Latest clean-energy and manufacturing incentives and grants from the US and Europe

Now that companies have begun claiming tax credits and grants under the Inflation Reduction Act of 2022 (IRA) and the Investment, Infrastructure and Jobs Act (IIJA), many have questions about the incentives’ requirements, as well as their applicability, timing and disbursement process (which may be time-sensitive). The European Union’s recent release of its Green Deal Industrial Plan, which includes initial details to better match US green subsidies for manufacturing, raises similar questions.

Join our panelists for an in-depth discussion of these incentives. Topics to be discussed include:

• Notice 2023-18, which provides updated guidance and timing on the Section 48C Advanced Manufacturing Tax Credit 
• How taxpayers claiming IRA tax credits can use technology to secure a 30% bonus credit (instead of the 6% base credit) by paying laborers prevailing wages and utilizing apprentices
• Additional discussion of the benefits of Energy communities and other designations
• Updated guidance and timing for IIJA incentives
• Updated guidance under Section 45X and lessons learned
• Guidance on Section 48 and Section 45 clean energy credits and lessons learned
• Potential benefits of the Green Deal Industrial Plan for European manufacturers 

Panelists

• Dorian Hunt, Managing Director, Indirect Tax Credits & Incentives, Ernst & Young LLP
• Akshay Honnatti, Senior Manager, US Sustainability Tax Leader, Ernst & Young LLP
• Ingo Bunzeck, Managing Director, Global R&D and Innovation Services - EMEIA Tax Desk, Ernst & Young LLP (Belgium)
• David Camerucci, Senior Manager, Sustainability Tax Credits & Incentives, Ernst & Young LLP
• Dan Nicholas, Federal Grants, Ernst & Young LLP

Moderator

• Paul Naumoff, EY Global Sustainability Tax Co-Leader and Principal, Global Location Investment, Credits & Incentives Services, Ernst & Young LLP

EY webcast managed and produced by the NTD Tax Technical Knowledge Services Group, Washington, DC: Lynn Fairfax