On May 31, 2023, the IRS released Notice 2023-44, which provides additional guidance for applicants seeking allocations of the Qualifying Advanced Energy Project Credit under Section 48C of the Internal Revenue Code (a “Section 48C credit”). The Section 48C credit program governs the allocation of $10 billion in U.S. federal income tax credits available to eligible projects. Of the $10 billion allocation, $4 billion must be allocated to projects located in an “energy community” (as defined in Section 45(B)(11)(b) of the Code).