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Introduction

SECTION 2. BACKGROUND

Internal Revenue Bulletin 2013-10 · 2026-10-03 edition · updated 2026-10-04 · United States

.01 Section 46 provides that the amount of the investment credit for any taxable year is the sum of the credits listed in § 46. That list includes the qualifying advanced energy project credit under § 48C.

.02 Section 48C(d)(1) provides that the Secretary, in consultation with the Secretary of Energy, shall establish a qualifying advanced energy project program to consider and award certifications for qualified investments eligible for credits to quali

fying advanced energy project sponsors. In 2009, the Treasury Department and the Service, in consultation with the Secretary of Energy, established the § 48C Phase I program in Notice 2009–72, 2009–37 I.R.B. 325.

.03 Pursuant to § 48C(d)(1)(B), the § 48C Phase I program provided for $ 2.3 billion of credits to be allocated to qualifying advanced energy projects. The Service fully allocated $2.3 billion of credits under the § 48C Phase I program in 2009–2010.

.04 Section 48C(d)(4) requires the Secretary to review the allocation of § 48C Phase I credits not later than the date that is 4 years after the date of enactment of § 48C. The Secretary may conduct an additional program for applications for certification if the Secretary determines that: (1) there is an insufficient quantity of qualifying applications for certification pending at the time of the review, or (2) any certification made pursuant to § 48C(d)(2) has been revoked pursuant to § 48C(d)(2)(B) because the project subject to the certification has been delayed as a result of third-party opposition or litigation.

.05 The Service has completed this review and has determined that § 48C Phase I credits in the total amount of $150,228,397.00 are available for reallocation under the § 48C Phase II program.

.06 Pursuant to § 48C(a), the qualifying advanced energy project credit for a taxable year is an amount equal to 30 percent of the qualified investment (as defined in

2013–10 I.R.B. 543 March 4, 2013

the Service has accepted the taxpayer’s application for § 48C certification with respect to the property.

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▸Contents — Internal Revenue Bulletin 2013-10
Internal Revenue Bulletin 2013-10

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