determined under
section 45(a) is 0.6 cents per kilowatt
hour on the sale of electricity produced
in any qualified facility placed in
service after December 31, 2022, from
the qualified energy resources of
qualified hydropower and marine and
hydrokinetic renewable energy.
VerDate Sep<11>2014
17:22 May 23, 2025
Jkt 265001
(Authority: 45(e)(2)(A) (26 U.S.C. 45(e)(2)(A))
of the Internal Revenue Code.)
Christopher T. Kelley,
Special Counsel to the Associate Chief
Counsel, (Energy, Credits, and Excise Tax).
[FR Doc. 2025–09366 Filed 5–23–25; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF VETERANS
AFFAIRS
Cooperative Studies Scientific
Evaluation Committee, Amended,
Notice of Meeting
The Department of Veterans Affairs
(VA) gives notice under the Federal
Advisory Committee Act, 5 U.S.C. Ch.
10, that the Cooperative Studies
Scientific Evaluation Committee
(CSSEC) will hold a virtual meeting on
June 12, 2025, via MS Teams from 10
a.m.–4 p.m. EST.
The Committee provides expert
advice on VA cooperative studies,
multi-site clinical research activities,
and policies related to conducting and
managing these efforts. The session will
be open to the public for the first 30
minutes of the meeting (approximately)
for the discussion of administrative
matters and the general status of the
program. The remaining portion of the
meeting will be closed to the public for
the Committee’s review, discussion, and
evaluation of research and development
applications.
During the closed portion of the
meeting, the Committee’s discussions
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and recommendations will address the
qualifications of the personnel
conducting the studies; staff and
consultant critiques of research
proposals and similar documents; and
the medical records of study subjects,
the disclosure of which would
constitute a clearly unwarranted
invasion of personal privacy.
Additionally, premature disclosure of
research information to the public could
significantly obstruct implementation of
approved research activities. As
provided by Public Law 92–463
subsection 10(d), and amended by
Public Law 94–409, closing the
Committee meeting is in accordance
with 5 U.S.C. 552b(c)(6) and (9)(B).
The Committee will not accept oral
comments from the public for the open
portion of the meeting. Members of the
public who wish to attend the open
teleconference should call 872–701–
0185, conference ID 554 433 71#. Those
who plan to attend, would like
additional information, or would like to
submit written comments should
contact David Burnaska, Program
Manager, Cooperative Studies Program
(14RD), Department of Veterans Affairs,
810 Vermont Avenue NW, Washington,
DC 20420, at David.Burnaska@va.gov.
Dated: May 21, 2025.
LaTonya L. Small,
Federal Advisory Committee Management
Officer.
[FR Doc. 2025–09494 Filed 5–23–25; 8:45 am]
BILLING CODE 8320–01–P
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]]>Agencies
[Federal Register Volume 90, Number 100 (Tuesday, May 27, 2025)]
[Notices]
[Pages 22438-22440]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2025-09366]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Credit for Renewable Electricity Production and Publication of
Inflation Adjustment Factor and Reference Price for Calendar Year 2025
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Notice of publication.
-----------------------------------------------------------------------
SUMMARY: The 2025 inflation adjustment factor and reference price are
used in determining the availability of the credit for renewable
electricity production under section 45 (section 45 credit).
FOR FURTHER INFORMATION CONTACT: Charles Hyde, CC:ECE:2, Internal
Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224,
(202) 317-6853 (not a toll-free number).
SUPPLEMENTARY INFORMATION: The 2025 inflation adjustment factor and
reference price apply to calendar year 2025 sales of kilowatt hours of
electricity produced in the United States or a possession thereof from
qualified energy resources.
Inflation Adjustment Factor: The inflation adjustment factor for
calendar year 2025 for qualified energy resources is 1.9971.
Reference Price: The reference price for calendar year 2025 for
facilities producing electricity from wind is 3.1
[[Page 22439]]
cents per kilowatt hour. The reference prices for facilities producing
electricity from closed-loop biomass, open-loop biomass, geothermal
energy, solar energy, municipal solid waste, qualified hydropower
production, and marine and hydrokinetic renewable energy have not been
determined for calendar year 2025.
Phaseout Calculation: Because the 2025 reference price for
electricity produced from wind (3.1 cents per kilowatt hour) does not
exceed 8 cents multiplied by the inflation adjustment factor (1.9971),
the phaseout of the credit provided in section 45(b)(1) does not apply
to such electricity sold during calendar year 2025. For electricity
produced from closed-loop biomass, open-loop biomass, geothermal
energy, solar energy, municipal solid waste, qualified hydropower
production, and marine and hydrokinetic renewable energy, the phaseout
of the credit provided in section 45(b)(1) does not apply to such
electricity sold during calendar year 2025.
Inflation Reduction Act Amendments: Section 45 was amended by
section 13101 of Public Law 117-169, 136 Stat. 1818 (August 16, 2022),
commonly known as the Inflation Reduction Act of 2022 (IRA). The IRA
changed the manner in which the section 45 credit amounts are
calculated for any qualified facility placed in service after December
31, 2021.
As amended by the IRA, section 45(b)(6)(A) provides that, in the
case of any qualified facility that satisfies the requirements of
section 45(b)(6)(B), the credit amount determined under section 45(a)
(determined after the application of section 45(b)(1) through (5) and
without regard to section 45(b)(6)) is equal to such amount multiplied
by 5. A qualified facility satisfies the requirements of section
45(b)(6)(B) if it is placed in service after December 31, 2021, and it
is one of the following: (i) a facility with a maximum net output of
less than 1 megawatt (as measured in alternating current); (ii) a
facility the construction of which began prior to January 29, 2023,
which is the date that is 60 days after the publication of the guidance
with respect to the requirements of section 45(b)(7)(A) (prevailing
wage requirements) and section 45(b)(8) (apprenticeship requirements);
or (iii) a facility that satisfies the requirements of section
45(b)(7)(A) and (8).\1\ The IRA also added bonus credit amounts with
respect to qualified facilities placed in service after December 31,
2022, that meet domestic content requirements under section 45(b)(9)
\2\ or energy community requirements under section 45(b)(11).\3\
---------------------------------------------------------------------------
\1\ See sections 1.45-6, 1.45-7, 1.45-8, and 1.45-12 of the
Income Tax Regulations for additional information regarding the
requirements of section 45(b)(6)(B).
\2\ See Notice 2023-38, 2023-22 I.R.B. 872 (May 12, 2023),
Notice 2024-41, 2024-24 I.R.B. 1615 (May 16, 2024), corrected at IR
2024-147 (May 24, 2024), and Notice 2025-08, 2025-8 I.R.B. 800
(February 18, 2025), for additional information regarding the
domestic content bonus credit.
\3\ See Notice 2024-30, 2024-16 I.R.B. 878 (April 15, 2024), for
additional information regarding the energy community bonus credit.
---------------------------------------------------------------------------
The IRA amended the phaseout of the section 45 credit for wind
facilities under section 45(b)(5) such that it does not apply to
facilities placed in service after December 31, 2021. The IRA also
added a new phaseout of the section 45 credit under section 45(b)(10)
in the case of qualified facilities placed in service after December
31, 2022, for taxpayers making an elective payment election under
section 6417. The IRA also amended the credit amount reduction under
section 45(b)(3) in the case of qualified facilities the construction
of which began after August 16, 2022.
The IRA amended section 45(d)(4) to restore the section 45 credit
for electricity produced in solar energy facilities in the case of
qualified facilities placed in service after December 31, 2021, and the
construction of which began before January 1, 2025. Effective for
facilities placed in service after December 31, 2022, the IRA (1)
removed the one-half reduction of the credit amount under section
45(b)(4)(A) for qualified hydropower facilities and marine and
hydrokinetic renewable energy facilities and (2) amended the definition
of marine and hydrokinetic renewable energy under section 45(c)(10) and
the definition of a marine and hydrokinetic renewable energy facility
under section 45(d)(11). The IRA also extended certain deadlines in the
definitions under section 45(d) for wind facilities, closed-loop
biomass facilities, open-loop biomass facilities, geothermal
facilities, landfill gas facilities, trash facilities, qualified
hydropower facilities, and marine and hydrokinetic renewable energy
facilities.
Credit Amount for a Qualified Facility Placed in Service before
January 1, 2022: As required by section 45(b)(2), the 1.5 cent amount
provided in section 45(a)(1) is adjusted by multiplying such amount by
the inflation adjustment factor for the calendar year in which the sale
occurs. If any amount as increased under section 45(b)(2) is not a
multiple of 0.1 cent, such amount is rounded to the nearest multiple of
0.1 cent. In the case of electricity produced in open-loop biomass
facilities, landfill gas facilities, trash facilities, qualified
hydropower facilities, and marine and hydrokinetic renewable energy
facilities, section 45(b)(4)(A) requires the amount in effect under
section 45(a)(1) for such calendar year (before rounding to the nearest
0.1 cent as required by section 45(b)(2)) to be reduced by one-half.\4\
---------------------------------------------------------------------------
\4\ As amended by the IRA and discussed later in this notice,
the one-half reduction under section 45(b)(4)(A) no longer applies
to qualified hydropower facilities and marine and hydrokinetic
renewable energy facilities placed in service after December 31,
2022.
---------------------------------------------------------------------------
Under the calculation required by section 45(b)(2), the credit for
renewable electricity production for calendar year 2025 determined
under section 45(a) is 3 cents per kilowatt hour on the sale of
electricity produced in any qualified facility placed in service before
January 1, 2022, from the qualified energy resources of wind, closed-
loop biomass, and geothermal energy, and 1.5 cents per kilowatt hour on
the sale of electricity produced in any qualified facility placed in
service before January 1, 2022, from the qualified energy resources of
open-loop biomass, landfill gas, trash, qualified hydropower, and
marine and hydrokinetic renewable energy.
Credit Amount for a Qualified Facility Placed in Service after
December 31, 2021: As required by section 45(b)(2), the 0.3 cent amount
provided in section 45(a)(1) is adjusted by multiplying such amount by
the inflation adjustment factor for the calendar year in which the sale
occurs. If the 0.3 cent amount as adjusted for inflation is not a
multiple of 0.05 cent, the amount is rounded to the nearest multiple of
0.05 cent. In the case of electricity produced in open-loop biomass
facilities, landfill gas facilities, trash facilities, qualified
hydropower facilities, and marine and hydrokinetic renewable energy
facilities, section 45(b)(4)(A) requires the amount in effect under
section 45(a)(1) for such calendar year (determined before rounding as
required by section 45(b)(2)) to be reduced by one-half.
Under the calculation required by section 45(b)(2), the credit for
renewable electricity production for calendar year 2025 determined
under section 45(a) is 0.6 cents per kilowatt hour on the sale of
electricity produced in any qualified facility placed in service after
December 31, 2021, from the qualified energy resources of wind, closed-
loop biomass, geothermal energy, and solar energy, and 0.3 cents per
kilowatt hour on the sale of electricity produced in any
[[Page 22440]]
qualified facility placed in service after December 31, 2021, from the
qualified energy resources of open-loop biomass, landfill gas, and
trash. The credit for renewable electricity production for calendar
year 2025 determined under section 45(a) is also 0.3 cents per kilowatt
hour on the sale of electricity produced in any qualified facility
placed in service after December 31, 2021, and before January 1, 2023,
from the qualified energy resources of qualified hydropower and marine
and hydrokinetic renewable energy.
Credit Amount for Qualified Hydropower Facilities and Marine and
Hydrokinetic Renewable Energy Facilities Placed in Service After
December 31, 2022: The one-half reduction under section 45(b)(4)(A) no
longer applies to qualified hydropower facilities and marine and
hydrokinetic renewable energy facilities placed in service after
December 31, 2022. Accordingly, under the calculation required by
section 45(b)(2), the credit for renewable electricity production for
calendar year 2025 determined under section 45(a) is 0.6 cents per
kilowatt hour on the sale of electricity produced in any qualified
facility placed in service after December 31, 2022, from the qualified
energy resources of qualified hydropower and marine and hydrokinetic
renewable energy.
(Authority: 45(e)(2)(A) (26 U.S.C. 45(e)(2)(A)) of the Internal
Revenue Code.)
Christopher T. Kelley,
Special Counsel to the Associate Chief Counsel, (Energy, Credits, and
Excise Tax).
[FR Doc. 2025-09366 Filed 5-23-25; 8:45 am]
BILLING CODE 4830-01-P
