The U.S. Department of the Treasury and the Internal Revenue Service have issued final regulations for the investment tax credit (ITC) under section 48 of the Internal Revenue Code, which allows a 30% tax credit for certain qualified energy property. The regulations offer guidance for projects that commence construction by December 31, 2024. The Inflation Reduction Act expanded the eligibility of technologies for the ITC, encompassing energy storage technologies and more. The Final Regulations, published on December 12, 2024, in the Federal Register, clarify many aspects for taxpayers with ongoing projects. These regulations are expected to influence clean energy ITCs under section 48E, which lack a construction-start deadline. The Final Regulations enhance the eligibility of property for ITCs, with notable expansions in areas like hydrogen energy storage, biogas facilities, and interconnection property. They remove the end-use requirement for hydrogen storage property, allow upgrading equipment for ITCs in biogas facilities, and clarify that interconnection property is exempt from PWA requirements. Additionally, they specify that interconnection costs can be ITC-eligible for projects exceeding the five-megawatt limit. The regulations cover placing property in service, retrofitted property eligibility, scope determination of ITC-eligible property like 'functionally interdependent' tests, and recapture rules for non-compliance with PWA requirements during the five-year recapture period. Overall, the Final Regulations provide beneficial guidance and clarity for taxpayers involved in clean energy projects seeking ITCs.