Energy industry

The Internal Revenue Service issued a warning cautioning taxpayers to beware of a new scam involving the purchase of clean energy tax credits.

The IRS's Large Business and International Division is providing companies that claim tax credits for renewable energy and electricity projects an expedited way to report them.

The measures include expanded tariffs, tax policy guidance that could heighten demand for some U.S.-made solar equipment and promises of heightened vigilance for signs of unfair trade.

The Treasury released guidance on the tax credit available for producers of sustainable aviation fuel, a measure established as part of Biden's landmark climate law.

A battery-material maker, an electric vehicle charger manufacturer and a rare earth producer were among about 35 recipients of energy tax credits.

Exxon Mobil Corp. won't move forward with one of the world's largest, low-carbon hydrogen projects if the Biden administration withholds tax incentives for natural gas-fed facilities.

Complex transactions in this industry can trigger accounting and reporting issues that may result in SEC letters, restatements and challenging conversations with investors.

Schneider Electric will pay $80 million to acquire tax credits, which in turn will help fund four Engie North America projects that are slated to come online in Texas this year.

Under the draft proposal from the Treasury Department, hydrogen projects would need to adhere to strict environmental requirements.

The U.S. has spelled out new rules for tax credits manufacturers can receive for domestically producing parts necessary for the energy transition — and there's a clear divide for miners and processors.