LPPC Calls for Certainty and Clarity on Domestic Content Requirements
The Large Public Power Council issued the following statement in response to the U.S. Department of the Treasury’s guidance on domestic content requirements released on May 12, 2023.
“Certainty from the federal government is vital as public power works to expand the ways clean energy powers our nation. While today’s guidance issued by the U.S. Department of Treasury provides some clarity regarding the mechanics of the domestic content requirements, it fails to address the risk faced by public power systems hoping to utilize the direct pay tax credits included in the Inflation Reduction Act to invest in new clean energy projects. To ensure the 49 million Americans who rely on public power are not left behind during this transition, LPPC strongly urges the U.S. Department of Treasury to issue further guidance regarding compliance with the domestic content rule during the planning, design, and construction of a project specifically for public power utilities so that they will not be at risk for losing the entire tax credit.”