On Wednesday, the Internal Revenue Service (IRS) published Notice
2015-25, which provides guidance the wind power industry has been waiting
for since the extension of the production tax credit (PTC) in
December.
Notice 2015-25 provides that any wind power project (or other PTC-eligible
project) that started construction prior to 2015 has until the end of 2016 to
be placed in service so as to avoid the application of either the
"continuous construction" or the "continuous work"
standards promulgated by the IRS in Notice
2013-29.2.
