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Tax credits and other incentives contained in the bill are driving cross-industry collaboration among real estate, transportation and energy lawyers to help clients plan for the long-term.
While the inflation-reducing effects of the Biden administration’s $740 billion tax, climate and health care package signed into law last month may be overstated, energy lawyers in Pennsylvania say the Inflation Reduction Act has made long-term renewable energy development more feasible for clients.
Tax credits for carbon sequestration have been extended under the act to projects that begin before 2033, opening the door for companies to use the greater Appalachia region and Brownfield sites as part of their compliance with long-term emissions requirements.
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