On August 16, 2022, President Biden signed into law the Inflation Reduction Act, which marks the largest investment in clean energy in US history. Principally among its objectives, the IRA aims to (a) incentivize clean energy initiatives and (b) create access for Americans to high-quality jobs and registered apprenticeships in the clean energy industry.
To achieve these goals, the IRA offers long-term support for the construction of clean energy facilities or projects through extended tax credits and ties eligibility for the full amount of such tax credits to compliance with the IRA’s “prevailing wage” and registered apprenticeship requirements. Notably, the “prevailing wage” and registered apprenticeship requirements do not apply to any qualified clean energy facility or project with maximum net output of less than 1 megawatt or if construction begins on or before January 29, 2023.
Prevailing Wage Requirements
Before the passage of the IRA, only contractors and subcontractors working on federally-funded construction projects were subject to prevailing wage requirements, per the Davis-Bacon Act. Now, the IRA extends the prevailing wage requirements of the Davis-Bacon Act in order to provide tax credit incentives to all qualified facilities—and not just federal contractors—that pay prevailing wages to laborers and mechanics performing construction, alteration, or repairs on the facility. Notably, the IRA does not require all workers at a qualified facility to be paid...
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