The IRS and Treasury have issued proposed regulations under sections 45Y and 48E of the Inflation Reduction Act of 2022, focusing on clean energy projects and tax credits. These regulations introduce a 'technology neutral' approach where any qualifying energy generation or storage technology can be eligible for credits if it meets a 'zero or negative' GHG emissions standard. Technologies like wind, solar, geothermal, and nuclear energy are automatically deemed to have zero or negative GHG emissions, while others like hydrogen fuel cells have more stringent rules. The regulations outline the Tech-Neutral PTC and Tech-Neutral ITC, providing base credits and bonus amounts for projects meeting specific criteria. Recapture rules are also introduced for facilities with high GHG emissions rates, and phase-out mechanisms are established for projects initiated after 2032 or when emissions reach certain levels. Overall, these regulations aim to drive investment in clean energy and reduce greenhouse gas emissions in the United States.