Initial guidance issued for domestic content bonus credit

May 20, 2023

The Treasury Department and IRS have issued initial guidance for owners of green energy projects, such as wind, solar and energy storage technologies.

Notice 2023-38 addresses the application of the rules that taxpayers must satisfy to qualify for the domestic content bonus credit amounts and the related recordkeeping and certification requirements.

Domestic content is generally defined as steel, iron or manufactured products made in the U.S.

The guidance also describes a safe harbor regarding the classification of certain components in representative types of qualified facilities, energy projects or energy storage technologies. Learn more.

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