The Department of Energy’s Office of Policy announced this week that the American Public Power Association is one of five organizations that will receive funding to develop “blueprints” for developing projects making use of elective pay energy tax credits.
APPA submitted its request to DOE in August and has been working through the fall with the department to finalize details of the agreement.
Under the agreement, APPA will develop a “blueprint” specifically designed to guide public power utilities through the process of developing elective pay tax credit projects.
The goal is a step-by-step review of project development – from assembling your project team to filing for elective pay once the project is in service. The blueprint will focus at each stage on issues of specific concern as a result of elective payment, while also providing direction to readers as to where additional resources can be found for issues that fall outside the blueprint’s scope.
The document is scheduled to be completed in May and will be drafted relying on in-house staff and outside experts in project development, tax law, accounting, and municipal finance.
In addition, APPA has obtained commitments from public power utilities that have already gone through the elective pay process to “stress test” the document to ensure that it provides the breadth and depth of guidance needed.
