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On November 30, 2022, the IRS and the Treasury Department published Notice 2022-61 (the Notice) in the Federal Register. The Notice provides guidance regarding the prevailing wage requirements (the Prevailing Wage Requirements) and the apprenticeship requirements (the Apprenticeship Requirements and, together with the Prevailing Wage Requirements, the Labor Requirements), which a taxpayer must satisfy to be eligible for increased amounts of the following clean energy tax credits under the Internal Revenue Code of 1986 (the Code), as amended by the Inflation Reduction Act of 2022 (the “IRA”):

• the alternative fuel vehicle refueling property credit under Section 30C of the Code (the Vehicle Refueling PC);
• the production tax credit under section 45 of the Code (the PTC);
• the carbon sequestration tax credit under section 45Q of the Code (the Section 45Q Credit);
• the nuclear power production tax credit under section 45U of the Code;
• the hydrogen production tax credit under section 45V of the Code (the Hydrogen PTC);
• the clean electricity production tax credit under section 45Y of the Code (the Clean Electricity PTC);
• the clean fuel production tax credit under section 45Z of the Code;
• the investment tax credit under section 48 of the Code (the ITC);
• the advanced energy project tax credit under section 48C of the Code; and
• the clean electricity production tax credit under section 48E of the Code (the Clean Electricity ITC).[1]

We discussed the IRA, including...

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