Tax relief program for renewable energy projects
The Treasury Department and Internal Revenue Service (IRS) issued notice 2020-41 to provide tax relief for taxpayers that develop renewable energy projects that produce electricity from renewable sources and use technologies such as solar panels, fuel cells, microturbines, and combined heat and power systems.
Notice 2020-41 also extends the "Continuity Safe Harbor" by one year for projects that began construction in 2016/2017, and provides a 3½ Month Safe Harbor for services or property paid for by the taxpayer on or after September 16, 2019 and received by October 15, 2020.
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