IRS provides guidance for the 2024 allocation round for the Qualifying Advanced Energy Project Credit Program


IR-2024-124, April 29, 2024

WASHINGTON — The Department of Treasury and the Internal Revenue Service today issued Notice 2024-36PDF for owners of clean energy manufacturing and recycling projects, greenhouse gas emission reduction projects and critical material projects.

On Feb. 13, 2023, the Department of Treasury and the IRS issued Notice 2023-18 to establish the program and announce an initial allocation round of credits. On May 31, 2023, the Department of Treasury and the IRS issued Notice 2023-44 to provide additional guidance for the program. Approximately $4 billion in credits were allocated in the first allocation round.

Today’s notice announces the second round of credit allocations for the program to allocate the remaining $6 billion credits. The notice also modifies appendices A, BPDF and CPDF of Notice 2023-44.

Like in the prior allocation round, the Department of Treasury and the IRS are partnering with the Department of Energy (DOE) to recommend projects. The DOE section 48C portal will open no later than May 28, 2024, for taxpayers to submit a concept paper and begin the process of seeking a section 48C credit allocation.

More information about IRA guidance may be found on the Inflation Reduction Act of 2022 page on