Check out recent guidance from the Internal Revenue Service (IRS) on the advanced manufacturing production credit, which includes new Section 45X. This section provides manufacturers the opportunity to claim incentives for domestically manufacturing multiple wind energy technology components, such as blades, nacelles, towers, fixed bottom and floating offshore wind energy platforms, distributed wind inverters, and specialized offshore wind vessels.

The IRS also released a new form for elective payment or transfer of credits that qualified groups can apply to certain clean energy and manufacturing credits, such as the advanced manufacturing production credit, under the Inflation Reduction Act.