The U.S. Treasury Department (Treasury) and Internal Revenue Service (IRS) issued guidance (Notice 2023-29, clarified by Notice 2023-45, and modified by Notice 2024-30) (the Notices) that may be helpful to developers and investors looking to qualify for the bonus energy credit for certain qualified facilities, energy projects, or energy storage technologies that are located or placed in service in communities formerly served by the fossil fuel industry. The Notices describe certain rules to be included in forthcoming proposed regulations for determining what constitutes an energy community for the bonus credit for the production and investment tax credits.

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