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Section 48E Clean Electricity Investment Credit
Illinois — state program6 percent base credit of the qualified investment; increased up to 5 times (up to 30%) for facilities meeting prevailing wage and registered apprenticeship requirements; additional 10-percentage points for domestic content requirements; additional 10-percentage points if located in an energy communi
A newly established, technology-neutral investment tax credit that replaces the Energy Investment Tax Credit (Section 48) once it phases out at the end of 2024. It is an emissions-based incentive available for qualified clean electricity facilities and energy storage technology placed in service after Dec. 31, 2024. The credit is eligible for direct payment or transfer, including to tax-exempt organizations and government entities.
Program details
- Type
- tax-credit
- Amount
- 6 percent base credit of the qualified investment; increased up to 5 times (up to 30%) for facilities meeting prevailing wage and registered apprenticeship requirements; additional 10-percentage points for domestic content requirements; additional 10-percentage points if located in an energy communi
- Eligibility
- Taxpayers with a qualified facility and energy storage technology placed in service after Dec. 31, 2024; elective payment and transfer available to certain applicable entities including tax-exempt organizations and government entities; a pre-filing registration is required for elective payments and transfers; taxpayers cannot claim both investment credit and production credit for the same facility
- Status
- open
- Administrator
- Internal Revenue Service (IRS)
Source: Illinois — state program. Confirm current terms with the administering agency before applying.