• Legal Alert: The Long-Awaited “Solar Beginning of Construction Notice”–Notice 2018-59 Provides Guidance for Solar and Other Section 48 ITC-Eligible Facilities
  • July 4, 2018 | Author: Engin K. Nural
  • Law Firm: Eversheds Sutherland (US) LLP - Washington Office
  • On June 22, 2018, the Internal Revenue Service (IRS) issued much-anticipated guidance to help developers of, and other industry participants in, solar, qualified fuel cell, qualified microturbine, combined heat and power, qualified small wind and geothermal heat pump facilities determine whether and when the beginning of construction requirement is satisfied for the investment tax credit (ITC) under section 48. This guidance, Notice 2018-59, is in large part consistent with six prior beginning of construction notices issued for wind facilities – Notice 2013-29, Notice 2013-60, Notice 2014-46, Notice 2015-25, Notice 2016-31, and Notice 2017-4.1