Biomass and notice 2006-88.

Tax Adviser, The, May, 2007 by Reinstein, Todd B.

As concerns for the nation's energy supply have risen, the Federal government has periodically provided various incentives to encourage the use of renewable energy sources. Under Sec. 45, Congress provided for a renewable production credit for electricity produced by a taxpayer from qualified energy resources (wind, closed- and open-loop biomass, geothermal and solar energy, small irrigation power, municipal solid waste and hydropower) at a qualified facility. Sec. 45(a) provides that the credit for a tax year is 1.5 cents (adjusted for inflation) for each kilowatt hour of electricity produced and sold by the taxpayer from qualified energy resources at a qualified facility for a 10-year period beginning after the facility was placed in service.

Although not as...

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