The IRS has issued a notice that provides a new elective safe harbor for the Domestic Content Bonus Credit and modifies two previous notices. (Notice 2025-8, 2025-8 IRB)
Domestic content bonus credit.
The Inflation Reduction Act of 2022 (IRA) amended Code Sec. 45 and Code Sec. 48 to provide a Domestic Content Bonus Credit for certain qualified facilities or energy projects placed in service after December 31, 2022.
The IRA also added new Code Sec. 45Y and Code Sec. 48E to provide a Domestic Content Bonus Credit for certain investments in “qualified facilities” or energy storage technologies placed in service after December 31, 2024.
To dig deeper, visit the original article on the Thomson Reuters blog.