The US Internal Revenue Service (IRS) has released Notice 2014-46 (the Notice), which provides further clarification about how a taxpayer can satisfy the requirement that construction of a renewable energy project began before January 1, 2014. The Notice, released on August 8, 2014, is welcome news for the renewable energy industry, which has been anxiously awaiting further guidance with respect to two aspects of the so-called “begin construction” requirement. The Notice addresses those two aspects and modifies a third aspect of the requirement.