Biogas Investment Tax Credit Finalized With Favorable Language for RNG
The updated Section 48 Investment Tax Credits were spurred by the Inflation Reduction Act, which passed in 2022. In addition to credits for biogas, the package also included credits for hydrogen storage and offshore wind, among other kinds of clean energy projects.
“We thank the Treasury Department for creating sensible rules that reflect the realities of how biogas systems are built,” Patrick Serfass, executive director of the American Biogas Council, said in a statement. “These rules will give biogas developers certainty on the eligibility of their project investments for tax credits available to clean energy projects.”