45(b)(4)(A) is amended by striking last two sentences and inserting last sentence . (j) Hydropower (1) Credit rate reduction for qualified hydroelectric production and marine and hydrokinetic renewable energy Section 45(b)(4)(A) is amended by striking or (7) and inserting (7), (9), or (11) . (2) Marine and hydrokinetic renewable energy Section 45 is amended— (A) in subsection (c)(10)(A)— (i) in clause (iii), by adding or at the end, (ii) in clause (iv), by striking , or and inserting a period, and (iii) by striking clause (v), and (B) in subsection (d)(11)(A), by striking 25 and inserting 150 . (k) Effective dates (1) In general Except as provided in paragraphs (2) and (3), the amendments made by this section shall apply to facilities placed in service after December 31, 2021. (2) Credit reduced for grants, tax-exempt bonds, subsidized energy financing, and other credits The amendment made by subsection (h) shall apply to facilities the construction of which begins after August 16, 2022. (3) Domestic content, phaseout, energy communities The amendments made by subsections (g) and (j) shall apply to facilities placed in service after December 31, 2022. 223. Modification of energy credit (a) In general The following provisions of section 48 are each amended by striking January 1, 2025' each place it appears and inserting January 1, 2024 : (1) Subsection (a)(2)(A)(i)(II). (2) Subsection (a)(3)(A)(ii). (3) Subsection (c)(1)(E). (4) Subsection (c)(2)(D). (5) Subsection (c)(3)(A)(iv). (6) Subsection (c)(4)(C). (7) Subsection (c)(5)(D). (b) Certain energy property Section 48(a)(3)(A)(vii) is amended by striking January 1, 2035 and inserting January 1, 2024 . (c) Phaseout of credit Section 48(a) is amended by striking paragraphs (6) and (7) and inserting the following new paragraphs: (6) Phaseout for solar energy property (A) In general Subject to subparagraph (B), in the case of any energy property described in paragraph (3)(A)(i) the construction of which begins before January 1, 2024, the energy percentage determined