Full Title: Advanced Nuclear Energy Tax Provisions in the Inflation Reduction Act of 2022
Author(s): Victor Ibarra Jr.
Publisher(s): Nuclear Innovation Alliance
Publication Date: September 10, 2022
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On August 16, 2022, President Biden signed the Inflation Reduction Act (IRA), creating two new technology neutral tax credits for zero-emitting, clean energy projects: a Clean Electricity Production Tax Credit (PTC) and a Clean Electricity Investment Tax Credit (ITC). The technology tax credits are intended to accelerate deployment of clean energy technologies, including advanced nuclear reactors. A project developer could elect either tax credit, but not both.