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IRS issued guidance on 2011 calendar year inflation adjustment factors and reference prices used to determine availability of §45 tax credits for renewable electricity production, refined coal production, and Indian coal production.
The IRS stated that the inflation adjustment factor for 201 1 for qualified energy resources and refined coal is 1.4459 and 1.1066 for Indian coal.
According to the IRS, the reference price for calendar year 2011 for facilities producing electricity from wind is 4.68 cents per kilowatt hour. The reference prices for fuel used as feedstock within the meaning of §45 (c)(7) (A) (relating to refined coal production) are $31.90 per ton for calendar year 2002 and $55.66 per ton for 2011, the IRS stated. The IRS also indicated that the reference prices for facilities producing electricity from closed-loop biomass, open-loop biomass, geothermal energy, solar energy, small irrigation power, municipal solid waste, qualified hydropower production, marine and hydrokinetic renewable energy have not been determined for 2011.
Since...