David G. Mandelbaum of Greenberg Traurig. Courtesy photo Environmental Law and the Brownfield 'Energy Community' Clean Energy Tax Credit Bonus Under the IRA
There may be some confusion over how "brown" a "brownfield" has to be to qualify, but just the label connotes an increased risk of residual liability to those associated with the site to clean up contamination. Therefore, these tax provisions create a demand for the conventional environmental practice tools that manage that risk.
March 04, 2024 at 09:38 AM
8 minute read
Environmental Law
The Inflation Reduction Act, Pub. L. No. 117-169, 136 Stat. 1818 (Aug. 16, 2022), among other things creates tax incentives for clean energy development. The IRA enhances those tax credits for energy projects located on a "brownfield." That enhancement will increase development pressure on "brownfield" sites. There may be some confusion over how "brown" a "brownfield" has to be to qualify, but just the label connotes an increased risk of residual liability to those associated with the site to clean up contamination. Therefore, these tax provisions create a demand for the conventional environmental practice tools that manage that risk.
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