26 C.F.R. § 1.48(e)-0

Current through October 31, 2024

Section 1.48(e)-0 - Table of contents

This section lists the captions contained in § 1.48(e)-1 .

§ 1.48(e)-1 Low-Income Communities Bonus Credit Program.

(a) In general.

(b) Qualified solar or wind facility defined.

(1) In general.

(2) Facility categories.

(i) Category 1 Facility.

(ii) Category 2 Facility.

(iii) Category 3 Facility.

(iv) Category 4 Facility.

(3) Single project treated as single facility.

(c) Eligible property.

(1) In general.

(2) Energy storage technology installed in connection with qualified solar or wind facility.

(3) Safe harbor for requirement of paragraph (c)(2)(ii) of this section.

(d) Location.

(1) In general.

(2) Nameplate Capacity Test.

(i) Nameplate capacity for purpose of Nameplate Capacity Test.

(ii) Exclusion of energy storage technology.

(e) Financial benefits for a Category 3 Facility.

(1) In general.

(2) Threshold requirement.

(3) Financial value of the energy produced by the facility.

(4) Gross financial value.

(5) Net financial value defined.

(i) Common ownership.

(ii) Third-party ownership.

(iii) Equitable allocation of financial benefits.

(A) If financial value distributed via utility bill savings.

(B) If financial value is not distributed via utility bill savings.

(6) Benefits Sharing Statement.

(i) In general.

(ii) Notification requirement.

(f) Financial benefits for a Category 4 Facility.

(1) In general.

(2) Bill credit discount rate.

(i) In general.

(ii) No or nominal cost of participation.

(iii) Calculation on annual basis.

(iv) Examples.

(A) Example 1.

(B) Example 2.

(3) Low-income verification.

(i) In general.

(ii) Methods of verification.

(A) Categorical eligibility.

(B) Other income verification methods.

(C) Impermissible verification method.

(g) Annual Capacity Limitation.

(h) Reservations of Capacity Limitation allocation for facilities that meet certain additional selection criteria.

(1) In general.

(2) Ownership criteria.

(i) In general.

(ii) Indirect ownership.

(A) Disregarded entities.

(B) Partnership.

(iii) Tribal enterprise.

(iv) Alaska native corporation.

(v) Renewable energy cooperative.

(vi) Qualified renewable energy company.

(vii) Qualified tax-exempt entity.

(3) Geographic criteria.

(i) In general.

(A) Persistent Poverty County.

(B) Certain census tracts.

(ii) Applicable terms for certain census tracts.

(A) Energy burden or cost.

(B) Exposure.

(C) Energy cost.

(D) PM_2.5.

(E) Low-income.

(i) Sub-reservations of allocation for Category 1 facilities.

(1) In general.

(2) Definitions.

(i) Behind the meter (BTM) facility.

(ii) Eligible residential BTM facility.

(iii) Eligible FTM facility.

(j) Process of application evaluation.

(1) In general.

(2) Information required as part of application.

(3) No administrative appeal of capacity limitation allocation decisions.

(k) Placed in service.

(1) Requirement to report date placed in service.

(2) Requirement to submit final eligibility information at placed in service time.

(3) DOE confirmation.

(4) Definition of placed in service.

(l) Facilities placed in service prior to an allocation award.

(1) In general.

(2) Rejection or rescission.

(m) Disqualification.

(n) Recapture of section 48(e) increase to the section 48(a) credit.

(1) In general.

(2) Exception to application of recapture.

(3) Recapture events.

(4) Section 50(a) Recapture.

(o) Applicability date.

26 C.F.R. §1.48(e)-0

T.D. 9979, 88 FR 55540 , Aug. 15, 2023; 88 FR 59446 , Aug. 29, 2023

88 FR 55540 , 59446, 10/16/2023