The Internal Revenue Service (IRS) has issued new guidance on the "beginning of construction" rules for wind and solar projects, clarifying eligibility for renewable energy tax credits under Sections 45Y and 48E. This guidance comes in a post-Inflation Reduction Act context, affecting developers and investors in renewable energy facilities. Concurrently, the U.S. Department of Commerce has initiated a Section 232 investigation into wind turbines and their components, which could result in tariffs. Analysts from Capstone have indicated that such tariffs might increase input costs for offshore wind projects by approximately 10%, raising the levelized cost of energy by 4%. Industry executives have expressed concern that potential tariffs and political opposition, including from former President Donald Trump, could lead to higher electricity prices and a power supply crunch. Despite political debates, some experts maintain that wind and solar remain cost-competitive compared to coal, and question the need for subsidies. The new IRS guidance and the Commerce Department's probe represent key developments in the regulatory and economic landscape for U.S. renewable energy.