Bulletin No. 2024–24

Agency decision

Ask Donna

What actually matters in this document.

Text

HIGHLIGHTS

OF THIS ISSUE

Bulletin No. 2024–24

June 10, 2024

These synopses are intended only as aids to the reader in

identifying the subject matter covered. They may not be

relied upon as authoritative interpretations.

ADMINISTRATIVE

Rev. Rul. 2024-11, page 1459.

Interest rates: underpayments and overpayments. The

rates for interest determined under Section 6621 of the

code for the calendar quarter beginning July 1, 2024, will

be 8 percent for overpayments (7 percent in the case of a

corporation), 8 percent for underpayments, and 10 percent

for large corporate underpayments. The rate of interest

paid on the portion of a corporate overpayment exceeding

$10,000 will be 5.5 percent.

EMPLOYEE PLANS

Notice 2024-40, page 1612.

This notice sets forth updates on the corporate bond

monthly yield curve, the corresponding spot segment rates

for April 2024 used under § 417(e)(3)(D), the 24-month

average segment rates applicable for May 2024, and the

30-year Treasury rates, as reflected by the application of §

430(h)(2)(C)(iv).

EXEMPT ORGANIZATIONS

Announcement 2024-22, page 1673.

Revocation of IRC 501(c)(3) Organizations for failure to

meet the code section requirements. Contributions made to

the organizations by individual donors are no longer deductible under IRC 170(b)(1)(A).

Announcement 2024-23, page 1674.

The Internal Revenue Service has revoked its determination that Functional Health Inc qualifies as an organization

described in sections 501(c )(3) and 170(c )(2) of the Internal Revenue Code of 1986. The revocation is effective January 31, 2018. If a suite for declaratory judgment has been

Finding Lists begin on page ii.

timely filed, contributions from individuals and organizations

described in section 170(c )(2) that are otherwise allowable will continue to be deductible. Protection under section

7428(c ) would begin on January 1, 2018 and would end on

the date the court first determines the organization is not

described in section 170(c )(2) as more particularly set for

in section 7428(c )(1). For individual contributions, the maximum deduction protected is $1,000, with a husband and

wife treated as one contributor. This benefit is not extended

to any individual, in whole or in part, for the acts or omissions of the organization that were the basis for revocation.

INCOME TAX

Announcement 2024-24, page 1675.

This announcement notifies taxpayers of the applicable Reference Standard 90.1 required under § 179D(c)(2) of the

Internal Revenue Code as part of the definition of energy efficient commercial building property (EECBP). This announcement supplements and supersedes Announcement 2023-1,

2023-3 I.R.B. 422 (2023), by affirming ASHRAE/IES Reference Standard 90.1-2022 as the applicable Reference

Standard 90.1 for EECBP placed in service after December

31, 2028, and the construction of which did not begin by

December 31, 2022.

Notice 2024-36, page 1479.

This notice clarifies and amplifies the previously established

§ 48C(e) guidance and allocation procedures published in

Notices 2023-18 and 2023-44 by announcing the second

round of credit allocations under the § 48C(e) program to

allocate approximately $6 billion of § 48C credits, with

approximately $2.4 billion in § 48C credits to be allocated

to projects located in § 48C(e) Energy Communities Census

Tracts. The notice also updates appendices A, B and C.

Appendix A and B clarify § 48C(e) program priorities for this

second round of allocations. Appendix C updates the list of

§ 48C(e) Energy Communities Census Tracts.

Notice 2024-39, page 1611.

This notice publishes the inflation adjustment factor for the

carbon oxide sequestration credit under § 45Q for calendar year 2024. The inflation adjustment factor is used to

determine the amount of the credit allowable under § 45Q

for taxpayers that make an election under § 45Q(b)(3) to

have the dollar amounts applicable under § 45Q(a)(1) or

(2) apply. This notice also obsoletes Notice 2009-83 and

Notice 2011-25.

Notice 2024-41, page 1615.

This notice modifies the existing domestic content safe

harbor in Notice 2023-38, 2023-22 I.R.B. 872, by expanding the non-exclusive list of “Applicable Projects” in “Table

2--Categorization of Applicable Project Components” from

Notice 2023-38 to include hydropower and pumped hydropower storage facilities, redesignating the “Utility scale photovoltaic system” Applicable Project as “Ground-mount and

rooftop photovoltaic system,” and including certain Manufactured Product Components for previously listed Applicable Projects for the domestic content bonus credit amounts

under §§ 45, 45Y, 48, and 48E of the Internal Revenue

Code. The notice also provides a new elective safe harbor

that taxpayers may use to classify Applicable Project Com-

ponents and to calculate the Domestic Cost Percentage in

an Applicable Project to qualify for the domestic content

bonus credit amounts, and requests comments regarding

the new elective safe harbor to inform the development of

any future updates.

REG-124850-08, page 1624.

U.S. persons must report information about, and pay

income taxes with respect to, certain transactions with foreign trusts. U.S. persons also must report information to

the IRS when they receive large gifts, bequests, devises, or

inheritances (foreign gifts) from foreign persons. The proposed regulations describe the transactions and the foreign

gifts that must be reported to the IRS, as well as identify

the U.S. persons who must report them and pay any corresponding income taxes. U.S. persons who fail to timely

report this information to the IRS are subject to significant

penalties, and the proposed regulations provide guidance

regarding these penalties. Additionally, U.S. persons are

treated as the owners of certain foreign trusts that have

U.S. beneficiaries. The proposed regulations explain which

foreign trusts have U.S. beneficiaries and identify the U.S.

persons who are treated as the owners of these foreign

trusts. REG-124850-08. Published May 8, 2024.

The IRS Mission

Provide America’s taxpayers top-quality service by helping

them understand and meet their tax responsibilities and

enforce the law with integrity and fairness to all.

Introduction

The Internal Revenue Bulletin is the authoritative instrument

of the Commissioner of Internal Revenue for announcing official rulings and procedures of the Internal Revenue Service

and for publishing Treasury Decisions, Executive Orders, Tax

Conventions, legislation, court decisions, and other items of

general interest. It is published weekly.

It is the policy of the Service to publish in the Bulletin all substantive rulings necessary to promote a uniform application

of the tax laws, including all rulings that supersede, revoke,

modify, or amend any of those previously published in the

Bulletin. All published rulings apply retroactively unless otherwise indicated. Procedures relating solely to matters of internal management are not published; however, statements of

internal practices and procedures that affect the rights and

duties of taxpayers are published.

Revenue rulings represent the conclusions of the Service

on the application of the law to the pivotal facts stated in

the revenue ruling. In those based on positions taken in rulings to taxpayers or technical advice to Service field offices,

identifying details and information of a confidential nature are

deleted to prevent unwarranted invasions of privacy and to

comply with statutory requirements.

Rulings and procedures reported in the Bulletin do not have the

force and effect of Treasury Department Regulations, but they

may be used as precedents. Unpublished rulings will not be

relied on, used, or cited as precedents by Service personnel in

the disposition of other cases. In applying published rulings and

procedures, the effect of subsequent legislation, regulations,

court decisions, rulings, and procedures must be considered,

and Service personnel and others concerned are cautioned

against reaching the same conclusions in other cases unless

the facts and circumstances are substantially the same.

The Bulletin is divided into four parts as follows:

Part I.—1986 Code.

This part includes rulings and decisions based on provisions

of the Internal Revenue Code of 1986.

Part II.—Treaties and Tax Legislation.

This part is divided into two subparts as follows: Subpart A,

Tax Conventions and Other Related Items, and Subpart B,

Legislation and Related Committee Reports.

Part III.—Administrative, Procedural, and Miscellaneous.

To the extent practicable, pertinent cross references to these

subjects are contained in the other Parts and Subparts. Also

included in this part are Bank Secrecy Act Administrative

Rulings. Bank Secrecy Act Administrative Rulings are issued

by the Department of the Treasury’s Office of the Assistant

Secretary (Enforcement).

Part IV.—Items of General Interest.

This part includes notices of proposed rulemakings, disbarment and suspension lists, and announcements.

The last Bulletin for each month includes a cumulative index

for the matters published during the preceding months. These

monthly indexes are cumulated on a semiannual basis, and are

published in the last Bulletin of each semiannual period.

The contents of this publication are not copyrighted and may be reprinted freely. A citation of the Internal Revenue Bulletin as the source would be appropriate.

June 10, 2024

Bulletin No. 2024–24

Part I

Section 6621.—

Determination of Rate of

Interes

26 CFR 301.6621-1: Interest rate.

Rev. Rul. 2024-11

Section 6621 of the Internal Revenue Code establishes the interest rates

on overpayments and underpayments of

tax. Under section 6621(a)(1), the overpayment rate is the sum of the federal

short-term rate plus 3 percentage points (2

percentage points in the case of a corporation), except the rate for the portion of

a corporate overpayment of tax exceeding

$10,000 for a taxable period is the sum

of the federal short-term rate plus 0.5 of

a percentage point. Under section 6621(a)

(2), the underpayment rate is the sum of

the federal short-term rate plus 3 percentage points.

Section 6621(c) provides that for purposes of interest payable under section

6601 on any large corporate underpayment, the underpayment rate under section

6621(a)(2) is determined by substituting

“5 percentage points” for “3 percentage

points.” See section 6621(c) and section

301.6621-3 of the Regulations on Procedure and Administration for the definition

of a large corporate underpayment and

for the rules for determining the applicable date. Section 6621(c) and section

301.6621-3 are generally effective for

periods after December 31, 1990.

Section 6621(b)(1) provides that the

Secretary will determine the federal short-

Bulletin No. 2024–24

term rate for the first month in each calendar quarter. Section 6621(b)(2)(A)

provides that the federal short-term rate

determined under section 6621(b)(1) for

any month applies during the first calendar quarter beginning after that month.

Section 6621(b)(3) provides that the federal short-term rate for any month is the

federal short-term rate determined during

that month by the Secretary in accordance

with section 1274(d), rounded to the nearest full percent (or, if a multiple of 1/2 of

1 percent, the rate is increased to the next

highest full percent).

Notice 88-59, 1988-1 C.B. 546,

announced that in determining the quarterly interest rates to be used for overpayments and underpayments of tax under

section 6621, the Internal Revenue Service will use the federal short-term rate

based on daily compounding because that

rate is most consistent with section 6621

which, pursuant to section 6622, is subject

to daily compounding.

The federal short-term rate determined in accordance with section

1274(d) during April 2024 is the rate

published in Revenue Ruling 2024-9,

2024-19 IRB 964, to take effect beginning May 1, 2024. The federal short-term

rate, rounded to the nearest full percent,

based on daily compounding determined

during the month of April 2024 is 5 percent. Accordingly, an overpayment rate

of 8 percent (7 percent in the case of a

corporation) and an underpayment rate

of 8 percent are established for the calendar quarter beginning July 1, 2024. The

overpayment rate for the portion of a corporate overpayment exceeding $10,000

1459

for the calendar quarter beginning July 1,

2024, is 5.5 percent. The underpayment

rate for large corporate underpayments

for the calendar quarter beginning July 1,

2024, is 10 percent. These rates apply to

amounts bearing interest during that calendar quarter.

Sections 6654(a)(1) and 6655(a)

(1) provide that the underpayment rate

established under section 6621 applies

in determining the addition to tax under

sections 6654 and 6655 for failure to pay

estimated tax for any taxable year. Thus,

the 8 percent rate also applies to estimated

tax underpayments for the third calendar

quarter beginning July 1, 2024. In addition, pursuant to section 6603(d)(4), the

rate of interest on section 6603 deposits is

5 percent for the third calendar quarter in

2024.

Interest factors for daily compound

interest for annual rates of 5.5 percent, 7

percent, 8 percent and 10 percent are published in Tables 64, 67, 69 and 73 of Rev.

Proc. 95-17, 1995-1 C.B. 618, 621, 623,

and 627.

Annual interest rates to be compounded

daily pursuant to section 6622 that apply

for prior periods are set forth in the tables

accompanying this revenue ruling.

DRAFTING INFORMATION

The principal author of this revenue

ruling is Casey R. Conrad of the Office of

the Associate Chief Counsel (Procedure

and Administration). For further information regarding this revenue ruling, contact

Mr. Conrad at (202) 317-6844 (not a tollfree call).

June 10, 2024

APPENDIX A

Days

Factor

0.000013699

0.000027397

0.000041096

0.000054796

0.000068495

0.000082195

0.000095894

0.000109594

0.000123294

0.000136995

0.000150695

0.000164396

0.000178097

0.000191798

0.000205499

0.000219201

0.000232902

0.000246604

0.000260306

0.000274008

0.000287711

365 Day Year

0.5% Compound Rate 184 Days

Days

Factor

0.000863380

0.000877091

0.000890801

0.000904512

0.000918223

0.000931934

0.000945646

0.000959357

0.000973069

0.000986781

0.001000493

0.001014206

0.001027918

0.001041631

0.001055344

0.001069057

0.001082770

0.001096484

0.001110197

0.001123911

0.001137625

0.000301413

0.000315116

0.000328819

0.000342522

0.000356225

0.000369929

0.000383633

0.000397336

0.000411041

0.000424745

0.000438449

0.000452154

0.000465859

0.000479564

0.000493269

0.000506974

0.000520680

0.000534386

0.000548092

0.000561798

100

101

102

103

June 10, 2024

0.001151339

0.001165054

0.001178768

0.001192483

0.001206198

0.001219913

0.001233629

0.001247344

0.001261060

0.001274776

0.001288492

0.001302208

0.001315925

0.001329641

0.001343358

0.001357075

0.001370792

0.001384510

0.001398227

0.001411945

1460

Days

125

126

127

128

129

130

131

132

133

134

135

136

137

138

139

140

141

142

143

144

145

Factor

0.001713784

0.001727506

0.001741228

0.001754951

0.001768673

0.001782396

0.001796119

0.001809843

0.001823566

0.001837290

0.001851013

0.001864737

0.001878462

0.001892186

0.001905910

0.001919635

0.001933360

0.001947085

0.001960811

0.001974536

0.001988262

146

147

148

149

150

151

152

153

154

155

156

157

158

159

160

161

162

163

164

165

0.002001988

0.002015714

0.002029440

0.002043166

0.002056893

0.002070620

0.002084347

0.002098074

0.002111801

0.002125529

0.002139257

0.002152985

0.002166713

0.002180441

0.002194169

0.002207898

0.002221627

0.002235356

0.002249085

0.002262815

Bulletin No. 2024–24

0.000575504

0.000589211

0.000602917

0.000616624

0.000630331

0.000644039

0.000657746

0.000671454

0.000685161

0.000698869

0.000712578

0.000726286

0.000739995

0.000753703

0.000767412

0.000781121

0.000794831

0.000808540

0.000822250

0.000835960

0.000849670

Bulletin No. 2024–24

104

105

106

107

108

109

110

111

112

113

114

115

116

117

118

119

120

121

122

123

124

0.001425663

0.001439381

0.001453100

0.001466818

0.001480537

0.001494256

0.001507975

0.001521694

0.001535414

0.001549133

0.001562853

0.001576573

0.001590293

0.001604014

0.001617734

0.001631455

0.001645176

0.001658897

0.001672619

0.001686340

0.001700062

1461

166

167

168

169

170

171

172

173

174

175

176

177

178

179

180

181

182

183

184

0.002276544

0.002290274

0.002304004

0.002317734

0.002331465

0.002345195

0.002358926

0.002372657

0.002386388

0.002400120

0.002413851

0.002427583

0.002441315

0.002455047

0.002468779

0.002482511

0.002496244

0.002509977

0.002523710

June 10, 2024

Days

June 10, 2024

Factor

0.000013661

0.000027323

0.000040984

0.000054646

0.000068308

0.000081970

0.000095632

0.000109295

0.000122958

0.000136620

0.000150283

0.000163947

0.000177610

0.000191274

0.000204938

0.000218602

0.000232266

0.000245930

0.000259595

0.000273260

0.000286924

0.000300590

0.000314255

0.000327920

0.000341586

0.000355252

0.000368918

0.000382584

0.000396251

0.000409917

0.000423584

0.000437251

0.000450918

0.000464586

0.000478253

0.000491921

0.000505589

0.000519257

0.000532925

0.000546594

0.000560262

0.000573931

366 Day Year

0.5% Compound Rate 184 Days

Days

Factor

0.000861020

0.000874693

0.000888366

0.000902040

0.000915713

0.000929387

0.000943061

0.000956735

0.000970409

0.000984084

0.000997758

0.001011433

0.001025108

0.001038783

0.001052459

0.001066134

0.001079810

0.001093486

0.001107162

0.001120839

0.001134515

0.001148192

0.001161869

0.001175546

0.001189223

0.001202900

0.001216578

0.001230256

0.001243934

0.001257612

0.001271291

0.001284969

0.001298648

0.001312327

0.001326006

0.001339685

0.001353365

100

0.001367044

101

0.001380724

102

0.001394404

103

0.001408085

104

0.001421765

1462

Days

125

126

127

128

129

130

131

132

133

134

135

136

137

138

139

140

141

142

143

144

145

146

147

148

149

150

151

152

153

154

155

156

157

158

159

160

161

162

163

164

165

166

Factor

0.001709097

0.001722782

0.001736467

0.001750152

0.001763837

0.001777522

0.001791208

0.001804893

0.001818579

0.001832265

0.001845951

0.001859638

0.001873324

0.001887011

0.001900698

0.001914385

0.001928073

0.001941760

0.001955448

0.001969136

0.001982824

0.001996512

0.002010201

0.002023889

0.002037578

0.002051267

0.002064957

0.002078646

0.002092336

0.002106025

0.002119715

0.002133405

0.002147096

0.002160786

0.002174477

0.002188168

0.002201859

0.002215550

0.002229242

0.002242933

0.002256625

0.002270317

Bulletin No. 2024–24

0.000587600

0.000601269

0.000614939

0.000628608

0.000642278

0.000655948

0.000669618

0.000683289

0.000696959

0.000710630

0.000724301

0.000737972

0.000751643

0.000765315

0.000778986

0.000792658

0.000806330

0.000820003

0.000833675

0.000847348

Bulletin No. 2024–24

105

106

107

108

109

110

111

112

113

114

115

116

117

118

119

120

121

122

123

124

0.001435446

0.001449127

0.001462808

0.001476489

0.001490170

0.001503852

0.001517533

0.001531215

0.001544897

0.001558580

0.001572262

0.001585945

0.001599628

0.001613311

0.001626994

0.001640678

0.001654361

0.001668045

0.001681729

0.001695413

1463

167

168

169

170

171

172

173

174

175

176

177

178

179

180

181

182

183

184

0.002284010

0.002297702

0.002311395

0.002325087

0.002338780

0.002352473

0.002366167

0.002379860

0.002393554

0.002407248

0.002420942

0.002434636

0.002448331

0.002462025

0.002475720

0.002489415

0.002503110

0.002516806

June 10, 2024

TABLE OF INTEREST RATES

PERIODS BEFORE JUL. 1, 1975 – PERIODS ENDING DEC. 31, 1986

OVERPAYMENTS AND UNDERPAYMENTS

PERIOD

Before Jul. 1, 1975

Jul. 1, 1975–Jan. 31, 1976

Feb. 1, 1976–Jan. 31, 1978

Feb. 1, 1978–Jan. 31, 1980

Feb. 1, 1980–Jan. 31, 1982

Feb. 1, 1982–Dec. 31, 1982

Jan. 1, 1983–Jun. 30, 1983

Jul. 1, 1983–Dec. 31, 1983

Jan. 1, 1984–Jun. 30, 1984

Jul. 1, 1984–Dec. 31, 1984

Jan. 1, 1985–Dec. 31, 1985

Jul. 1, 1985–Dec. 31, 1985

Jan. 1, 1986–Jun. 30, 1986

Jul. 1, 1986–Dec. 31, 1986

Jan. 1, 1987–Mar. 31, 1987

Apr. 1, 1987–Jun. 30, 1987

Jul. 1, 1987–Sep. 30, 1987

Oct. 1, 1987–Dec. 31, 1987

Jan. 1, 1988–Mar. 31, 1988

Apr. 1, 1988–Jun. 30, 1988

Jul. 1, 1988–Sep. 30, 1988

Oct. 1, 1988–Dec. 31, 1988

Jan. 1, 1989–Mar. 31, 1989

Apr. 1, 1989–Jun. 30, 1989

Jul. 1, 1989–Sep. 30, 1989

Oct. 1, 1989–Dec. 31, 1989

Jan. 1, 1990–Mar. 31, 1990

Apr. 1, 1990–Jun. 30, 1990

Jul. 1, 1990–Sep. 30, 1990

Oct. 1, 1990–Dec. 31, 1990

Jan. 1, 1991–Mar. 31, 1991

Apr. 1, 1991–Jun. 30, 1991

Jul. 1, 1991–Sep. 30, 1991

Oct. 1, 1991–Dec. 31, 1991

Jan. 1, 1992–Mar. 31, 1992

Apr. 1, 1992–Jun. 30, 1992

June 10, 2024

RATE

Table

12%

Table

20%

Table

16%

Table

11%

Table

11%

Table

11%

Table

13%

Table

11%

Table

10%

Table

TABLE OF INTEREST RATES

FROM JAN. 1, 1987 – Dec. 31, 1998

RATE

10%

11%

10%

OVERPAYMENTS

1995-1 C.B.

TABLE

575

577

627

625

627

579

581

579

577

623

621

1464

In 1995-1 C.B.

DAILY RATE TABLE

pg.

37,

pg.

27,

pg.

75,

pg.

75,

pg.

31,

pg.

27,

pg.

25,

pg.

23,

pg.

557

559

558

557

560

591

581

629

585

581

579

577

UNDERPAYMENTS

1995-1 C.B. RATE

RATE

TABLE

577

10%

579

11%

629

10%

627

10%

627

11%

629

11%

581

12%

583

12%

583

11%

581

11%

581

11%

581

11%

581

11%

581

11%

581

10%

579

10%

579

10%

579

625

623

Bulletin No. 2024–24

Jul. 1, 1992–Sep. 30, 1992

Oct. 1, 1992–Dec. 31, 1992

Jan. 1, 1993–Mar. 31, 1993

Apr. 1, 1993–Jun. 30, 1993

Jul. 1, 1993–Sep. 30, 1993

Oct. 1, 1993–Dec. 31, 1993

Jan. 1, 1994–Mar. 31, 1994

Apr. 1, 1994–Jun. 30, 1994

Jul. 1, 1994–Sep. 30, 1994

Oct. 1, 1994–Dec. 31, 1994

Jan. 1, 1995–Mar. 31, 1995

Apr. 1, 1995–Jun. 30, 1995

Jul. 1, 1995–Sep. 30, 1995

Oct. 1, 1995–Dec. 31, 1995

Jan. 1, 1996–Mar. 31, 1996

Apr. 1, 1996–Jun. 30, 1996

Jul. 1, 1996–Sep. 30, 1996

Oct. 1, 1996–Dec. 31, 1996

Jan. 1, 1997–Mar. 31, 1997

Apr. 1, 1997–Jun. 30, 1997

Jul. 1, 1997–Sep. 30, 1997

Oct. 1, 1997–Dec. 31, 1997

Jan. 1, 1998–Mar. 31, 1998

Apr. 1, 1998–Jun. 30, 1998

Jul. 1, 1998–Sep. 30, 1998

Oct. 1, 1998–Dec. 31, 1998

Bulletin No. 2024–24

1465

621

619

571

573

575

577

575

623

621

623

575

573

10%

623

621

573

575

577

579

577

625

623

625

577

575

June 10, 2024

TABLE OF INTEREST RATES

FROM JANUARY 1, 1999 – PRESENT

NONCORPORATE OVERPAYMENTS AND UNDERPAYMENTS

1995-1 C.B.

Jan. 1, 1999–Mar. 31, 1999

Apr. 1, 1999–Jun. 30, 1999

Jul. 1, 1999–Sep. 30, 1999

Oct. 1, 1999–Dec. 31, 1999

Jan. 1, 2000–Mar. 31, 2000

Apr. 1, 2000–Jun. 30, 2000

Jul. 1, 2000–Sep. 30, 2000

Oct. 1, 2000–Dec. 31, 2000

Jan. 1, 2001–Mar. 31, 2001

Apr. 1, 2001–Jun. 30, 2001

Jul. 1, 2001–Sep. 30, 2001

Oct. 1, 2001–Dec. 31, 2001

Jan. 1, 2002–Mar. 31, 2002

Apr. 1, 2002–Jun. 30, 2002

Jul. 1, 2002–Sep. 30, 2002

Oct. 1, 2002–Dec. 31, 2002

Jan. 1, 2003–Mar. 31, 2003

Apr. 1, 2003–Jun. 30, 2003

Jul. 1, 2003–Sep. 30, 2003

Oct. 1, 2003–Dec. 31, 2003

Jan. 1, 2004–Mar. 31, 2004

Apr. 1, 2004–Jun. 30, 2004

Jul. 1, 2004–Sep. 30, 2004

Oct. 1, 2004–Dec. 31, 2004

Jan. 1, 2005–Mar. 31, 2005

Apr. 1, 2005–Jun. 30, 2005

Jul. 1, 2005–Sep. 30, 2005

Oct. 1, 2005–Dec. 31, 2005

Jan. 1, 2006–Mar. 31, 2006

Apr. 1, 2006–Jun. 30, 2006

Jul. 1, 2006–Sep. 30, 2006

Oct. 1, 2006–Dec. 31, 2006

Jan. 1, 2007–Mar. 31, 2007

Apr. 1, 2007–Jun. 30, 2007

Jul. 1, 2007–Sep. 30, 2007

Oct. 1, 2007–Dec. 31, 2007

Jan. 1, 2008–Mar. 31, 2008

Apr. 1, 2008–Jun. 30, 2008

Jul. 1, 2008–Sep. 30, 2008

Oct. 1, 2008–Dec. 31, 2008

Jan. 1, 2009–Mar. 31, 2009

RATE

June 10, 2024

1466

TABLE

PAGE

573

575

623

625

577

575

573

571

569

567

615

617

615

617

569

571

573

575

621

619

617

619

569

Bulletin No. 2024–24

Apr. 1, 2009–Jun. 30, 2009

Jul. 1, 2009–Sep. 30, 2009

Oct. 1, 2009–Dec. 31, 2009

Jan. 1, 2010–Mar. 31, 2010

Apr. 1, 2010–Jun. 30, 2010

Jul. 1, 2010–Sep. 30, 2010

Oct. 1, 2010–Dec. 31, 2010

Jan. 1, 2011–Mar. 31, 2011

Apr. 1, 2011–Jun. 30, 2011

Jul. 1, 2011–Sep. 30, 2011

Oct. 1, 2011–Dec. 31, 2011

Jan. 1, 2012–Mar. 31, 2012

Apr. 1, 2012–Jun. 30, 2012

Jul. 1, 2012–Sep. 30, 2012

Oct. 1, 2012–Dec. 31, 2012

Jan. 1, 2013–Mar. 31, 2013

Apr. 1, 2013–Jun. 30, 2013

Jul. 1, 2013–Sep. 30, 2013

Oct. 1, 2013–Dec. 31, 2013

Jan. 1, 2014–Mar. 31, 2014

Apr. 1, 2014–Jun. 30, 2014

Jul. 1, 2014–Sep. 30, 2014

Oct. 1, 2014–Dec. 31, 2014

Jan. 1, 2015–Mar. 31, 2015

Apr. 1, 2015–Jun. 30, 2015

Jul. 1, 2015–Sep. 30, 2015

Oct. 1, 2015–Dec. 31, 2015

Jan. 1, 2016–Mar. 31, 2016

Apr. 1, 2016–Jun. 30, 2016

Jul. 1, 2016–Sep. 30, 2016

Oct. 1, 2016–Dec. 31, 2016

Jan. 1, 2017–Mar. 31, 2017

Apr. 1, 2017–Jun. 30, 2017

Jul. 1, 2017–Sep. 30, 2017

Oct. 1, 2017–Dec. 31, 2017

Jan. 1, 2018–Mar. 31, 2018

Apr. 1, 2018–Jun. 30, 2018

Jul. 1, 2018–Sep. 30, 2018

Oct. 1, 2018–Dec. 31, 2018

Jan. 1, 2019–Mar. 31, 2019

Apr. 1, 2019–Jun. 30, 2019

Jul. 1, 2019–Sep. 30, 2019

Oct. 1, 2019–Dec. 31, 2019

Jan. 1, 2020–Mar. 31, 2020

Apr. 1, 2020–Jun. 30, 2020

Bulletin No. 2024–24

1467

567

565

567

565

613

565

613

615

567

569

571

569

617

June 10, 2024

Jul. 1, 2020–Sep. 30, 2020

Oct. 1, 2020–Dec. 31, 2020

Jan. 1, 2021–Mar. 31, 2021

Apr. 1, 2021–Jun. 30, 2021

Jul. 1, 2021–Sep. 30, 2021

Oct. 1, 2021–Dec. 31, 2021

Jan. 1, 2022–Mar. 31, 2022

Apr. 1, 2022–Jun. 30, 2022

Jul. 1, 2022–Sep. 30, 2022

Oct. 1, 2022–Dec. 31, 2022

Jan. 1, 2023–Mar. 31, 2023

Apr. 1, 2023–Jun. 30, 2023

Jul. 1, 2023–Sep. 30, 2023

Oct. 1, 2023–Dec. 31, 2023

Jan. 1, 2024–Mar. 31, 2024

Apr. 1, 2024–Jun. 30, 2024

Jul. 1, 2024–Sep. 30, 2024

June 10, 2024

1468

613

565

567

569

571

573

575

623

Bulletin No. 2024–24

TABLE OF INTEREST RATES

FROM JANUARY 1, 1999 – PRESENT

CORPORATE OVERPAYMENTS AND UNDERPAYMENTS

Jan. 1, 1999–Mar. 31, 1999

Apr. 1, 1999–Jun. 30, 1999

Jul. 1, 1999–Sep. 30, 1999

Oct. 1, 1999–Dec. 31, 1999

Jan. 1, 2000–Mar. 30, 2000

Apr. 1, 2000–Jun. 30, 2000

Jul. 1, 2000–Sep. 30, 2000

Oct. 1, 2000–Dec. 31, 2000

Jan. 1, 2001–Mar. 31, 2001

Apr. 1, 2001–Jun. 30, 2001

Jul. 1, 2001–Sep. 30, 2001

Oct. 1, 2001–Dec. 31, 2001

Jan. 1, 2002–Mar. 31, 2002

Apr. 1, 2002–Jun. 30, 2002

Jul. 1, 2002–Sep. 30, 2002

Oct. 1, 2002–Dec. 31, 2002

Jan. 1, 2003–Mar. 31, 2003

Apr. 1, 2003–Jun. 30, 2003

Jul. 1, 2003–Sep. 30, 2003

Oct. 1, 2003–Dec. 31, 2003

Jan. 1, 2004–Mar. 31, 2004

Apr. 1, 2004–Jun. 30, 2004

Jul. 1, 2004–Sep. 30, 2004

Oct. 1, 2004–Dec. 31, 2004

Jan. 1, 2005–Mar. 31, 2005

Apr. 1, 2005–Jun. 30, 2005

Jul. 1, 2005–Sep. 30, 2005

Oct. 1, 2005–Dec. 31, 2005

Jan. 1, 2006–Mar. 31, 2006

Apr. 1, 2006–Jun. 30, 2006

Jul. 1, 2006–Sep. 30, 2006

Oct. 1, 2006–Dec. 31, 2006

Jan. 1, 2007–Mar. 31, 2007

Apr. 1, 2007–Jun. 30, 2007

Jul. 1, 2007–Sep. 30, 2007

Oct. 1, 2007–Dec. 31, 2007

Jan. 1, 2008–Mar. 31, 2008

Apr. 1, 2008–Jun. 30, 2008

Jul. 1, 2008–Sep. 30, 2008

Oct. 1, 2008–Dec. 31, 2008

Bulletin No. 2024–24

OVERPAYMENTS

1995-1 C.B.

RATE

TABLE

1469

571

573

621

623

575

573

571

569

567

565

613

615

613

615

567

569

571

573

619

617

615

617

UNDERPAYMENTS

1995-1 C.B.

RATE

TABLE

573

575

623

625

577

575

573

571

569

567

615

617

615

617

569

571

573

575

621

619

617

619

June 10, 2024

Jan. 1, 2009–Mar. 31, 2009

Apr. 1, 2009–Jun. 30, 2009

Jul. 1, 2009–Sep. 30, 2009

Oct. 1, 2009–Dec. 31, 2009

Jan. 1, 2010–Mar. 31, 2010

Apr. 1, 2010–Jun. 30, 2010

Jul. 1, 2010–Sep. 30, 2010

Oct. 1, 2010–Dec. 31, 2010

Jan. 1, 2011–Mar. 31, 2011

Apr. 1, 2011–Jun. 30, 2011

Jul. 1, 2011–Sep. 30, 2011

Oct. 1, 2011–Dec. 31, 2011

Jan. 1, 2012–Mar. 31, 2012

Apr. 1, 2012–Jun. 30, 2012

Jul. 1, 2012–Sep. 30, 2012

Oct. 1, 2012–Dec. 31, 2012

Jan. 1, 2013–Mar. 31, 2013

Apr. 1, 2013–Jun. 30, 2013

Jul. 1, 2013–Sep. 30, 2013

Oct. 1, 2013–Dec. 31, 2013

Jan. 1, 2014–Mar. 31, 2014

Apr. 1, 2014–Jun. 30, 2014

Jul. 1, 2014–Sep. 30, 2014

Oct. 1, 2014–Dec. 31, 2014

Jan. 1, 2015–Mar. 31, 2015

Apr. 1, 2015–Jun. 30, 2015

Jul. 1, 2015–Sep. 30, 2015

Oct. 1, 2015–Dec. 31, 2015

Jan. 1, 2016–Mar. 31, 2016

Apr. 1, 2016–Jun. 30, 2016

Jul. 1, 2016–Sep. 30, 2016

Oct. 1, 2016–Dec. 31, 2016

Jan. 1, 2017–Mar. 31, 2017

Apr. 1, 2017–Jun. 30, 2017

Jul. 1, 2017–Sep. 30, 2017

Oct. 1, 2017–Dec. 31, 2017

Jan. 1, 2018–Mar. 31, 2018

Apr. 1, 2018–Jun. 30, 2018

Jul. 1, 2018–Sep. 30, 2018

Oct. 1, 2018–Dec. 31, 2018

Jan. 1, 2019–Mar. 31, 2019

Apr. 1, 2019–Jun. 30, 2019

Jul. 1, 2019–Sep. 30, 2019

Oct. 1, 2019–Dec. 31, 2019

Jan. 1, 2020–Mar. 31, 2020

June 10, 2024

1470

567

565

563

565

563

611

563

611

613

565

567

569

567

615

569

567

565

567

565

613

565

613

615

567

569

571

569

617

Bulletin No. 2024–24

Apr. 1, 2020–Jun. 30, 2020

Jul. 1, 2020–Sep. 30, 2020

Oct. 1, 2020–Dec. 31, 2020

Jan. 1, 2021–Mar. 31, 2021

Apr. 1, 2021–Jun. 30, 2021

Jul. 1, 2021–Sep. 30, 2021

Oct. 1, 2021–Dec. 31, 2021

Jan. 1, 2022–Mar. 31, 2022

Apr. 1, 2022–Jun. 30, 2022

Jul. 1, 2022–Sep. 30, 2022

Oct. 1, 2022–Dec. 31, 2022

Jan. 1, 2023–Mar. 31, 2023

Apr. 1, 2023–Jun. 30, 2023

Jul. 1, 2023–Sep. 30, 2023

Oct. 1, 2023–Dec. 31, 2023

Jan. 1, 2024–Mar. 31, 2024

Apr. 1, 2024–Jun. 30, 2024

Jul. 1, 2024–Sep. 30, 2024

Bulletin No. 2024–24

1471

615

611

563

565

567

569

571

573

621

617

613

565

567

569

571

573

575

623

June 10, 2024

TABLE OF INTEREST RATES

FOR LARGE CORPORATE UNDERPAYMENTS

FROM JANUARY 1, 1991 – PRESENT

Jan. 1, 1991–Mar. 31, 1991

Apr. 1, 1991–Jun. 30, 1991

Jul. 1, 1991–Sep. 30, 1991

Oct. 1, 1991–Dec. 31, 1991

Jan. 1, 1992–Mar. 31, 1992

Apr. 1, 1992–Jun. 30, 1992

Jul. 1, 1992–Sep. 30, 1992

Oct. 1, 1992–Dec. 31, 1992

Jan. 1, 1993–Mar. 31, 1993

Apr. 1, 1993–Jun. 30, 1993

Jul. 1, 1993–Sep. 30, 1993

Oct. 1, 1993–Dec. 31, 1993

Jan. 1, 1994–Mar. 31, 1994

Apr. 1, 1994–Jun. 30, 1994

Jul. 1, 1994–Sep. 30, 1994

Oct. 1, 1994–Dec. 31, 1994

Jan. 1, 1995–Jun. 30, 1995

Apr. 1, 1995–Jun. 30, 1995

Jul. 1, 1995–Sep. 30, 1995

Oct. 1, 1995–Dec. 31, 1995

Jan. 1, 1996–Mar. 31, 1996

Apr. 1, 1996–Jun. 30, 1996

Jul. 1, 1996–Sep. 30, 1996

Oct. 1, 1996–Dec. 31, 1996

Jan. 1, 1997–Mar. 31, 1997

Apr. 1, 1997–Jun. 30, 1997

Jul. 1, 1997–Sep. 30, 1997

Oct. 1, 1997–Dec. 31, 1997

Jan. 1, 1998–Mar. 31, 1998

Apr. 1, 1998–Jun. 30, 1998

Jul. 1, 1998–Sep. 30, 1998

Oct. 1, 1998–Dec. 31, 1998

Jan. 1, 1999–Mar. 31, 1999

Apr. 1, 1999–Jun. 30, 1999

Jul. 1, 1999–Sep. 30, 1999

Oct. 1, 1999–Dec. 31, 1999

Jan. 1, 2000–Mar. 31, 2000

Apr. 1, 2000–Jun. 30, 2000

Jul. 1, 2000–Sep. 30, 2000

Oct. 1, 2000–Dec. 31, 2000

Jan. 1, 2001–Mar. 31, 2001

RATE

13%

12%

11%

10%

11%

12%

11%

10%

11%

10%

11%

June 10, 2024

1472

1995-1 C.B.

TABLE

585

583

629

627

625

577

579

581

583

581

629

627

629

581

579

577

579

627

629

581

Bulletin No. 2024–24

Apr. 1, 2001–Jun. 30, 2001

Jul. 1, 2001–Sep. 30, 2001

Oct. 1, 2001–Dec. 31, 2001

Jan. 1, 2002–Mar. 31, 2002

Apr. 1, 2002–Sep. 30, 2002

Jul. 1, 2002–Sep. 30, 2002

Oct. 1, 2002–Dec. 31, 2002

Jan. 1, 2003–Mar. 31, 2003

Apr. 1, 2003–Jun. 30, 2003

Jul. 1, 2003–Sep. 30, 2003

Oct. 1, 2003–Dec. 31, 2003

Jan. 1, 2004–Mar. 31, 2004

Apr. 1, 2004–Jun. 30, 2004

Jul. 1, 2004–Sep. 30, 2004

Oct. 1, 2004–Dec. 31, 2004

Jan. 1, 2005–Mar. 31, 2005

Apr. 1, 2005–Jun. 30, 2005

Jul. 1, 2005–Sep. 30, 2005

Oct. 1, 2005–Dec. 31, 2005

Jan. 1, 2006–Mar. 31, 2006

Apr. 1, 2006–Jun. 30, 2006

Jul. 1, 2006–Sep. 30, 2006

Oct. 1, 2006–Dec. 31, 2006

Jan. 1, 2007–Mar. 31, 2007

Apr. 1, 2007–Jun. 30, 2007

Jul. 1, 2007–Sep. 30, 2007

Oct. 1, 2007–Dec. 31, 2007

Jan. 1, 2008–Mar. 31, 2008

Apr. 1, 2008–Sep. 30, 2008

Jul. 1, 2008–Sep. 30, 2008

Oct. 1, 2008–Dec. 31, 2008

Jan. 1, 2009–Mar. 31, 2009

Apr. 1, 2009–Jun. 30, 2009

Jul. 1, 2009–Sep. 30, 2009

Oct. 1, 2009–Dec. 31, 2009

Jan. 1, 2010–Mar. 31, 2010

Apr. 1, 2010–Jun. 30, 2010

Jul. 1, 2010–Sep. 30, 2010

Oct. 1, 2010–Dec. 31, 2010

Jan. 1, 2011–Mar. 31, 2011

Apr. 1, 2011–Jun. 30, 2011

Jul. 1, 2011–Sep. 30, 2011

Oct. 1, 2011–Dec. 31, 2011

Jan. 1, 2012–Mar. 31, 2012

Apr. 1, 2012–Jun. 30, 2012

10%

Bulletin No. 2024–24

1473

579

577

575

573

571

619

621

619

621

573

575

577

579

625

623

621

623

573

571

569

571

569

617

June 10, 2024

Jul. 1, 2012–Sep. 30, 2012

Oct. 1, 2012–Dec. 31, 2012

Jan. 1, 2013–Mar. 31, 2013

Apr. 1, 2013–Jun. 30, 2013

Jul. 1, 2013–Sep. 30, 2013

Oct. 1, 2013–Dec. 31, 2013

Jan. 1, 2014–Mar. 31, 2014

Apr. 1, 2014–Jun. 30, 2014

Jul. 1, 2014–Sep. 30, 2014

Oct. 1, 2014–Dec. 31, 2014

Jan. 1, 2015–Mar. 31, 2015

Apr. 1, 2015–Jun. 30, 2015

Jul. 1, 2015–Sep. 30, 2015

Oct. 1, 2015–Dec. 31, 2015

Jan. 1, 2016–Mar. 31, 2016

Apr. 1, 2016–Jun. 30, 2016

Jul. 1, 2016–Sep. 30, 2016

Oct. 1, 2016–Dec. 31, 2016

Jan. 1, 2017–Mar. 31, 2017

Apr. 1, 2017–Jun. 30, 2017

Jul. 1, 2017–Sep. 30, 2017

Oct. 1, 2017–Dec. 31, 2017

Jan. 1, 2018–Mar. 31, 2018

Apr. 1, 2018–Jun. 30, 2018

Jul. 1, 2018–Sep. 30, 2018

Oct. 1, 2018–Dec. 31, 2018

Jan. 1, 2019–Mar. 31, 2019

Apr. 1, 2019–Jun. 30, 2019

Jul. 1, 2019–Sep. 30, 2019

Oct. 1, 2019–Dec. 31, 2019

Jan. 1, 2020–Mar. 31, 2020

Apr. 1, 2020–Jun. 30, 2020

Jul. 1, 2020–Sep. 30, 2020

Oct. 1, 2020–Dec. 31, 2020

Jan. 1, 2021–Mar. 31, 2021

Apr. 1, 2021–Jun. 30, 2021

Jul. 1, 2021–Sep. 30, 2021

Oct. 1, 2021–Dec. 31, 2021

Jan. 1, 2022–Mar. 31, 2022

Apr. 1, 2022–Jun. 30, 2022

Jul. 1, 2022–Sep. 30, 2022

Oct. 1, 2022–Dec. 31, 2022

Jan. 1, 2023–Mar. 31, 2023

Apr. 1, 2023–Jun. 30, 2023

Jul. 1, 2023–Sep. 30, 2023

June 10, 2024

1474

617

569

617

619

571

573

575

573

621

617

569

571

573

575

577

Bulletin No. 2024–24

Oct. 1, 2023–Dec. 31, 2023

Jan. 1, 2024–Mar. 31, 2024

Apr. 1, 2024–Jun. 30, 2024

Jul. 1, 2024–Sep. 30, 2024

10%

Bulletin No. 2024–24

1475

579

627

June 10, 2024

TABLE OF INTEREST RATES FOR CORPORATE

OVERPAYMENTS EXCEEDING $10,000

FROM JANUARY 1, 1995 – PRESENT

1995-1 C.B.

RATE

TABLE

Jan. 1, 1995–Mar. 31, 1995

6.5%

572

Apr. 1, 1995–Jun. 30, 1995

7.5%

574

Jul. 1, 1995–Sep. 30, 1995

6.5%

572

Oct. 1, 1995–Dec. 31, 1995

6.5%

572

Jan. 1, 1996–Mar. 31, 1996

6.5%

620

Apr. 1, 1996–Jun. 30, 1996

5.5%

618

Jul. 1, 1996–Sep. 30, 1996

6.5%

620

Oct. 1, 1996–Dec. 31, 1996

6.5%

620

Jan. 1, 1997–Mar. 31, 1997

6.5%

572

Apr. 1, 1997–Jun. 30, 1997

6.5%

572

Jul. 1, 1997–Sep. 30, 1997

6.5%

572

Oct. 1, 1997–Dec. 31, 1997

6.5%

572

Jan. 1, 1998–Mar. 31, 1998

6.5%

572

Apr. 1, 1998–Jun. 30, 1998

5.5%

570

Jul. 1, 1998–Sep. 30, 1998

5.5%

570

Oct. 1, 1998–Dec. 31, 1998

5.5%

570

Jan. 1, 1999–Mar. 31, 1999

4.5%

568

Apr. 1, 1999–Sep. 30, 1999

5.5%

570

Jul. 1, 1999–Sep. 30, 1999

5.5%

570

Oct. 1, 1999–Dec. 31, 1999

5.5%

570

Jan. 1, 2000–Mar. 31, 2000

5.5%

618

Apr. 1, 2000–Jun. 30, 2000

6.5%

620

Jul. 1, 2000–Sep. 30, 2000

6.5%

620

Oct. 1, 2000–Dec. 31, 2000

6.5%

620

Jan. 1, 2001–Mar. 31, 2001

6.5%

572

Apr. 1, 2001–Jun. 30, 2001

5.5%

570

Jul. 1, 2001–Sep. 30, 2001

4.5%

568

Oct. 1, 2001–Dec. 31, 2001

4.5%

568

Jan. 1, 2002–Mar. 31, 2002

3.5%

566

Apr. 1, 2002–Jun. 30, 2002

3.5%

566

Jul. 1, 2002–Sep. 30, 2002

3.5%

566

Oct. 1, 2002–Dec. 31, 2002

3.5%

566

Jan. 1, 2003–Mar. 31, 2003

2.5%

564

Apr. 1, 2003–Jun. 30, 2003

2.5%

564

Jul. 1, 2003–Sep. 30, 2003

2.5%

564

Oct. 1, 2003–Dec. 31, 2003

1.5%

562

Jan. 1, 2004–Mar. 31, 2004

1.5%

610

Apr. 1, 2004–Jun. 30, 2004

2.5%

612

June 10, 2024

1476

Bulletin No. 2024–24

Jul. 1, 2004–Sep. 30, 2004

1.5%

610

Oct. 1, 2004–Dec. 31, 2004

2.5%

612

Jan. 1, 2005–Mar. 31, 2005

2.5%

564

Apr. 1, 2005–Jun. 30, 2005

3.5%

566

Jul. 1, 2005–Sep. 30, 2005

3.5%

566

Oct. 1, 2005–Dec. 31, 2005

4.5%

568

Jan. 1, 2006–Mar. 31, 2006

4.5%

568

Apr. 1, 2006–Jun. 30, 2006

4.5%

568

Jul. 1, 2006–Sep. 30, 2006

5.5%

570

Oct. 1, 2006–Dec. 31, 2006

5.5%

570

Jan. 1, 2007–Mar. 31, 2007

5.5%

570

Apr. 1, 2007–Jun. 30, 2007

5.5%

570

Jul. 1, 2007–Sep. 30, 2007

5.5%

570

Oct. 1, 2007–Dec. 31, 2007

5.5%

570

Jan. 1, 2008–Mar. 31, 2008

4.5%

616

Apr. 1, 2008–Jun. 30, 2008

3.5%

614

Jul. 1, 2008–Sep. 30, 2008

2.5%

612

Oct. 1, 2008–Dec. 31, 2008

3.5%

614

Jan. 1, 2009–Mar. 31, 2009

2.5%

564

Apr. 1, 2009–Jun. 30, 2009

1.5%

562

Jul. 1, 2009–Sep. 30, 2009

1.5%

562

Oct. 1, 2009–Dec. 31, 2009

1.5%

562

Jan. 1, 2010–Mar. 31, 2010

1.5%

562

Apr. 1, 2010–Jun. 30, 2010

1.5%

562

Jul. 1, 2010–Sep. 30, 2010

1.5%

562

Oct. 1, 2010–Dec. 31, 2010

1.5%

562

Jan. 1, 2011–Mar. 31, 2011

0.5%*

Apr. 1, 2011–Jun. 30, 2011

1.5%

562

Jul. 1, 2011–Sep. 30, 2011

1.5%

562

Oct. 1, 2011–Dec. 31, 2011

0.5%*

Jan. 1, 2012–Mar. 31, 2012

0.5%*

Apr. 1, 2012–Jun. 30, 2012

0.5%*

Jul. 1, 2012–Sep. 30, 2012

0.5%*

Oct. 1, 2012–Dec. 31, 2012

0.5%*

Jan. 1, 2013–Mar. 31, 2013

0.5%*

Apr. 1, 2013–Jun. 30, 2013

0.5%*

Jul. 1, 2013–Sep. 30, 2013

0.5%*

Oct. 1, 2013–Dec. 31, 2013

0.5%*

Jan. 1, 2014–Mar. 31, 2014

0.5%*

Apr. 1, 2014–Jun. 30, 2014

0.5%*

Jul. 1, 2014–Sep. 30, 2014

0.5%*

Oct. 1, 2014–Dec. 31, 2014

0.5%*

Bulletin No. 2024–24

1477

June 10, 2024

Jan. 1, 2015–Mar. 31, 2015

0.5%*

Apr. 1, 2015–Jun. 30, 2015

0.5%*

Jul. 1, 2015–Sep. 30, 2015

0.5%*

Oct. 1, 2015–Dec. 31, 2015

0.5%*

Jan. 1, 2016–Mar. 31, 2016

0.5%*

Apr. 1, 2016–Jun. 30, 2016

1.5%

610

Jul. 1, 2016–Sep. 30, 2016

1.5%

610

Oct. 1, 2016–Dec. 31, 2016

1.5%

610

Jan. 1, 2017–Mar. 31, 2017

1.5%

562

Apr. 1, 2017–Jun. 30, 2017

1.5%

562

Jul. 1, 2017–Sep. 30, 2017

1.5%

562

Oct. 1, 2017–Dec. 31, 2017

1.5%

562

Jan. 1, 2018–Mar. 31, 2018

1.5%

562

Apr. 1, 2018–Jun. 30, 2018

2.5%

564

Jul. 1, 2018–Sep. 30, 2018

2.5%

564

Oct. 1, 2018–Dec. 31, 2018

2.5%

564

Jan. 1, 2019–Mar. 31, 2019

3.5%

566

Apr. 1, 2019–Jun. 30, 2019

3.5%

566

Jul. 1, 2019–Sep. 30, 2019

2.5%

564

Oct. 1, 2019–Dec. 31, 2019

2.5%

564

Jan. 1, 2020–Mar. 31, 2020

2.5%

612

Apr. 1, 2020–Jun. 30, 2020

2.5%

612

Jul. 1, 2020–Sep. 30, 2020

0.5%*

Oct. 1, 2020–Dec. 31, 2020

0.5%*

Jan. 1, 2021–Mar. 31, 2021

0.5%*

Apr. 1, 2021–Jun. 30, 2021

0.5%*

Jul. 1, 2021–Sep. 30, 2021

0.5%*

Oct. 1, 2021–Dec. 31, 2021

0.5%*

Jan. 1, 2022–Mar. 31, 2022

0.5%*

Apr. 1, 2022–Jun. 30, 2022

1.5%

562

Jul. 1, 2022–Sep. 30, 2022

2.5%

564

Oct. 1, 2022–Dec. 31, 2022

3.5%

566

Jan. 1, 2023–Mar. 31, 2023

4.5%

568

Apr. 1, 2023–Jun. 30, 2023

4.5%

568

Jul. 1, 2023–Sep. 30, 2023

4.5%

568

Oct. 1, 2023–Dec. 31, 2023

5.5%

570

Jan. 1, 2024–Mar. 31, 2024

5.5%

618

Apr. 1, 2024–Jun. 30, 2024

5.5%

618

Jul. 1, 2024–Sep. 30, 2024

5.5%

618

* The asterisk reflects the interest factors for daily compound interest for annual rates of 0.5 percent published in Appendix A of

this Revenue Ruling.

June 10, 2024

1478

Bulletin No. 2024–24

Part III

Guidance Regarding the

2024 Allocation Round

of Qualifying Advanced

Energy Project Credit

Program under Section

48C(e)

Notice 2024-36

SECTION 1. PURPOSE

.01 This notice provides additional

guidance to clarify and amplify the procedures for the allocation of credits under

§ 48C of the Internal Revenue Code

(Code)1 (§ 48C credits) pursuant to the

qualifying advanced energy project credit

program under § 48C(e) (§ 48C(e) program) and announces the 2024 allocation

round of the § 48C(e) program (Round 2).

Notices 2023-18, 2023-10 I.R.B. 508, and

2023-44, 2023-25 I.R.B. 924, established

the § 48C(e) program to allocate $10 billion of § 48C credits ($4 billion of which

may be allocated only to projects located

in § 48C(e) Energy Communities Census

Tracts2) for qualified investments in eligible qualifying advanced energy projects and provided guidance for the first

allocation round of the § 48C(e) program

(Round 1). Except as specifically provided in this notice, Round 2 will be conducted in the same manner and under the

same procedures as provided under Notice

2023-18 and Notice 2023-44.3

.02 For purposes of Round 2, Appendices A, B, and C of this notice supersede

Appendices A, B, and C of Notice 202344.

.03 As stated in section 1.03 of Notice

2023-18, the Department of the Treasury

(Treasury Department) and the Internal

Revenue Service (IRS) anticipate providing at least two allocation rounds under

the § 48C(e) program. During Round 1,

the Treasury Department and IRS allocated approximately $4 billion of § 48C

credits, with approximately $1.5 billion in

§ 48C credits allocated to projects located

in § 48C(e) Energy Communities Census Tracts (as defined in section 5.06 of

Notice 2023-18). For Round 2, the Treasury Department and the IRS anticipate

allocating approximately $6 billion of

§ 48C credits, with approximately $2.5

billion in § 48C credits to be allocated

to projects located in § 48C(e) Energy

Communities Census Tracts. Although the

Treasury Department and the IRS intend

to allocate a total of $10 billion of § 48C

credits over the duration of the § 48C(e)

program, with not less than $4 billion of

§ 48C credits allocated to projects located

in § 48C(e) Energy Communities Census Tracts, depending upon applications

received, the Treasury Department and

the IRS may not allocate in Round 2 all

of the approximately $2.5 billion of § 48C

credits that must be allocated to § 48C(e)

Energy Communities Census Tracts. The

Treasury Department and the IRS will

evaluate if any § 48C credits remain unallocated at the close of Round 2 and determine if another allocation round is needed.

.04 To be considered for an allocation

of § 48C credits in Round 2, taxpayers

must first submit concept papers to the

IRS through the Qualified Advanced

Energy Project Credit Program Applicant

Portal (48C Portal), accessible at https://

eco.energy.gov/48C/, maintained by the

Department of Energy (DOE). Following

submission of a concept paper, DOE will

provide a letter encouraging or discouraging the taxpayer’s submission of a joint

application for DOE recommendation and

for IRS § 48C(e) certification (§ 48C(e)

application). DOE begins the acceptance

period for a taxpayer’s § 48C(e) application on the date of the letter of encouragement or discouragement. To be considered

for the § 48C(e) program, a taxpayer’s

§ 48C(e) application must be submitted

no later than 50 calendar days after DOE

begins the acceptance period for the taxpayer’s § 48C(e) application. The IRS will

make all Round 2 allocation decisions no

later than January 15, 2025.

SECTION 2. BACKGROUND

.01 For purposes of the § 38 general

business credit, § 46 provides that the

amount of the investment credit for any

taxable year is the sum of the credits

listed in § 46. That list includes the § 48C

credit, which was originally enacted by

§ 1302(b) of the American Recovery and

Reinvestment Act of 2009, Public Law

111-5, Division B, Title I, Subtitle D,

123 Stat. 115, 345 (February 17, 2009),

to provide an allocated credit for qualified investments in qualifying advanced

energy projects.

.02 In addition to certain amendments

made by the Tax Increase Prevention Act

of 2014, Public Law 113-295, 128 Stat.

4010 (December 19, 2014), § 48C was

amended most recently by § 13501 of Public Law 117-169, 136 Stat. 1818 (August

16, 2022), commonly known as the Inflation Reduction Act of 2022 (IRA). Section 13501(a) of the IRA added § 48C(e)

to the Code to extend the § 48C credit and

to provide an additional credit allocation

of $10 billion. Section 13501(b) of the

IRA modified the definition of a “qualifying advanced energy project” contained

in § 48C(c)(1)(A). Section 13501(c) and

(d) of the IRA made conforming amendments to § 48C(c)(2)(A) and (f). The

amendments made by § 13501 of the IRA

became effective on January 1, 2023. See

§ 13501(e) of the IRA.

.03 Notice 2023-18 established the

§ 48C(e) program and provided initial program guidance. Section 3 of Notice 202318 provided certain definitions for purposes of the § 48C(e) program, section 4 of

Notice 2023-18 described how the prevailing wage and apprenticeship requirements

under § 48C(e)(5) and (6) impact the rate of

§ 48C credits allocated under the § 48C(e)

program, section 5 of Notice 2023-18 provided a general description of the § 48C(e)

program, and section 6 of Notice 2023-18

provided initial information regarding the

procedures for concept papers and § 48C(e)

applications.

Unless otherwise specified, all “section” or “§” references are to sections of the Code.

The term “§ 48C(e) Energy Communities Census Tracts” is defined in section 5.06 of Notice 2023-18 and such tracts are listed in Appendix C of this notice.

Prior Notices and other relevant information about the § 48C(e) program can be found at https://www.irs.gov/credits-deductions/businesses/advanced-energy-project-credit.

Bulletin No. 2024–24

1479

June 10, 2024

.04 Section 5 of Notice 2023-18 states

that the IRS will consider a project under

the § 48C(e) program only if DOE provides a recommendation and ranking to

the IRS. As stated in section 5 of Notice

2023-18, DOE will provide a recommendation only if it determines that the

project has a reasonable expectation of

commercial viability and merits a recommendation based on the criteria provided

in additional § 48C(e) program guidance

later provided in Notice 2023-44.

.05 Section 4 of Notice 2023-44 states

that eligible property that is part of a § 48C

eligible project placed in service prior

to being awarded an allocation of § 48C

credits under the § 48(C)(e) program is

not eligible to receive such an allocation.

SECTION 3. ROUND 2 OF SECTION

48C(e) PROGRAM

.01 In General. For each project for

which a taxpayer seeks an allocation of

§ 48C credits in Round 2, the taxpayer

must use the 48C Portal to submit to the

IRS (1) a concept paper for DOE consideration and (2) a joint application for DOE

recommendation and for IRS § 48C(e)

certification (§ 48C(e) application). If a

§ 48C(e) application does not (1) propose

a qualifying advanced energy project (as

described in Appendix A) or (2) include

all of the information required in Appendix B, DOE may decline to consider the

§ 48C(e) application or request that the

applicant resubmit its § 48C(e) application with the missing information. If DOE

does not provide a recommendation to the

IRS on the § 48C(e) application, the IRS

will not consider the § 48C(e) application.

Failure to receive an allocation in Round

1 does not preclude an applicant from

applying in Round 2.

.02 Taxpayer submissions. Taxpayers must submit their concept papers and

§ 48C(e) applications through the 48C

Portal. See Appendix B for additional

information regarding the application process.

.03 Program Timeline. Generally,

Round 2 will proceed as follows:

(1) A taxpayer submits a concept paper

through the 48C Portal. The 48C Portal

will open to accept concept paper submissions no later than Tuesday, May 28, 2024.

Taxpayers must submit concept papers

June 10, 2024

prior to 5:00 PM Eastern Time, within 30

calendar days after the 48C Portal opens.

(2) DOE reviews the concept paper and

sends the taxpayer a letter encouraging or

discouraging the submission of a § 48C(e)

application. After receiving a letter of

encouragement or discouragement from

DOE, the taxpayer determines whether

to submit a § 48C(e) application. Any

taxpayer who submits a concept paper

through the 48C Portal is eligible to submit a § 48C(e) application, regardless of

DOE’s response to the taxpayer’s concept

paper.

(3) Taxpayers submit § 48C(e) applications through the 48C Portal. See Appendix B for additional information.

(4) DOE reviews each § 48C(e) application for compliance with eligibility and

other threshold requirements.

(5) If the § 48C(e) application complies

with all eligibility and threshold requirements, DOE conducts a technical review

of the application based on the technical

review criteria described in Appendix B.

(6) DOE provides a recommendation

to the IRS regarding the acceptance or

rejection of each § 48C(e) application and

a ranking of all § 48C(e) applications.

(7) The IRS makes a decision regarding the acceptance or rejection of each

§ 48C(e) application based on DOE’s

recommendation and ranking. The IRS

notifies each taxpayer who submitted a

§ 48C(e) application of the outcome by

sending a letter allocating § 48C credits in

the case of an acceptance (Allocation Letter) or a letter denying the requested allocation in the case of a rejection (Denial

Letter). The IRS will make all Round 2

allocation decisions no later than January

15, 2025. In the case of an acceptance,

the amount of § 48C credits allocated to

a project will be based on the taxpayer’s

qualified investment in the qualifying

advanced energy project and whether the

taxpayer intends to apply for and receive

an allocation of § 48C credits calculated

at the 30 percent credit rate (see section

5.07 of Notice 2023-18). In the case of a

denial, a taxpayer may request a debriefing with DOE regarding DOE’s review of

the taxpayer’s § 48C(e) application. The

Denial Letter will include instructions for

requesting a DOE debriefing.

(8) To be eligible to receive a § 48C

credit allocated under the § 48C(e) pro-

1480

gram with respect to a taxpayer’s qualified investment in a qualifying advanced

energy project (§ 48C Facility), the earliest that the taxpayer may place in service the § 48C Facility is after receiving

the Allocation Letter with respect to that

§ 48C Facility. See section 4 of Notice

2023-44.

(9) Within 2 years of receiving an

Allocation Letter, a taxpayer must notify

DOE that the certification requirements

have been met by submitting the required

information through the 48C Portal. See

Appendix B for additional information.

(10) DOE reviews information provided by the taxpayer evidencing that the

requirements for certification have been

met.

(11) DOE notifies the taxpayer and the

IRS if the taxpayer satisfies the certification requirements.

(12) The IRS certifies a taxpayer’s

§ 48C Facility by sending a letter (Certification Letter).

(13) Within 2 years of receiving the

Certification Letter, the taxpayer notifies

DOE that the § 48C Facility has been

placed in service by submitting such

information through the 48C Portal. See

Appendix B for additional information.

If the taxpayer has not placed the § 48C

Facility in service within the required

2-year period or has not notified DOE

that the § 48C Facility has been placed in

service within the required 2-year period,

then the § 48C credit allocated to the taxpayer’s § 48C Facility is forfeited.

(14) DOE notifies the taxpayer and

the IRS that it has received the taxpayer’s notification that the § 48C Facility

has been placed in service or notification

that the taxpayer will not place the § 48C

Facility in service within the required

2-year period. See section 5.09 of Notice

2023-18.

(15) If the taxpayer has placed the

§ 48C Facility in service within the

required 2-year period and has notified

DOE, then the taxpayer claims the § 48C

credit on its Federal income tax return for

the taxable year in which the § 48C Facility was placed in service.

(16) If the taxpayer chooses to withdraw a submission at any phase of the

§ 48C(e) program (whether at the concept paper phase, the § 48C(e) application

phase, the post-Allocation Letter phase,

Bulletin No. 2024–24

or the post-Certification Letter phase),

the taxpayer must provide a formal withdrawal notification through the 48C Portal.

SECTION 4. SECTION 48C

ADDITIONAL RULES

.01 Section 48C Energy Communities. A § 48C Facility is determined to be

located in a § 48C(e) Energy Community Census Tract at the time that DOE

provides recommendations to the IRS. A

§ 48C Facility is treated as located within

a § 48C(e) Energy Community Census

Tract if the § 48C Facility satisfies the

Footprint Test as provided in section 6.03

of Notice 2023-44. A taxpayer can determine whether its project is located within

a § 48C(e) Energy Communities Census

Tract by referring to the list of Section

48C(e) Energy Communities Census

Tracts provided by Appendix C. Additionally, a map of § 48C(e) Energy Communities Census Tracts has been provided by

the DOE and is available at www.energy.

gov/infrastructure/48C.

.02 Selection Criteria for all projects

seeking an allocation from the § 48C(e)

Bulletin No. 2024–24

program. Section 48C(d)(3) lists the

selection criteria used to determine which

qualifying advanced energy projects merit

a DOE recommendation. Section 7 of

Notice 2023-44 provides additional detail

regarding these criteria, including how

the criteria are used to evaluate concept

papers and § 48C(e) applications.

SECTION 5. PAPERWORK

REDUCTION ACT

Any collection burden associated with

this notice is accounted for in OMB Control Number 1545-2151. This notice does

not alter any previously accounted for

information collection requirements and

does not create new collection requirements not already approved by the Office

of Management and Budget.

SECTION 6. EFFECT ON OTHER

DOCUMENTS

Notice 2023-18 is clarified and modified. Notice 2023-44 is amplified and

superseded.

1481

SECTION 7. DRAFTING

INFORMATION

.01 The principal author of this notice

is Alan W. Tilley of the Office of Associate Chief Counsel (Passthroughs & Special Industries). For further information

regarding this notice contact Mr. Tilley on

(202) 317-6853 (not a toll-free call).

.02 Any questions or comments regarding the non-tax aspects of this notice can

be submitted to DOE at 48CQuestions@

hq.doe.gov. DOE may post questions and

answers related to this notice at https://

www.energy.gov/infrastructure/48C. Any

questions or comments received under this

notice are subject to public release pursuant to the Freedom of Information Act.

DOE is under no obligation to respond to,

or acknowledge receipt of, any questions

or comments submitted under this notice

and any responses provided do not constitute legal advice provided by either DOE

or the IRS.

June 10, 2024

Table of Contents

1.1

1.2

1.3

APPENDIX A – Eligibility. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1483

Clean Energy Manufacturing and Recycling Projects . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1483

Industrial Decarbonization Projects . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1485

Critical Material Projects. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1486

APPENDIX B – DOE Application Process . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1487

2.1 Executive Summary. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1487

2.2 Glossary of Terms. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1488

2.3 DOE Review Process. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1489

2.3.1 Program Process . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1489

2.3.2 Program Key Dates. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1489

2.3.3 Program Priorities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1489

2.4 Stage 1, Concept Paper Guidance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1490

2.4.1 Concept Paper Submission Requirements. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1491

2.4.2 Concept Paper Template . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1491

2.4.3 Concept Paper Review Process Overview. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1493

2.5 Stage 2, 48C(e) Application Guidance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1494

2.5.1 Application Submission Requirements. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1494

2.5.2 Application Submission Material Guidelines. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1495

2.5.3 Application Review Process Overview. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1501

2.6 Additional Application Materials. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1502

2.6.1 Data Sheet. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1502

2.6.2 Section 48C(e) Application Appendix Files . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1503

2.7 Technical Review Criteria . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1503

2.7.1 Clean Energy Manufacturing and Critical Materials Projects. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1503

2.7.2 Greenhouse Gas Emissions Reduction Projects . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1505

2.8 Submission and Registration Information and Requirements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1506

2.8.1 General Application Requirements. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1506

2.8.2 Determining an Application’s Project Category . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1506

2.8.3 48C Portal for Submission of Application. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1507

2.8.4 Application Forms and Format of Submissions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1508

2.8.5 Electronic Authorization of Applications . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1508

2.8.6 Markings of Confidential Information. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1508

2.9 DOE Recommendation Process. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1508

2.9.1 Program Policy Factors. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1508

2.9.2 DOE Recommendations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1509

2.10 Post Allocation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1509

2.10.1 Requirements for Certification . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1509

2.10.2 Request for Debriefing. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1509

2.11 Questions/Comments and Informational Webinar. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1509

2.11.1 Questions and Comments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1509

2.11.2 Informational Webinar. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1509

APPENDIX C – 48C(e) Energy Communities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1510

June 10, 2024

1482

Bulletin No. 2024–24

APPENDIX A – Eligibility

1. Qualifying Advanced Energy

Projects

THIS APPENDIX A SUPERSEDES

APPENDIX A OF NOTICE 2023-44.

For the purposes of determining eligibility for the § 48C credit, a “qualifying

advanced energy project” means:

1.1 Clean Energy Manufacturing and

Recycling Projects

A qualifying advanced energy project

in this category involves re-equipping,

expanding, or establishing an industrial or

manufacturing facility. The facility must

manufacture or recycle one or more of the

specified advanced energy properties outlined below.

Note: If only a portion of a facility will

be used to manufacture or recycle eligible

property as described in this Appendix,

then the qualified investment proposed in

the § 48C application should only include

costs for the portion of the facility that

will be used to manufacture or recycle eligible property.

a. Property designed to be used to

produce energy from the sun, water, wind,

geothermal deposits (within the meaning

of § 613(e)(2)), or other renewable

resources.

(i) Examples of eligible property

include solar panels and their components and sub-components (e.g., solar

cells, solar glass, wafers, and polysilicon)

and their specialized support structures;

wind turbines, towers, floating offshore

platforms, and related equipment; power

electronics designed for use with eligible solar or wind property; equipment to

concentrate sunlight to generate heat for

industrial processes or to convert it to

electricity; geothermal turbines and heat

pumps; hydropower turbines; and other

products directly used to generate electrical and/or thermal energy from renewable

resources, as well as the specialized components, subcomponents, and materials

incorporated into any such eligible property, including equipment for sensing,

communication, and control.

Bulletin No. 2024–24

(ii) Examples of ineligible property

include equipment used for purposes other

than converting energy from renewable

resources into electricity, building heat,

or industrial process heat. This includes

gas turbine generator sets which burn natural gas, or boilers that heat water using

fossil fuels. Also, clean energy development projects are ineligible. These include

power generation projects that use solar

panels, wind turbines, or hydropower turbines to generate electricity.

b. Fuel cells, microturbines, or energy

storage systems and components.

(i) Examples of eligible property

include stationary batteries; stationary

hydrogen fuel cells; hydrogen storage

vessels; microturbines for combined heat

and power systems; pumps and turbines

for pumped hydropower storage systems;

and the specialized components of any

such equipment, including equipment for

sensing, communication, and control.

(ii) Examples of ineligible property

include heavy-duty gas turbines.

(iii) Note: For electric vehicle batteries

and fuel cells for vehicles see the “light-,

medium-, or heavy-duty electric or fuel

cell vehicles” project class.

c. Electric grid modernization equipment

or components.

(i) Examples of eligible property include

grid equipment for electricity delivery;

power flow, control, and conversion,

such as transformers, power electronics,

advanced cables and conductors, advanced

meters, breakers, switchgears, composite

poles, converters, medium-voltage direct

current (MVDC) and high-voltage direct

current (HVDC) lines, grid-enhancing

technologies, and electrical steel or alloys

used in transformer cores. Examples of eligible property also include the specialized

components of any such grid modernization equipment, including components for

sensing communication, and control.

(ii) Electric vehicle supply equipment

qualifies under the “light-, medium-, or

heavy-duty electric or fuel cell vehicles”

project class. Storage technologies for

1483

grid applications qualify under the “fuel

cells, microturbines, or energy storage

systems and components” project class.

d. Property designed to capture, remove,

use, or sequester carbon oxide emissions.

(i) Examples of eligible property

include carbon capture equipment or

other property necessary to compress,

treat, process, liquefy, pump or perform

some other physical action to capture carbon oxide emissions, including solvents;

membranes; sorbents; chemical processing equipment; compressors; monitoring

equipment; and injection equipment; and

well components such as packers, casing

strings, CO2-resistant concrete, steel tubulars, wellhead, valves, and sensors suitable

for use in Underground Injection Control

(UIC) Class VI wells. Eligible property

also includes transportation equipment, as

in a system of gathering and distribution

infrastructure. These include pipelines,

temporary or transportation-related carbon oxide storage tanks, valves, sensors,

and control panels that serve in collecting

carbon oxides captured from an industrial

facility or multiple facilities for the purpose of transporting that carbon oxide.

Additional examples include equipment

to convert carbon oxides through mineralization, thermochemical, electrochemical, photochemical, plasma-assisted,

or other catalytic process approaches to

carbon-based products such as synthetic

fuels, chemicals, solid carbon products,

and inorganic materials.

(ii) Examples of ineligible property

include scrubbers for conventional air

pollutants (except those that are required

to remove pollutants upstream of carbon

capture equipment for technical performance reasons), energy generation equipment (except as related to energy recovery

at carbon capture systems), and refining

equipment. Also, facilities that install

equipment to capture, remove, use, or

sequester carbon oxide emissions are not

eligible under this category. These properties are considered deployments. The

installation of CCUS equipment at existing facilities may be eligible under the

Industrial decarbonization category (see

June 10, 2024

Section 1.2, Industrial Decarbonization

Projects).

e. Equipment designed to refine,

electrolyze, or blend any fuel, chemical,

or product which is renewable, or

low-carbon and low-emission. For the

purposes of Round 2 of the § 48C(e)

program, a qualifying advanced energy

project in this category must include

projects that manufacture or recycle

equipment used to produce the following:

(i) Renewable transportation fuel that is

(A) suitable for use as a fuel in a vehicle, marine vessel, or aircraft,

(B) derived from or co-processed

with

(I) a biomass feedstock, or

(II) hydrogen produced from

renewable

energy

and

inputs, and

distillates or fossil fuels, including coal, natural gas, and petroleum.

(ii) Clean hydrogen produced with a

well-to-gate lifecycle greenhouse gas

(GHG) emissions rate of not greater

than 4 kg CO2e per kg H2, in accordance with the definition of qualified

clean hydrogen under § 45V, Credit

for Production of Clean Hydrogen.

(iii) Other fuel that is

(A) derived from or co-processed

with a renewable feedstock or

achieves at least a 50 percent

reduction in lifecycle GHG

emissions in comparison with the

conventional alternative,

(B) not a transportation fuel suitable

for use in a vehicle, marine vessel, or aircraft, and

distillates or fossil fuels, including

coal, natural gas, and petroleum.

(iv) Product or chemical that is

(A) derived from or co-processed

with a renewable feedstock or

achieves at least a 50 percent

reduction in lifecycle GHG

emissions in comparison with the

conventional alternative,

(B) suitable for use as an industrial

feedstock, and

distillates or fossil fuels, includ-

June 10, 2024

ing coal, natural gas, and petroleum.

(v) Examples of eligible property

include electrolyzers such as alkaline

cells, proton-exchange membrane (PEM)

cells, and solid-oxide electrolysis cells

(SOECs). Other eligible equipment

includes mixing devices, pumps, separation devices, bioprocessing equipment,

biomass preprocessing equipment, and

reactors. However, these pieces of equipment must be intended for use in the production of eligible fuels, chemicals, and

products. Examples of these fuels, chemicals, and products include low-emissions

ammonia, renewable biofuels, including

sustainable aviation fuel, fuels designed to

replace petroleum fuel in on-road and offroad applications. Equipment for the production of low-emissions chemicals, basic

organic chemicals, polymers, and resins

are also included, as long as their intended

use is demonstrated through engineering

specifications or offtake agreements.

(vi) Examples of ineligible property

include those designed to produce fuels

and chemicals derived solely from fossil resources produced through conventional petroleum and natural gas refining.

Additionally, facilities that manufacture

or produce fuels, chemicals, or other

industrial feedstocks, such as renewable

biofuels, hydrogen, and low-emission

ammonia, are also ineligible. These facilities are considered deployment facilities.

For exceptions pertaining to deployment

facilities that produce low carbon chemicals and are eligible in Round 2 refer to

Section 1.1(i), Other advanced energy

property designed to reduce greenhouse

gas emissions as may be determined by

the Secretary. Furthermore, it is important

to note that a qualifying advanced energy

project must exclude any portion of a

project that involves the manufacturing or

recycling of equipment used in the refining or blending of any fuel other than fuels

described in this category.

f. Property designed to produce energy

conservation technologies (including

residential, commercial, and industrial

applications).

(i) Examples of eligible energy conservation property include technologies

and grid-interactive devices eligible for

1484

residential or commercial efficiency

improvements for purposes of the § 25C

credit or the § 179D tax deduction, as well

as equipment that directly reduces net

energy use in industrial applications, such

as ultra-efficient heat pumps, insulation,

ultra-efficient hot water systems, sensors,

controls, and similar advanced efficiency

technologies.

(ii) Examples of ineligible energy

conservation property include those that

reduce electricity usage by increasing

the facility’s natural gas or other fossil

fuel usage and/or lead to increased system-level emissions.

g. Light-, medium-, or heavy-duty

electric or fuel cell vehicles, as well as

technologies, components, or materials

for such vehicles, and associated

charging or refueling infrastructure.

(i) Examples of eligible property

include battery electric, plug-in hybrid

electric, or fuel cell cars, trucks, buses,

and other vehicles, as well as the specialized components of those vehicles, such

as batteries, anode and cathode components and materials, electric drive systems, fuel cells, and other materials and

subcomponents.

(ii) Examples of eligible charging or

refueling infrastructure include electric

vehicle supply equipment (EVSE), including EVSE with integrated energy storage,

components from the grid connection to

the vehicle, bidirectional charging equipment, and components used in hydrogen

refueling stations (e.g., hydrogen compressors, pumps, storage vessels, and dispensing equipment).

(iii) Examples of ineligible property

include internal combustion engine vehicles of all sizes, non-plug-in hybrid vehicles of less than 14,000 pounds gross

vehicle weight rating, and their components, as well as associated refueling

infrastructure, such as petroleum, liquefied or compressed natural gas, or ethanol

refueling stations. Examples of ineligible charging infrastructure property also

include electrical components upstream of

the charging station’s service connection

to the grid and components of charging

or refueling stations, such as signage, that

are not directly involved in the transfer of

fuel or power to the vehicle.

Bulletin No. 2024–24

h. Hybrid vehicles with a gross vehicle

weight rating of not less than 14,000

pounds, as well as technologies,

components, or materials for such

vehicles.

(i) Examples of eligible property

include traction batteries, converters,

power electronics, and assembled hybrid

vehicles of not less than 14,000 pounds

themselves, but components and materials

must be designed for large hybrid vehicles

with a gross vehicle weight rating of not

less than 14,000 pounds, as demonstrated

through engineering specifications and/or

offtake agreements.

i. Other advanced energy property

designed to reduce greenhouse gas

emissions as may be determined by the

Secretary.

(i) Examples of eligible advanced

energy property include specialized components and equipment for nuclear power

reactors or their fuels (e.g., including

components and equipment for fabrication

of fuels, and manufacturing of equipment

for conversion, enrichment, and deconversion), and equipment used to reduce the

emissions of industrial facilities, such as

heat and process emissions. Property may

be determined to be designed to reduce

GHG emissions either through published

guidance or in the letter notifying an

applicant that the IRS has accepted the

applicant’s application for § 48C(e) certification with respect to the property.

(ii) Examples of eligible advanced

energy properties in this category include

energy-intensive materials that have a

substantially lower carbon intensity when

compared to an appropriate industry-specific benchmark. These materials must not

be derived from primary feedstocks such

as palm fatty acid distillates or fossil fuels

including coal, natural gas, and petroleum. Eligible projects include but are not

limited to projects that expand, re-equip,

or establish facilities for manufacturing or

recycling of low carbon cement, concrete

or components such as supplementary

cementitious materials, low carbon iron

and steel, low carbon aluminum, low carbon chemicals, low carbon pulp or paper,

and low carbon glass. The proposed projects should reduce carbon intensity on a

Bulletin No. 2024–24

life cycle basis by at least 30% compared

to an appropriate industry-specific benchmark. Existing facilities are only eligible

if they re-equip or expand their production lines to produce these materials or

increase capacity respectively; otherwise,

they do not qualify under this category.

(iii) Advanced energy property that

is designed to reduce greenhouse gas

emissions by enabling the production of

other greenhouse gas emission-reducing

advanced energy property may be eligible under this category. For such “other

advanced energy property,” which is not

designed to directly reduce GHG emissions, the applicant must demonstrate

that the advanced energy property is

highly specialized equipment necessary

to strengthen U.S. resilience of critical

domestic energy supply chains and the

reduction of GHG emissions is a necessary ultimate outcome from the production of the advanced energy property. This

can be demonstrated through the applicant’s proposed business plan, including

offtake agreements and any additional

market analysis or other technical specialization, to show the advanced energy

property that is produced or recycled by

the applicant’s industrial or manufacturing

facility will primarily contribute toward

reduction of GHG emissions. An example

of such “other advanced energy property”

that may be eligible is diamond wire saws

necessary in the solar technology supply

chain, so long as the applicant demonstrates the project’s output will be used

primarily for the purpose of manufacturing property designed to produce energy

from the sun.

(iv) Examples of ineligible properties

include projects that re-equip, expand, or

establish facilities that would be used for

enrichment, conversion, or deconversion

of uranium. Similarly, projects that produce uranium or procure equipment that

would be used in the enrichment, conversion, or deconversion of uranium are not

eligible under this category.

1.2 Industrial Decarbonization Projects

An advanced energy project qualifies

under this category if it involves retrofitting an industrial or manufacturing facility, particularly in energy-intensive sectors

such as cement, iron and steel, aluminum,

1485

and chemicals. The retrofit must include

the installation of equipment specifically

designed to reduce greenhouse gas emissions by at least 20 percent. It’s important

to note that this category is exclusively

focused on projects that upgrade the existing facilities to lower greenhouse gas

emissions through the installation of one

or more specified technologies below.

Note: Investments aimed at expanding

a facility such as those intended to increase

manufacturing capacity are not considered

eligible costs to be included as part of

qualified investment under this category.

Therefore, any such ineligible costs must

be excluded from the qualified investment

requested for projects within this category.

However, these type projects may qualify

under the section 1.1 Clean Energy Manufacturing and Recycling project category.

In Round 1, this project category was

referred to as “Greenhouse Gas Emissions

Reduction Projects” (as described and

defined in Appendix A of Notice 202344). The updated project category name

“Industrial Decarbonization Projects” in

Round 2 is a change in terminology only;

eligibility under this project category

remains unchanged between Round 1 and

Round 2, although additional clarifications are provided below.

a. Low- or zero-carbon process heat

systems.

Examples of eligible equipment

include electric heat pumps, combined

heat and power (CHP) systems, thermal

storage technologies, and other heating

systems based on electricity, clean hydrogen, biomass, or waste heat recovery.

b. Carbon capture, transport, utilization,

and storage systems.

(i) Examples of eligible equipment

include carbon capture equipment necessary to compress, treat, process, liquefy,

pump, or perform some other physical

action to capture carbon oxides, and specialized equipment and materials needed

for the transport and storage of carbon

oxides, including carbon dioxide pipelines, monitoring equipment, and injection equipment and well components such

as packers, casing strings, CO2-resistant

cement, steel tubulars, well heads, valves,

June 10, 2024

and sensors suitable for use in Underground Injection Control Class VI wells.

Additional examples include equipment

to convert carbon oxides through mineralization, thermochemical, electrochemical, photochemical, plasma-assisted,

or other catalytic process approaches to

carbon-based products such as synthetic

fuels, chemicals, solid carbon products,

and inorganic materials.

(ii) Examples of ineligible property

include scrubbers for conventional air

pollutants, except those that are required

to remove pollutants upstream of carbon

capture equipment to enhance the performance of the capture equipment; energy

generation equipment, except as related

to energy recovery at carbon capture systems; and refining equipment.

c. Energy efficiency and reduction in

waste from industrial processes.

Examples of eligible equipment

include technologies that reduce direct

fuel use, electricity use, or waste in industrial applications, such as industrial heat

pumps, CHP systems, insulation, sensors,

controls, advanced recycling approaches,

smart energy management, and similar

advanced efficiency technologies.

d. Any other industrial technology

designed to reduce greenhouse gas

emissions, as determined by the

Secretary.

(i) Examples of other eligible industrial technologies include electrification

of direct fuel use processes, adoption of

renewable or low-emissions fuels and

feedstocks, and other equipment replacement or process redesigns that reduce

process- or fuel-related emissions or oth-

June 10, 2024

erwise contribute to reducing GHG emissions by at least 20 percent.

(ii) Projects in this category may qualify by installing equipment designed to

achieve a minimum of a 20 percent reduction in GHG emissions in one or more of

the following ways:

(A) Achieve a direct (Scope 1) GHG

emissions reduction of 20 percent facility-wide;

(B) Achieve an indirect fuel- or energy-related (Scope 2) GHG emissions

reduction of 20 percent facility-wide; or

energy-related GHG emissions reduction

of 20 percent at a facility subunit, such as

a particular process step or fuel combustion unit.

(iii) While facilities may be eligible

under this project category by achieving

a 20 percent reduction threshold within

a particular element of their process or

emissions profile, overall combined Scope

1 and Scope 2 GHG emissions impacts for

the full qualifying facility will be taken

into account when evaluating each project

for the purposes of application scoring.

Scope 1 and Scope 2 GHG emissions are

further defined in section 2.2 of Appendix

B, Glossary of Terms.

Instructions for calculating and

demonstrating an emissions reduction

of 20 percent is provided in section

2.6.1 of Appendix B, Data Sheet.

1.3 Critical Material Projects

A qualifying advanced energy project

in this category re-equips, expands, or

establishes an industrial facility for the

processing, refining, or recycling of critical materials (as defined in § 7002(a)

of the Energy Act of 2020 (30 U.S.C.

1486

§ 1606(a)). For purposes of this Round 2,

critical materials consist of:

a. The currently effective final list of

critical minerals as determined by the

U.S. Geological Survey (see 2022 Final

List of Critical Minerals for the list published in 2022 available at: https://www.

energy.gov/cmm/what-are-critical-materials-and-critical-minerals); and

b. Any additional critical materials as

determined by the Secretary of Energy

and for which a final determination is

posted on the DOE’s critical materials

page on or before July 31, 2023, available

at: http://www.energy.gov/criticalmaterials. A proposed determination was posted

at this web address prior to the publication

of this notice. Note: DOE reserves the

right to extend the deadline for concept

paper submissions based on any changes

included in the final determination.

Examples of eligible projects in this

project category include the processing of

raw ore, brines, mine tailings, end-of-life

products, waste streams, and other source

materials into critical materials. Note:

These examples have been updated with

additional clarifying language since the

publication of Notice 2023-18.

Examples of ineligible projects under

this project category include the subsequent physical or chemical transformation of critical materials into derivative

products, including metals manufacturing such as aluminum extrusion and

chemical manufacturing such as anode

and cathode materials production. However, projects involving such derivative

products may be eligible under the Clean

Energy Manufacturing and Recycling

Projects category. Note: These examples

have been updated with additional clarifying language since the publication of

Notice 2023-18.

Bulletin No. 2024–24

2 APPENDIX B – DOE Application Process

DOE Application Process

THIS APPENDIX B SUPERSEDES APPENDIX B OF NOTICE 2023-44.

2.1 Executive Summary

Appendix B provides guidance on the

DOE application process. The Appendix

is organized as follows:

•

Section 2.2 Glossary of Terms

defines key terms used throughout the

guidance.

Section 2.3 DOE Review Process

summarizes application process and

program priorities.

Section 2.4 Stage 1, Concept Paper

Guidance summarizes the concept

paper submission requirements,

the concept paper template, and the

review process.

•

Section 2.5 Stage 2, 48C(e) Application Guidance summarizes the

application submission requirements,

application submission guidelines,

and the review process.

Section 2.6 Additional Application

Materials summarizes the data sheet

and appendix files guidelines.

Section 2.7 Technical Review Criteria summarizes the criteria that DOE

will use to evaluate applications.

Section 2.8 Submission and Registration Information and Requirements summarizes the logistics and

requirements for submitting application materials.

•

Section 2.9 DOE Recommendation Process describes program policy factors DOE will use to evaluate

applications.

Section 2.10 Post Allocation

describes requirements for certification for successful applications after

allocations have been made.

Section 2.11 Questions/Comments

and Informational Webinar summarizes how to learn more about the

48C program.

Below are the key dates for Round 2 of the

48C Program.

Table 1: Program Key Dates

Guidance Issue Date

DOE 48C Portal Opens for registration and

concept paper submission

Informational Webinar

Submission Deadline for Concept Papers

48C Portal Opens for full application submission

Submission Deadline for § 48C(e) Applications

IRS Allocation Decision Notifications

Bulletin No. 2024–24

1487

04/30/2024

May 2024, and no later than

05/28/2024

No later than 05/31/2024

30 calendar days after the 48C Portal

Opens for registration and concept

paper submissions at 5:00 PM

Eastern

Summer 2024

Summer / Fall 2024; 50 calendar

days after the 48C Portal Opens to

accept full application submissions

at 11:59 PM Eastern

No later than 01/15/2025

June 10, 2024

2.2 Glossary of Terms

The following terms may be used throughout this appendix describing the DOE application process.

Disadvantaged Community

Scope 1 Emissions

Scope 2 Emissions

Scope 3 Emissions

Specified Advanced Energy Property

Facility Product

Registered Apprenticeship Program

Collective Bargaining Agreement

Project Labor Agreement

Community Benefits Agreement

June 10, 2024

A disadvantaged community is overburdened or underserved and may be either (1) a group

of individuals living in geographic proximity (e.g., such as a census tract identified using

the Climate and Economic Justice Screening Tool), or (2) a geographically dispersed set of

individuals, where either type of group experiences common conditions.

Direct greenhouse gas emissions that occur from sources at the facility associated with the

proposed project (e.g., emissions from fuel combustion or chemical processes).

Indirect greenhouse gas emissions that are associated with the use of energy or fuel at the

facility, but do not occur at the facility (e.g., emissions from a power plant that generates

electricity for the facility).

Indirect greenhouse gas emissions that are associated with the facility’s activities and

products but are not covered in Scope 1 or 2, including emissions from the products themselves in their ultimate use, transportation, or other aspects of the value chain upstream or

downstream from the facility.

A specific category of property listed in 48C(c)(1)(A) and described in further detail in

section 1.1 of Appendix A, Clean Energy Manufacturing and Recycling Projects. Clean

Energy Manufacturing and Recycling Projects under § 48C(e) must either produce or recycle one or more specified advanced energy properties. For example, solar glass would be

considered a specified advanced energy property covered under section 1.1(a) of Appendix

The equipment, materials, or other products produced in the facility associated with the

proposed project and typically sold or leased after production. Facilities may have more

than one facility product. Under the Clean Energy Manufacturing and Recycling Project

category, the specified advanced energy property of a clean energy manufacturing project

is likely to be the facility’s primary product/output. In contrast, the specified advanced

energy property of a clean energy recycling project is an input to the proposed facility,

while the facility product/output is typically one or more materials extracted in the recycling process. In a Critical Materials Recycling Project the qualified critical material

is the input to the proposed facility while facility product/output is the project’s specified

advanced energy property. Facility products from Industrial Decarbonization Projects do

not need to be specified advanced energy property.

A Registered Apprenticeship Program (RAP) is an apprenticeship that has been validated

by the Department of Labor or State Apprenticeship Agency.

A legally enforceable, written contract between a union representing a group of employees

and an employer in a workplace.

A Project Labor Agreement (PLA) is a pre-hire collective bargaining agreement negotiated between one or more construction unions and one or more construction employers

(contractors/project owners) that establish the terms and conditions of employment for a

specific construction project.

Community Benefits Agreements are contracts between employers/developers/contractors/

project owners and community organizations (including but not limited to unions). These

agreements, which can be in the manufacturing sector, the construction sector, or other

industries, may include provisions related to affordable housing, pollution reduction, or

other community priorities. Community Benefits Agreements are unique to each community and their terms will reflect the varied interest of their signatories. Some Community Benefits Agreements are Collective Bargaining Agreements between the contractor/

employer and one or more unions setting terms and conditions of employment—others

are not. If a Community Benefits Agreement is not a Collective Bargaining Agreement, it

cannot set out terms related to wages, rates of pay, hours of employment, or conditions of

work.

1488

Bulletin No. 2024–24

2.3 DOE Review Process

2.3.1 Program Process

A two-stage technical evaluation process will be used for submissions:

•

Stage 1: Concept Paper.

Stage 2: § 48C(e) Application.

In Stage 1, concept paper submission

application materials will be available

for applicants to download from the 48C

portal and concept paper submissions will

be accepted in the 48C portal beginning

no later than May 28, 2024. DOE will

only consider concept papers that are

submitted by 5:00 PM Eastern Time,

30 days after the 48C portal opens.

Section 48C(e) applications for Round 2

allocations will not be considered by DOE

unless a Round 2 concept paper submission is received from an applicant by the

specified deadline. Potential applicants

will not be able to begin concept papers or

submit concept papers for Round 2 after

the deadline.

In Stage 2, following DOE’s review of

concept papers and transmission of letters

encouraging or discouraging the applicant

to continue in the process, the 48C portal

will reopen to receive § 48C(e) application

submissions for subsequent evaluation by

DOE. The date on which DOE will begin

accepting § 48C(e) applications and the

deadline by which they must be submitted

will be conveyed to applicants through the

48C portal at a later date.

In each stage, DOE will review the

submitted materials for compliance and

eligibility, and perform a thorough, consistent, and objective examination based

on technical review criteria and other factors, as described below.

After Stage 2 evaluations of § 48C(e)

applications are complete, DOE will

transmit allocation recommendations to

the IRS for final consideration. The IRS

will notify applicants of final allocation

decisions for Round 2 no later than January 15, 2025.

In conducting its review, DOE may

utilize assistance and advice from qualified personnel from other federal agencies

and/or contractors. DOE will obtain conflict of interest/non-disclosure acknowledgements from and administer required

trainings in advance for all reviewers to

assure that application information will be

kept confidential and shall be used only

for reviewing purposes, in accordance

with applicable requirements. Reviewers

will be required to report all personal and

organizational conflicts of interest.

DOE reserves the right to request clarifications and/or supplemental information

from some or all applicants submitting

applications through written submissions.

DOE may determine whether to recommend or not recommend an application

to the IRS at any time after the § 48C(e)

application has been received, without

further exchanges or discussions with the

applicant.

2.3.2 Program Key Dates

Table 2: Program Key Dates

Guidance Issue Date

DOE 48C Portal Opens for registration and concept paper submission

Informational Webinar

Submission Deadline for Concept Papers

48C Portal Opens for full application submission

Submission Deadline for § 48C(e) Applications

IRS Allocation Decision Notifications

2.3.3 Program Priorities

There are three qualifying advanced

energy project categories (defined in

Appendix A): Clean Energy Manufacturing and Recycling Projects, Industrial

Decarbonization Projects, and Critical

Material Projects. Note that in Round 1,

the Industrial Decarbonization Project

category was referred to as “Greenhouse

Bulletin No. 2024–24

04/30/2024

May 2024, and no later than

05/28/2024

No later than 05/31/2024

30 calendar days after the 48C Portal

Opens for registration and concept

paper submissions at 11:59 PM

Eastern

Summer 2024

Summer / Fall 2024; 50 calendar

days after the 48C Portal Opens to

accept full application submissions

at 11:59 PM Eastern

No later than 01/15/2025

Gas Emissions Reduction Projects”; the

updated project category name in Round

2 is a change in terminology only, and it is

designed to avoid confusion with the second technical review criterion (detailed

below).

It is the applicant’s responsibility to

determine the most applicable qualifying advanced energy project category,

according to the guidance in Section

1489

2.8.2, Determining an Application’s

Project Category. For all three project

categories, eligible applications will be

evaluated by DOE against the four technical review criteria reflecting overall

program objectives:

•

Criterion 1: Commercial Viability

Criterion 2: Greenhouse Gas Emissions Impacts

June 10, 2024

•

Criterion 3: Strengthening U.S. Supply Chains and Domestic Manufacturing for a Net-Zero Economy

Criterion 4: Workforce and Community Engagement

A taxpayer with a qualified investment

in any of the projects described as eligible

in Appendix A of this guidance may apply

for a § 48C(e) allocation. In determining

whether to recommend a project for an

allocation, DOE will consider whether the

proposed project is located in § 48C(e)

Energy Communities Census Tracts, as

defined in section 5.06 of Notice 2023-18.

In Round 2, DOE anticipates recommending approximately $2.5 billion in § 48C

credits to projects located in these communities.

DOE has identified the following priority areas for Round 2. Guidance for future

rounds under § 48C(e) may include different priority areas.

When evaluating Clean Energy Manufacturing and Recycling Projects, DOE

will take into consideration whether the

project addresses the following energy

supply chain and manufacturing priority

areas. These priority areas have been identified based on analytical criteria including an assessment of current and anticipated supply chain gaps in areas eligible

under § 48C(e):

Round 2 Priority Areas (in alphabetical order):

• Clean Hydrogen: Manufacturing of

electrolyzers, fuel cells, and associated components (including gas diffusion layers, bipolar plates, power

electronics, membrane electrode

assemblies and stacks, and catalysts).

• Electric Grid: Manufacturing of distribution and large power transformers and associated subcomponents,

materials (including grain-oriented

electrical steel, amorphous steel),

power electronics, HVDC cables,

HV circuit breakers, and other grid

components and equipment (including MVDC/HVDC converter station

components and switchgears).

• Electric Heat Pumps: Manufacturing

of air-source or geothermal (groundsource) heat pump components and

systems, particularly heat pumps for

industrial or networked applications

June 10, 2024

•

and/or those utilizing low-GWP refrigerants (such as natural refrigerants).

Electric Vehicles**: Manufacturing

of power electronics (including semiconductors, modules, and circuits for

EV motor traction drives, on-board

EV chargers, DC/DC converters, and

EV charging stations), permanent

magnets, and specific battery components (separators, electrolyte salts and

solvents, cathode and anode active

materials and precursors). Manufacturing of capital equipment for battery manufacturing. Manufacturing

of sub-components and components

specific to medium- and/or heavyduty (MDV/HDV) electric vehicles

and final assembly of MDV/HDV

electric vehicles.

Energy-intensive materials that have

a substantially lower carbon intensity when compared to an appropriate

industry-specific benchmark: Manufacturing or recycling of low carbon

cement, concrete or components such

as supplementary cementitious materials, low carbon iron and steel, and

low carbon aluminum

Nuclear Energy: Manufacturing of

specialized components and equipment for nuclear power reactors or

their fuels (including fabrication of

fuels, and manufacturing of equipment for conversion, enrichment, and

deconversion), for both existing reactors and new reactor deployments.

Solar Energy**: Polysilicon, wafer

production facilities, ingot and wafer

production tools, and solar rolled

glass production facilities.

Sustainable Aviation Fuels: Manufacturing of equipment needed for

low-carbon aviation fuel production

(including feedstock handling equipment and pre-treatment reactors).

Wind Energy**: Component production facilities and specialized steel

production, particularly for offshore

wind, such as monopile-grade steel

and towers; recycling of wind components, particularly blades; offshore

wind electrical balance of system

component manufacturing, including

submarine cables (AC and DC), large

power transformers, and HVDC converter stations and converter station

components.

1490

Federal Register : Section 45X

Advanced Manufacturing Production

Credit ** The production of some products

under this section may be eligible for tax

credits under § 45X and receiving an allocation under § 48C(e) may preclude an

applicant from receiving tax credits under

that program. Applicants are encouraged

to evaluate which program may be most

beneficial to their project before submitting a concept paper for consideration

under § 48C(e).

When evaluating Critical Material

Manufacturing and Recycling Projects,

DOE will take into consideration whether

the project processes, refines, or recycles

critical materials as determined by the

Secretary of Energy, as described in section 1.3(b) of Appendix A.

When evaluating Industrial Decarbonization Projects, DOE will give priority

to projects that deeply reduce emissions

to levels significantly below a reasonable domestic industry average (on a sector-specific basis) and the 20% reduction

eligibility requirement stated in section

1.2 of Appendix A, Industrial Decarbonization Projects. DOE will give priority

to Industrial Decarbonization Projects

that advance the commercial viability

and uptake of replicable decarbonization

efforts in major industrial applications

(e.g., cement, iron and steel, aluminum,

chemicals, and other energy-intensive

manufacturing sectors), including innovative solutions, and to projects that align

with one or more cross-cutting industrial decarbonization techniques, such as

energy efficiency, electrification, low-carbon fuels, feedstocks, and energy sources

(LCFFES), material efficiency or substitution, and carbon capture utilization and

storage (CCUS).

2.4 Stage 1, Concept Paper Guidance

The first stage of DOE review requires

applicants to submit concept papers

describing the proposed project. This section describes the information applicants

must include in concept papers and the

format of the submission. Concept papers

will undergo a multi-step evaluation by

DOE. Applicants who applied in Round

1 and were not selected for an allocation

are eligible to submit a concept paper in

Round 2.

Bulletin No. 2024–24

2.4.1 Concept Paper Submission

Requirements

•

This section outlines the format of the

concept paper submission. See Appendix A for a description of the eligibility

requirements for the § 48C credit under

this notice. See Section 2.7, Technical

Review Criteria, for a description of the

technical review criteria that will be used

to evaluate submitted concept papers.

The purpose of the concept paper stage

is to save applicants the considerable

time and expense of preparing § 48C(e)

applications for proposed projects that are

unlikely to be selected for recommendation. The concept paper must conform to

the following requirements:

•

Concept paper must be written in

English.

Use Times New Roman typeface,

a black font, and a font size of 11

points or larger (except in figures and

tables). A symbol font may be used to

insert Greek letters or special characters; the font size requirement still

applies.

•

The control number must be prominently displayed on the upper right

corner of the header of every page.

Page numbers must be included in the

footer of every page.

Each must be submitted in Adobe

PDF format unless stated otherwise.

Each concept paper should be limited

to unique property within a distinct qualifying advanced energy project that does

not overlap with a qualifying advanced

energy project in any other application

submitted by the same applicant:

•

For applicants applying under the

Clean Energy Manufacturing and

Recycling Project category, or the

Critical Materials Project category,

the applicant may submit more

than one application involving the

same facility. However, the qualified investment for each project at

the same facility may not overlap in

Round 2.

For applicants applying under the

Industrial Decarbonization Project

category, the applicant may submit

only one application at the same facility in Round 2.

If projects involve more than one qualifying advanced energy project listed in

Appendix A, then applicants must choose

a primary specified advanced energy

property for their project. The entire

concept paper submission includes two

components: a template (there are unique

forms for Clean Energy Manufacturing

and Recycling Projects/Critical Materials

Projects and Industrial Decarbonization

Projects) and a data sheet.

Note: The maximum file size that

can be uploaded to the 48C portal is 25

MB. Files in excess of 25 MB cannot be

uploaded, and hence cannot be submitted

for review. If a file exceeds 25 MB but

is still within the maximum page limit,

it must be broken into parts and denoted

to that effect in the naming convention

of the file. For example: “[ControlNumber]-ConceptPaper_Part_1.pdf”, “[ControlNumber]-ConceptPaper_Part_2.pdf.

The full list of required files for concept paper submission is illustrated in the

following table.

Table 3: Files Required for Concept Paper Submission

Component

File Format

Concept Paper Template

(either the Clean Energy Manufacturing and Recycling

Projects/Critical Materials Projects Template or the Industrial

Decarbonization Projects Template)

Concept Paper Data Sheet

For all files, “[ControlNumber]”

should be replaced by the application’s

control number. For example, for a control

number of 1234, the file would be named,

“1234-ConceptPaper.pdf”.

2.4.2 Concept Paper Template

At the Concept Paper stage, applicants

may be asked to respond to the following

questions in their submission. Additional

questions may be added to this list when

Bulletin No. 2024–24

PDF

Maximum

Pages

MS Excel

N/A

Concept Paper submissions open. In addition, applicants will be asked to submit an

Excel data sheet.

2.4.2.1 Clean Energy Manufacturing

and Recycling and Critical Materials

Projects Concept Paper Template

•

Project Overview and Schedule

o Describe your company and project

team, including key personnel and

any subcontractors on the project.

1491

File Name

[ControlNumber]ConceptPaper.pdf

[ControlNumber]-CPDataSheet.xlsx

Describe whether the project will establish, re-equip, or

expand a facility; whether the

facility will support the manufacturing, processing, refining, or recycling of specified

advanced energy property; and

the extent to which innovative

equipment and/or processes will

be employed.

Describe the status of the project and provide any additional

June 10, 2024

•

details that are helpful to understand the project schedule.

o List local, state, and/or federal

permits that are required for

this project and specify which

of these permits you already

possess. For any permits you

have yet to obtain, describe the

remaining steps and provide

an estimated timeline for their

acquisition.

Commercial Viability

o Describe the specified primary

advanced energy property that

will be produced by the facility,

including how many units of

specified advanced energy property will be produced annually

and any technological or cost

advantages over product competitors.

o Provide an estimate of annual

market demand for the facility’s

product over the next 5 to 10

years.

o Describe the primary or target

customers for your facility’s

product and the details of any

existing offtake agreements or

other demand commitments

(e.g., with whom, for how many

units, and for how long).

o Describe the different sources of

financing for this project, differentiating between secured financing and planned or expected

financing. Describe the capital

structure (e.g., debt/equity ratio)

if multiple sources of capital will

be used. If financing using the

company’s own funds, specify

the amount of cash available to

support this project.

o Describe anticipated legal, financial, engineering, procurement,

construction, and operational

risk(s) that the project may experience. Explain what actions the

project team will implement to

mitigate these risks and achieve

execution and commercial success.

Strengthening U.S. Supply Chains

and Domestic Manufacturing for a

Net-Zero Economy

o Describe the supply chain segment that your project’s specified

June 10, 2024

•

advanced energy property will

contribute to. Explain whether

your project will mitigate current

challenges that the U.S. is experiencing in maintaining a secure

domestic supply chain, based on

where the product is manufactured today and a comparison

between the proposed manufacturing capacity and current and

projected market demand.

Greenhouse Gas Emissions Impacts

o Describe the impact of your

facility’s product and/or the technologies the product will enable

on greenhouse gas emissions.

Workforce and Community Engagement

o Provide the anticipated geographical location of the eligible

manufacturing, processing, refining, or recycling facility, including the census tract the project

is located in. Explain why you

selected the project site.

o Does the location qualify as a

48C energy community? (see

Appendix C for the full list of

48C energy community Census

tracts)

o Does the location or community

qualify as a disadvantaged community according to the Climate

and Economic Justice Screening

Tool (CEJST)?

o Does the location or community

qualify as a disadvantaged community according to a different

federal, state, or local data tool?

If yes, indicate which one(s).

o If located in an energy community, describe the extent to which

the project will (1) support transition opportunities for workers in the coal, automotive, and

other energy sectors, and (2) use

existing infrastructure in energy

transition communities.

o Describe the extent to which the

project will secure job quality

(e.g., wages, benefits, health and

safety at the workplace, affirmative support of collective bargaining).

o Describe what labor and community engagement has been completed and/or is planned. Sum-

1492

marize any formal agreements

that are planned or have been

executed (e.g., Project Labor

Agreements, Community Benefits Agreements, Collective Bargaining Agreements).

Describe any pollutants that the

project will introduce to the local

community, and explain what

specific, measurable steps the

project is taking beyond compliance with environmental law

to mitigate local environmental

impact.

2.4.2.2 Industrial Decarbonization

Projects Concept Paper Template

•

Project Overview and Schedule

o Describe your company and

project team, including key personnel and any subcontractors on

the project.

o Describe the retrofit project,

including the equipment, technologies, or approaches the project will use to reduce greenhouse

gas emissions from the industrial

or manufacturing facility (e.g.,

low- or zero-carbon process heat

systems, energy efficiency equipment, etc.). Explain the extent to

which innovative equipment and/

or processes will be employed.

o Describe the status of the project and provide any additional

details that are helpful to understand the project schedule.

o List local, state, and/or federal

permits that are required for this

project. Specify which of these

permits you already possess.

For any permits you have yet

to obtain, provide an estimated

timeline for their acquisition.

Greenhouse Gas Emissions Impacts

o Describe the impacts of the

project on the facility’s Scope 1

greenhouse gas emissions.

o Describe the impacts of the

project on the facility’s Scope 2

greenhouse gas emissions.

o Explain how the project will

achieve a 20% reduction in greenhouse gas emissions, including

interactions between Scope 1

and Scope 2 emissions (e.g., due

Bulletin No. 2024–24

•

to electrification). Estimate the

greenhouse gas emissions reductions that will be achieved by the

project in both absolute (e.g.,

million metric tons per year) and

percentage terms.

o Provide an estimate of the levelized cost of measured reduction

in GHG emissions, based on total

project costs.

Strengthening U.S. Supply Chains

and Domestic Manufacturing for a

Net-Zero Economy

o Describe the extent to which the

employed equipment, technologies, or approaches could be

applied to reduce greenhouse gas

emissions beyond the specific

project location, within or across

sectors.

Commercial Viability

o Describe the facility’s outputs, including how many units

are produced annually today.

Explain any anticipated impacts

of the retrofit project on annual

production from the facility.

o Describe the primary or target

customers for your facility’s

products and the details of any

existing offtake agreements or

other demand commitments for

the lower-carbon product (e.g.,

with whom, for how many units,

and for how long).

o Describe how the retrofit project will impact the price of your

product and provide an estimated

price of your facility’s products

after the project is completed.

Describe how the price of your

lower-carbon product will compare to similar technologies or

materials in the same market

segment, including conventional

and lower-carbon products.

o Describe the different sources of

financing for this project, differentiating between secured financing and planned or expected

financing. Describe the capital

structure (e.g. debt/equity ratio)

if multiple sources of capital will

be used. If financing using the

company’s own funds, specify

the amount of cash available to

support this project.

Bulletin No. 2024–24

•

Describe anticipated legal, financial, engineering, procurement,

construction, and operational

risk(s) that the project may experience. Explain what actions the

project team will implement to

mitigate these risks and achieve

execution and commercial success.

Workforce and Community Engagement

o Provide the anticipated geographical location of the project, including the census tract

(see Appendix C) the project is

located in.

o Does the location or community

qualify as a disadvantaged community according to the Climate

and Economic Justice Screening

Tool (CEJST)?

o Does the location or community

qualify as a disadvantaged community according to a different

federal, state, or local data tool?

If yes, indicate which one(s).

o Does the location qualify as a

48C energy community?

o If located in an energy community, describe the extent to which

the project will (1) support transition opportunities for workers in the coal, automotive, and

other energy sectors, and (2) use

existing infrastructure in energy

transition communities.

o Describe the impact of the project on jobs at the facility, including jobs associated with the retrofit and the extent to which the

retrofit will retain or create jobs

in manufacturing.

o Describe the extent to which the

project will secure job quality

(e.g., wages, benefits, health and

safety at the workplace, affirmative support of collective bargaining).

o Describe what labor and community engagement has been completed and/or is planned. Summarize any formal agreements

that are planned or have been

executed (e.g., Project Labor

Agreements, Community Benefits Agreements, Collective Bargaining Agreements).

1493

Describe any pollutants that the

project will introduce to the local

community, and explain what specific, measurable steps the project

is taking beyond compliance with

environmental law to mitigate

local environmental impact.

2.4.3 Concept Paper Review Process

Overview

2.4.3.1 Compliance and Eligibility

Review

DOE will carry out an initial compliance

review for concept papers to determine that

(1) eligibility requirements have been met,

(2) the required information has been submitted, (3) the proposed project is technically valid, and (4) all mandatory requirements of this notice are satisfied. As part of

this review, DOE will determine whether

the proposed project meets the definition

of a qualifying advanced energy project, as

described in Appendix A.

If a concept paper fails to meet compliance or eligibility requirements or fails

to provide sufficient information for evaluation, DOE reserves the right to request

clarifications and/or missing information

from some or all applicants through written submissions provided to DOE in a

timely manner. Concept papers that fail to

meet the compliance or eligibility requirements or do not provide sufficient information for evaluation will be considered

non-responsive and will receive a discouragement letter.

2.4.3.2 Technical Review

After the concept paper compliance

and eligibility review, DOE will perform

a technical review process based on four

technical review criteria:

•

Criterion 1: Commercial Viability.

Criterion 2: Greenhouse Gas Emissions Impacts.

Criterion 3: Strengthening U.S. Supply Chains and Domestic Manufacturing for a Net-Zero Economy.

Criterion 4: Workforce and Community Engagement.

See complete details of the technical

review criteria in Section 2.7, Technical

June 10, 2024

Review Criteria. All technical review criteria will be used in a thorough, consistent, and objective examination to develop

scores for ranking applications and determining merit of each proposed project.

The review of the Commercial Viability

criterion will additionally inform eligibility by determining whether the project

has a reasonable expectation of commercial viability, as described in § 48C(d)(3)

(A). The information requested for each

criterion will vary based on the qualifying advanced energy project category, as

detailed in Section 2.7, Technical Review

Criteria.

2.4.3.3 Final Outcome for Concept

Papers

Following the compliance, eligibility,

and technical reviews, DOE may also

consider program policy factors when

determining the final portfolio of recommendations (see Section 2.9, DOE Recommendation Process).

After this review, DOE will issue a

letter to applicants either encouraging

them to submit a § 48C(e) application

or discouraging them from submitting a

§ 48C(e) application.

An applicant that receives a discouragement letter may still submit a

§ 48C(e) application in accordance with

the § 48C(e) program and additional

guidance. Receiving a discouragement

letter in response to a submitted concept

paper does not disqualify a taxpayer from

submitting a § 48C(e) application but

represents DOE’s feedback that the project, as proposed, is unlikely to receive a

recommendation based on the information provided in the concept paper. DOE

expects to transmit encouragement and

discouragement letters to applicants in the

summer of 2024.

Following the encouragement and discouragement notifications, DOE will publish a summary of general feedback based

on the concept paper review process.

2.5 Stage 2, 48C(e) Application

Guidance

The second evaluation stage will consist of a review of § 48C(e) applications

submitted after the concept paper stage.

Sections 2.6, Additional Application

June 10, 2024

Materials, 2.8, Submission and Registration Information and Requirements,

and 2.9, DOE Recommendation Process

describe the information about the submission process and additional instructions for applicants. Applicants may not

submit a § 48C(e) application unless they

submitted a concept paper by the specified

deadline.

The deadline for § 48C(e) applications

will be communicated to applicants in the

encouragement and discouragement letters and posted on the 48C portal.

2.5.1 Application Submission

Requirements

This section outlines the format of the

§ 48C(e) application submission. Section

48C(e) applications should be formatted

and arranged as described in this section. Strict adherence is required. Content

requirements for § 48C(e) applications

and the technical review criteria used by

DOE to evaluate them are listed in Section

2.7, Technical Review Criteria.

The applicant’s Control Number is

used throughout the submitted files.

The control number is a unique identifier generated by the 48C portal for

your application and will be determined by the system when the applicant first begins your application process.

Section 48C(e) applications must conform to the following requirements:

1. All § 48C(e) applications must be

written in English.

2. All pages must be formatted to fit on

8-1/2 by 11-inch paper with margins

not less than one inch on every side.

Use Times New Roman typeface,

a black font, and a font size of 11

points or larger (except in figures and

tables). A symbol font may be used to

insert Greek letters or special characters; the font size requirement still

applies.

3. References must be included as footnotes or endnotes in a font size of 10

or larger. Footnotes and endnotes are

counted toward the maximum page

requirement.

4. The Control Number, which is the

same number used for the concept

paper, must be prominently displayed

on the upper right corner of the header

1494

of every page. Page numbers must be

included in the footer of every page.

5. Cash flow models should be submitted as a Microsoft Excel spreadsheet

and must include calculation formulas and assumptions.

6. All § 48C(e) applications must be

submitted in Adobe PDF format

unless stated otherwise.

Each § 48C(e) application should be

limited to a unique project with a distinct qualified investment. If projects

involve more than one specified advanced

energy property listed in Appendix A, then

applicants must choose a primary specified advanced energy property for their

project. The entire § 48C(e) application

submission includes five components: a

narrative, a workforce and community

engagement plan, a business entity certification, a data sheet, and appendices.

The § 48C(e) application narrative

must not exceed 30 pages when printed

using the formatting requirements set

forth above and single spaced. Pages in

excess of the page limitation will not be

considered for review. No material may

be incorporated by reference as a means

to circumvent the page limitation. Section

48C(e) application narratives should be

submitted in Adobe PDF format with the

file name [ControlNumber]-48CApplication.pdf.

The workforce and community

engagement portion of the § 48C(e)

application will be submitted in a separate file and must not exceed 5 pages

when printed using the formatting

requirements set forth above and single

spaced. Pages in excess of the page limitation will not be considered for review. No

material may be incorporated by reference

as a means to circumvent the page limitation. The § 48C(e) application workforce

and community engagement plan should

be submitted as a separate file in Adobe

PDF format with the file name [ControlNumber]-App-WCE.pdf.

The 48C Business Entity Certification,

which supports DOE’s Due Diligence

Review, should be completed and submitted as a separate file using the provided

template or a comparable format including

the same substantive information. Applicants must submit the file as a PDF with

the file name [ControlNumber]-BusinessEntityCertification.pdf.

Bulletin No. 2024–24

The 48C Application Data Sheet should

be completed and submitted as a separate

Excel document with the file name [ControlNumber]-App-DataSheet.xlsx. Additional instructions for completing the 48C

Application Data Sheet are included in

Section 2.6, Additional Application Materials.

Any supporting documents should

be uploaded as separate, individual files,

preferably in Adobe PDF format. Content provided as appendices do not count

towards any page limits described above.

Note: The maximum file size that

can be uploaded to the 48C portal is 25

MB. Files in excess of 25 MB cannot be

uploaded, and hence cannot be submitted

for review. If a file exceeds 25 MB but is

still within the maximum page limit, it

must be broken into parts and denoted to

that effect. For example: “48CApplication

_Part_1.pdf”, “48CApplication_Part_2.

pdf”.

The full list of required files for

§ 48C(e) application submission is illustrated in the following table.

Table 4: Files Required for § 48C(e) Application Submission

Component

Section 48C(e) Application

Section 48C(e) Application Workforce and

Community Engagement Plan

Business Entity Certification

File Format

PDF

Maximum Pages

File Name

[ControlNumber]-48CApplication.pdf

[ControlNumber]-App-WCE.pdf

PDF

N/A

48C Application Data Sheet

Appendix Files

MS Excel

Various

N/A

[ControlNumber]BusinessEntityCertification.pdf

[ControlNumber]-App-DataSheet.xlsx

[ControlNumber]-Appendix-[FileTitle].

[format]

(e.g. 1234-Appendix-1.pdf)

For all files, “[ControlNumber]”

should be replaced by the application’s

control number. For example, for a control

number of 1234, the file would be named,

“1234-ConceptPaper.pdf”.

See Sections 2.6, Additional Application Materials and 2.8, Submission and

Registration Information and Requirements for information on which supporting documents should be submitted as

appendix materials.

2.5.2.1 Clean Energy and Critical

Materials Manufacturing and Recycling

Projects

2.5.2 Application Submission Material

Guidelines

•

The following subsections contain

detailed guidance for content requirements for each project category—Clean

Energy Manufacturing and Recycling

Projects, Industrial Decarbonization

Projects, and Critical Material Projects—

for the § 48C(e) application stage. Applicants should complete their application

package using only the guidance in this

section for their application’s project category. The Workforce and Community

Engagement application guidelines

apply to and are consistent across all

project types.

•

Bulletin No. 2024–24

Company Overview

Describe your company, your team on

the project, and prior experience producing proposed product(s).

•

Project Summary

Describe the proposed facility, including anticipated number of employees,

and geographic location.

Indicate the objectives of the investment or project, including:

o Whether the project will establish, re-equip, or expand a facility.

o The specified advanced energy

property or project, and whether

the facility will manufacture, process, refine, or recycle the specified advanced energy property.

If the project involves more than

one specified advanced energy

property, indicate the project’s

primary advanced energy prop-

1495

•

erty, and any additional advanced

energy properties the project will

produce or recycle.

o In the case of a recycling project, describe the facility’s products and the clean energy supply

chains they will support.

Describe the equipment and processes

employed at the proposed facility to

manufacture or recycle the proposed

advanced energy property.

o If the proposed project re-equips

or expands an existing facility,

describe clearly what the proposed project will add or change

in the existing facility.

o Provide a list of the anticipated

eligible property that will make

up the qualified investment of the

qualifying advanced energy project.

Describe any significant changes to

the project that have occurred since

the concept paper stage.

Project Management and Timeline

•

Provide a project schedule from

construction through operation and

June 10, 2024

•

achieving full production capacity,

which demonstrates how certification requirements will be met within

two (2) years of receiving an allocation decision from the IRS, and how

the project will be placed in service

within two (2) years of such certification.

Describe plans or strategies in place

to ensure sufficient provision of crucial resources required for the project’s successful execution.

Summarize status of the Engineering,

Procurement, Construction Agreements, and Operations and Maintenance Agreements.

Siting and Permitting

•

Explain the rationale for selecting the

project site and illustrate the site can

fully meet all environmental, water

supply, transmission interconnection,

and other necessary requirements.

Summarize the status and plans,

including timeline to secure all

required permits such as all federal,

state, and local permits, including

environmental authorizations (if

applicable) or reviews necessary to

commence construction of the project.

•

Risk Management Plan

•

Identify project risks or challenges—

including legal, financial, engineering, procurement, construction, and

operational risks—and any relevant

mitigation strategies.

Include a discussion of natural disasters (e.g., earthquakes), climate

impacts and extreme weather patterns

(e.g., tornadoes, hurricanes, heat and

freezing temperatures, drought, wildfire, and floods) that may impact the

resilience/sustainability of the project.

Financial Information

•

Submit a cash flow model detailing

investments in and cash flows anticipated over the facility’s expected

lifetime, including a description of

the methodology and all assumptions

used.

June 10, 2024

Describe the payback period, net

present value (NPV), adjusted present value (APV) and break-even analysis for the project and other financial

metrics including return on investment and return on assets.

Estimate the project’s amount that

will be treated as a qualified investment (as determined under § 48C)

if the project is certified to receive

a credit. The applicant may use any

reasonable methodology and assumptions in estimating this amount.

Describe the amount of equity that

will be invested in the project, including the sources of such equity and

their strengths.

Describe the amount of total debt

obligations that will be incurred and

the funding sources of all such debt.

Describe any local, state, or other federal incentives or funds that are being

pursued or have been awarded for the

proposed project, such as grants, loan

guarantees, or tax credits.

o Include a description of any

instances where any federal

agencies or non-federal governmental entities have entered into

an arrangement as a customer or

offtaker of the project’s products

or services, or other federal contracts, including acquisitions,

leases, and other arrangements,

that may indirectly support the

applicant’s proposed project.

Market Information

•

Describe the markets your products

will serve, including the existing

product market size and company

market share in dollars and volume,

and growth potential for the next 5 to

10 years.

Discuss the current and anticipated

competitiveness of your product in

the next 5 to 10 years, including competing products and competitors. Provide the estimated cost of your facility’s product and how it compares

to similar technologies or materials

in the same market segment, including new and recycled products. This

should be expressed in the same units

as annual production (e.g., $/watt, $/

kilowatt-hour, and $/ton), and appli-

1496

•

cants should include the absolute difference and percentage change from

a reasonable domestic industry average.

Discuss your sales forecast, including details of any offtake agreements

you may have to support your project.

Identify confirmed or potential customers who will purchase, lease, or

otherwise use the facility’s product.

Levelized Cost Information

•

For the facility’s product, discuss the

levelized cost of generated or stored

energy (LCOE), or of GHG emissions abatement (LCEA), based on

costs of the full supply chain. The

reported LCOE/LCEA should assume

that the facility’s products are part of

a final clean energy installation and,

where appropriate, be based on the

financial and resource assumptions

provided in the 48C Application Data

Sheet. LCOE should be expressed in

nominal terms and should not include

any federal, state, or other financial

incentives. The following information should be provided as documentation:

o Brief description of the methodology used as the basis for the

calculation.

o Identification and brief rationale for the source of key values

used in the calculation, including

capital or first costs, operating

and maintenance costs, prices of

commodity fuels or feedstocks,

and carbon emissions associated

with the operation of the end-use

energy product.

o Justification for any use of a

resource-related parameter (e.g.,

capacity factor) different than the

national averages provided in the

data sheet.

o In the case of LCEA, identification and brief rationale for the

key values associated with the

baseline energy mix, including

the cost of generation and carbon

emissions.

o Explanation of any factors

impacting the levelized cost

that could not be quantified

and included in the calculation,

Bulletin No. 2024–24

and their potential directional

effect on the resulting cost (i.e.,

increase or decrease).

Explanation of any relationship

between the cost of the manufactured

property and the performance of the end

use energy product.

Management Plan

Provide the following information for

the company and key management team

members:

•

Describe the ownership structure of

the company, including all beneficiaries.

List key management and senior personnel for the project, including the

names, positions or titles, qualifications, and relevant experience.

Describe the unique capabilities and

expertise of the applicant and any

major project partners.

Include debt or equity sponsors, contractors/vendors (if known), and any

other counterparty that the applicant

believes will enable the project to be

successful, as well as the prior experience of the applicant and any major

project partners in similar undertakings to the proposed project.

Summarize any pending or threatened

action, suit, proceeding, or investigation, including any action or proceeding by or before any governmental

authority, that relates to the senior/

key personnel, and the status of any

appeals.

Describe any corporate health indicators, including legal claims or liabilities, planned debt restructuring,

planned corporate actions, and other

factors that could negatively affect

the likelihood of project completion.

End Product GHG Emissions Impacts

•

Describe the end-use application

of the facility’s products and how

their use will avoid or reduce GHG

emissions. Provide any details about

•

the innovation and performance of

the end product (e.g., efficiency,

range, and economic life) that indicate its ability to facilitate deeper

GHG emissions reductions than

leading competitors or incumbents.

Quantitative information regarding

GHG emissions reductions enabled

by the facility’s product in typical

use should be provided in the Data

Sheet.

o Note: For applicants applying

for other advanced energy projects under section 1.1.i.(ii) of

Appendix A, Other advanced

energy property designed to

reduce greenhouse gas emissions as may be determined by

the Secretary, applicants must

demonstrate a reduction of GHG

emissions is an outcome of the

manufacture of the advanced

energy property.

Depending on the nature and application of the advanced energy property,

applicants may choose to include the

following information:

o For facilities that produce critical

materials, components of a large

specified advanced energy product (e.g., blade in a wind tower),

or technologies that provide indirect GHG emissions reductions

(e.g., grid components, storage, or charging infrastructure),

applicants should qualitatively

describe the emissions impacts

of the clean energy technologies

that are enabled by the facility’s products. Applicants should

include internal or external analysis to substantiate indirect emissions benefits.

o In the case of advanced energy

property that reduces GHG

emissions relative to incumbent

technologies (e.g., clean vehicle technologies compared to

conventional vehicle technologies), applicants should describe

the assumptions associated

with their estimated emissions

impacts, including anticipated

market shares, relative emissions

intensities, etc.

In the case of recycling projects,

applicants should qualitatively

describe how the facility’s products are expected to reduce emissions through their use and by

reducing raw material needs or

emissions associated with endof-life.

In the case of advanced energy

projects under section 1.1i of

Appendix A, Other advanced

energy property designed to

reduce greenhouse gas emissions

as may be determined by the

Secretary, “low carbon energy

intensive materials,” applicants

should report emissions and

carbon intensity levels using

facility-specific, material/product-specific cradle-to-gate Type

III (third-party verified) Environmental Product Declarations

(EPDs), in line with the specifications found in EPA’s interim

determination for the Buy Clean

initiative for those relevant products.1 The projects should reduce

carbon intensity on a life cycle

basis by at least 30% compared

to an appropriate industry-specific benchmark.

GHG Emissions from the Facility

•

Qualitatively and quantitatively characterize the anticipated sources of

Scope 1 or Scope 2 GHG emissions

(defined in Section 2.2, Glossary of

Terms) in the manufacturing, processing, refining, or recycling process. Emissions estimates should

be provided in the 48C Application

Data Sheet using the methodology

described in Section 2.6, Additional

Application Materials where available, input assumptions should be

justified with publicly available data

and engineering studies. Explain any

significant differences between direct

emissions from the facility and industry averages.

https://www.epa.gov/system/files/documents/2023-01/2022.12.22%20Interim%20Determination%20on%20Low%20Carbon%20Materials%20under%20IRA%2060503%20and%20

60506_508.pdf

Bulletin No. 2024–24

1497

June 10, 2024

•

Provide any details about the manufacturing, processing, refining, or

recycling process (e.g., efficiency,

lifetime, electrification, low-carbon

fuels, etc.) that indicate its potential to result in lower emissions than

leading competitors or incumbents.

Wherever possible, the applicant

should substantiate assessments of

process improvements with descriptions of recent analysis or engineering

studies.

Describe any planned efforts to mitigate GHG emissions of the proposed

facility.

Impact on U.S. Supply Chains and

Domestic Manufacturing

•

Indicate whether production from the

facility covers multiple supply chain

segments—processed material, subcomponents, components, systems/

end products—and how those segments interact.

Indicate whether the facility’s products will be used in multiple specified advanced energy technologies

(e.g., wind, solar, and electric grid) or

multiple sectors (e.g., transportation,

industry, and electricity). Reference

any offtake or sales arrangements

provided in the Commercial Viability

section to justify the end-use applications.

For Critical Material projects,

describe whether the facility’s products align with U.S. federal, state,

or local domestic content requirements, such as those in the § 30D tax

credit. Reference any offtake or sales

arrangements provided in the Commercial Viability Criterion section to

justify the end-use applications.

In the 48C Application Data Sheet,

submit the relevant production capacity information for the facility’s outputs and justify each in the § 48C(e)

Application narrative.

o Annual production capacity

includes yield loss and throughput data wherever applicable and

possible.

o Manufacturing Contribution

identifies the value added in the

production of the facility’s out-

June 10, 2024

put, as a fraction. Applicants

should transparently state and

justify current and future pricing

assumptions for all significant

value chain segments, including

the product produced at the proposed facility.

Share of Facility Output represents the portion of the facility

output that was used in the production of eligible clean energy

products as opposed to other

applications. Where possible,

applicants manufacturing multiple products (or products with

multiple applications) should utilize offtake or sales agreements

to demonstrate the portion that

will go to eligible applications.

Deployed product lifetime represents the service lifetime of the

facility’s output (not the lifetime

of the facility itself). The applicant should provide and substantiate assumptions with market

reports and/or field data, where

relevant.

a stable and supportive workforce and host

community. The following sub-sections

outline specific content to be included in

the separate PDF document, all of which

apply to all project types. Applicants

are encouraged to use Specific, Measurable, Achievable, Relevant, and Timely

(SMART) milestones wherever possible

and where relevant.

Job Creation and Workforce Continuity

•

Supply Chain Resilience

•

Describe how your facility’s products

will help build resilience of domestic supply chains that are critical for

energy products that facilitate progress towards a net-zero economy,

from raw materials to end-of-life. For

instance, critical materials producers

intending to serve the battery market

should indicate the extent to which

their project supports the electric

vehicle or stationary energy storage

supply chains, as opposed to consumer electronics.

Describe key inputs needed for your

manufacturing or recycling process.

Describe any known sources for your

inputs, including indicating domestic

sources and any current or anticipated

supply chain vulnerabilities.

Workforce and Community Engagement

(as a separate PDF document)

In a separate PDF document, describe

your plan for contributing to job creation

and ensuring project viability, timely completion, and ultimate success by fostering

1498

•

Describe the applicant’s approach to

creating and maintaining high-quality jobs for both new and incumbent

workers. Characterize and estimate

the number and quality of jobs your

project will create (e.g., mechanics

and construction workers).

o Include both direct and indirect

jobs both during completion of

the project (the credit period)

and during operation of the facility after it is placed in service and

any indicators of job quality.

Describe partnerships with apprenticeship readiness programs, registered apprenticeship programs, or

community-based workforce training

and support organizations serving

displaced industrial workers.

o Include the coal, other energy,

and automotive sectors, and others facing systematic barriers to

employment to facilitate participation in the project’s construction and operations.

Summarize the applicant’s plan to

attract, train, and retain a skilled and

well-qualified workforce both during

construction/completion of the project (the credit period) and during

operations/production activities of

the facility after it is placed in service.

o A collective bargaining agreement, labor-management partnership, or other similar agreement would provide evidence

of such a plan. Alternatively,

or additionally, applicants may

describe:

 Wages, benefits, and other

worker supports to be provided as benchmarked at or

above prevailing wages for

construction and the upper

quartile of wages for the

Bulletin No. 2024–24

•

occupation and industry for

operations/production2;

 Commitments to invest in

workforce education and

training, including measures

to reduce attrition, increase

productivity from a committed and engaged workforce,

and support the development of a resilient, skilled,

and stable workforce for the

project, including specific

efforts to recruit, train, and

retain workers underrepresented in the sector, local

workers, and others facing systematic barriers to

employment with measurable goals to achieve these

outcomes; and

 Efforts to engage employees

in the design and execution

of workplace safety and

health plans.

Describe employer commitments to

support employees’ ability to organize, bargain collectively, and participate, through labor organizations of

their choosing, in decisions that affect

them. This could include remaining

neutral during any union organizing

campaigns, permitting union recognition through card check (as opposed

to requiring union elections), willingness to enter into binding arbitration

to settle first contracts, refraining

from holding captive audience meetings, or other supportive measures.

Ensuring Timely Project Completion

Through Workforce and Community

Engagement

Describe current and planned agreements, partnerships or other efforts to

engage with community and labor stakeholders, including as it relates to strengthening support of the community, workforce recruitment and retention, and the

ability to execute the project on schedule

and with adequate workforce.

•

Provide a comprehensive list of stakeholders that the project has engaged

•

or plans to engage from local governments, Tribal governments, labor

unions, and community-based organizations.

Describe current and planned efforts

to engage with listed stakeholders,

including as it relates to the ability to

complete the project in a timely and

effective manner and with adequate

workforce.

Describe current and planned efforts

to ensure availability of the workforce needed to successfully complete

the project and place it in service in

a timely manner, including through

training programs that serve workers

currently underrepresented in the sector.

Describe any activities to strengthen

support of the community such as

through benefit-sharing agreements,

consideration

environmental

impact, and use of local resources.

Discussions should reference any

existing or draft agreements, commitments or plans to develop agreements

such as Good Neighbor Agreements/

Community Benefits Agreements,

Collective Bargaining Agreements,

Project Labor Agreements or Community Workforce Agreements.

Existing agreements must be provided in the submission package as

appendix files.

Local Environmental Impacts

Describe the impact of your project on

local air, water, and/or land quality, as

well as any efforts to mitigate local pollution and waste.

•

Energy Community Transition

Describe the extent to which the project

will support energy communities.

• Describe specific actions to support

energy communities, including transition opportunities for workers in the

coal, other energy, and automotive

sectors. Discussion should reference

engagement with unions, workforce

boards, and/or community-based

workforce training and support organizations serving displaced industrial

workers.

• If applicable, include discussion on

plans to repurpose existing infrastructure/assets that have been abandoned

due to the closing of a coal mine or

coal plant.

•

Discuss any anticipated negative and

cumulative environmental impacts

of the project, including impacts on

local air, water, and/or land quality.

Describe any efforts to mitigate local

pollution and waste.

Determine whether the location or

community qualifies as a disadvantaged community according to

the Climate and Economic Justice

Screening Tool (CEJST).

Within the context of cumulative

environmental impacts, applicants

should use the U.S. Environmental

Protection Agency’s Environmental Justice Screening and Mapping

(EJSCREEN) tool (https://www.epa.

gov/ejscreen) to quantitatively discuss existing environmental impacts

in the project area.

If anticipated project benefits will

flow to an applicable disadvantaged

community, identify applicable benefits that are quantifiable, measurable,

and trackable, such as:

1. A decrease in energy burden;

2. A decrease in environmental

exposure and burdens;

3. An increase in access to low-cost

capital;

4. An increase in high-quality job

creation, the clean energy job

pipeline, and job training for

individuals;

5. Increases in clean energy enterprise creation and contracting

(e.g., through investment in

underserved and underrepresented businesses);

6. Increases in energy democracy,

including community ownership;

7. Increased parity in clean energy

technology access and adoption;

and

8. An increase in energy resilience.

Discuss how the project will maximize all the benefits listed above.

See BLS data on these wage rates here: List of SOC Occupations (bls.gov)

Bulletin No. 2024–24

1499

June 10, 2024

•

Describe how and when anticipated

benefits are expected to flow to the

disadvantaged community. For example, will the benefits be provided

directly within the disadvantaged

communities identified, or are the

benefits expected to flow in another

way? Further, will the benefits flow

during project development or after

project completion, and how will

applicant track benefits delivered?

•

Project Management and Timeline

•

2.5.2.2 Industrial Decarbonization

Projects

Company Overview

Describe your company, your team on

the project, prior experience retrofitting

technologies to reduce GHG emission,

and any company commitments related to

reducing GHG emissions from manufacturing, industrial, or recycling facilities.

Describe any significant changes to

the project scope that have occurred

since the concept paper stage.

•

Provide a project schedule from

construction through operation and

achieving full production capacity,

which demonstrates how certification

requirements will be met within two

(2) years of receiving an allocation

decision from the IRS, and how the

project will be placed in service within

two (2) years of such certification.

Describe plans or strategies in place

to ensure sufficient provision of crucial resources required for the project’s successful execution.

Summarize status, engineering, procurement, construction agreements,

and Operations and Maintenance

Agreements.

Project Summary

Siting and Permitting

•

Describe the eligible industrial or

manufacturing facility to be retrofitted, including, anticipated number

of employees, geographical location,

baseline emissions compared to peers

in your industry.

Include a detailed description of the

equipment and processes employed at

the proposed facility.

Indicate which technologies or processes will be pursued to reduce the

facility’s GHG emissions by at least

20%, including low- or zero-carbon

process heating systems; carbon capture, transport, utilization, or storage

systems; energy efficiency and reduction in waste; or other industrial technology.

Estimate the project’s anticipated

emissions reductions in both absolute

and percentage terms (relative to your

facility’s baseline emissions). Indicate whether the retrofit project will

achieve the required 20% reduction

in (a) Scope 1 emissions (defined

in Section 2.2, Glossary of Terms),

Scope 2 emissions (defined in Section 2.2, Glossary of Terms), or total

(Scope 1 and Scope 2) emissions, and

(b) subunit emissions or facility wide

emissions.

June 10, 2024

•

Explain the rationale for selecting

the project site and illustrate that the

site can fully meet all environmental,

water supply, transmission interconnection, and other necessary requirements.

Summarize the status and plans to

secure all required permits such as

all federal, state, and local permits,

including environmental authorizations (if applicable) or reviews necessary to commence construction of the

project.

•

rics such as payback period, net present value (NPV), or return on investment and return on assets.

Estimate the project‘s qualified

investment (as determined under

§ 48C) if the project is certified to

receive a credit. The applicant may

use any reasonable methodology

and assumptions in estimating this

amount.

Calculate the levelized cost of measured reduction in GHG emissions

(based on costs of the full supply

chain) that will be enabled by the

project. Instructions for calculating

levelized cost metrics are provided in

Section 2.6, Additional Application

Materials.

Explain the methodology and assumptions used in the § 48C(e) application

narrative.

Market Information

•

Discuss the current and anticipated

competitiveness of your product in

the next 5 to 10 years, after retrofitting and how it compares to similar

technologies or materials in the same

market segment, including conventional and lower-carbon products.

This should be expressed in the same

units as annual production (e.g., $/

watt, $/kilowatt-hour, and $/ton) per

the instructions in the 48C Application Data Sheet. Applicants should

include the absolute difference and

percentage change from a reasonable

domestic industry average.

Risk Management Plan

Management Plan

•

Provide the following information for

the company and key management team

members:

• Describe the ownership structure of

the company, including all beneficiaries.

• List key management and senior personnel for the project, including the

names, positions or titles, qualifications, and relevant experience.

• Describe the unique capabilities and

expertise of the applicant and any

major project partners.

• Include debt or equity sponsors, contractors/vendors (if known), and any

•

Identify project risks or challenges

and any relevant mitigation strategies.

Include a discussion of natural disasters (e.g., earthquakes), climate

impacts and extreme weather patterns

(e.g., tornadoes, hurricanes, heat and

freezing temperatures, drought, wildfire, and floods) that may impact the

resilience/sustainability of the project.

Financial Information

•

Describe the financial viability of the

project and provide supporting met-

1500

Bulletin No. 2024–24

•

other counterparty that the applicant

believes will enable the project to be

successful, as well as the prior experience of the applicant and any major

project partners in similar undertakings to the proposed project.

Summarize any pending or threatened

action, suit, proceeding, or investigation, including any action or proceeding by or before any governmental

authority, that relates to the senior/

key personnel, and the status of any

appeals.

Describe any corporate health indicators, including legal claims or

liabilities, planned debt restructuring, planned corporate actions, and

other factors that could negatively

affect the likelihood of project completion.

GHG Emissions from the Facility

•

Describe the portions of the industrial

or manufacturing process that will be

re-equipped by the project, the nature

of the improvements, and how the

improvements drive emissions reductions. Include a description of the

extent to which best-in-class technologies are deployed.

Describe and quantify the Scope 1

and Scope 2 GHG emissions (defined

in Section 2.2, Glossary of Terms) of

the facility immediately before and

after the retrofit project, including

interactions between Scope 1 and

Scope 2 emissions (e.g., electrification projects may reduce Scope 1

emissions but increase Scope 2 emissions). Express post-retrofit emissions reductions in both absolute and

relative (% reduction) terms, where

the latter must be at least 20%.

Applicants should report emissions

levels using facility-specific, material/product-specific cradle-to-gate

Type III (third-party verified) Environmental Product Declarations

(EPDs), in line with the specifications

found in EPA’s interim determination

for the Buy Clean initiative for those

relevant products.3

•

Emissions should be calculated

and submitted in the 48C Application Data Sheet, which is based on

the EPA Greenhouse Gas Reporting Protocol and EPA’s Simplified

GHG Emissions Calculator (https://

www.epa.gov/climateleadership/

simplified-ghg-emissions-calculator). Large industrial facilities with

existing GHGRP reports should

also submit their GHG emissions

figures from the most recent calendar year, expressed in metric tons

of CO2 equivalent. Explain any significant differences between direct

emissions from the facility and a

reasonable domestic industry average.

Supply Chain Resilience

•

Describe the extent to which the

equipment used to facilitate the GHG

emissions reductions at your facility is produced domestically. For

instance, a project utilizing carbon

capture equipment should explain

whether they are sourcing from

domestic CCUS companies or manufacturers.

Describe how your project will

help strengthen resilience of critical

domestic supply chains that facilitate progress towards a net-zero

economy, including by spurring or

fulfilling the growing demand for

low-carbon construction materials,

such as those covered in the Buy

Clean Initiative.

Describe the extent to which the

retrofit project employs innovative

solutions that can enhance U.S. leadership and industrial competitiveness.

Include the use of advanced industrial

or manufacturing approaches.

Workforce and Community Engagement

(as a separate PDF document)

See the application material requirements

in Section 2.5.2.1, Clean Energy and Critical Materials Manufacturing and Recycling Projects above.

2.5.3 Application Review Process

Overview

2.5.3.1 Compliance and Eligibility

Review

DOE will carry out an initial compliance review for § 48C(e) applications to

determine that (1) the eligibility requirements have been met, (2) the required

information has been submitted, (3) the

proposed project is technically valid, and

(4) all mandatory requirements of this

notice are satisfied. As part of this review,

DOE will determine whether the proposed

project meets the definition of a qualifying

advanced energy project, as described in

Appendix A.

If a § 48C(e) application fails to meet

compliance or eligibility requirements

or fails to provide sufficient information

for evaluation, DOE reserves the right

to request clarifications and/or missing

information from some or all applicants

through written submissions provided to

DOE in a timely manner. Section 48C(e)

applications that fail to meet the compliance and eligibility requirements or do not

provide sufficient information f

This text is long and has been trimmed here. Open the source document for the complete record.

This is a copy of a public record, reproduced as it was published. It is not legal advice, and it may not be the version a court would rely on. Check the official source before you cite it.