WASHINGTON — Treasury, the IRS and the Department of Energy (DOE) have announced the DOE will no longer accept new applications for the 2023 program year of the Inflation Reduction Act’s Low-Income Communities Bonus Credit Program after Feb. 29.
According to Treasury, applications for the 2023 program year will continue to be accepted on a rolling basis until that time and only applications submitted in categories with remaining capacity will be considered. Updates about how much capacity remains available by category can be accessed via a dashboard on the DOE website.
After 2023 program year applications have been processed, all applications that do not receive an allocation will be withdrawn and those applicants will need to reapply, Treasury said.
More Than 46,000 Apps
Treasury has previously announced that during the initial 30-day application window, the program received more than 46,000 applications for new energy facilities located in low-income communities, on Indian land, as part of affordable housing or directly benefitting low-income households from across the country, including 48 states and the District of Columbia.
“President Biden’s Inflation Reduction Act is ensuring all Americans benefit from the growth of the clean energy economy through good-paying jobs and lower costs, Deputy Secretary of the Treasury Wally Adeyemo said in a statement. “There has been sky-high demand for this program and these historic opportunities to invest in underserved communities will continue in the next program year.”
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