IRS Will Issue Further PTC Start of Construction Guidance

Kelley did not provide a date on which the guidance would be released, but stated that the government would “like to move pretty quickly.”²  Prompt action would be helpful as the industry is concerned that if the guidance comes too late in the year that some projects may not be able to arranging financing to fund construction costs in order to meet the de facto deadline of being placed in service by the end of 2015 in order to avoid application of the “continuous construction” standard.³  Kelley suggested that the guidance may take the form of questions and answers.⁴