Navigating the Inflation Reduction Act: Insights on Brownfield Energy Community Credits - Energy Law Insights
In what it called “the greatest and most consequential day of deregulation in U.S. history,” the Environmental Protection Agency (EPA) announced its most expansive deregulatory initiative to date on March 12, 2025. Through a...more
On February 6, 2025, twenty-two states and four energy industry organizations and businesses filed a lawsuit challenging New York’s “climate superfund” law. This law, signed on December 26, 2024 by New York Governor Kathy...more
Join Troutman Pepper Locke Partners Karlie Webb and Ben Cowan as they delve into the complexities of the Inflation Reduction Act, focusing on the Brownfield Energy Community credits. This discussion covers the statutory...more
On December 26, 2024, New York Governor Kathy Hochul signed the Climate Change Superfund Act (“CCSA” or the “Act”) into law. The law requires certain fossil fuel producers and refiners with sufficient connections to New York...more
Last week, we posted about New York State’s enactment of the Climate Change Superfund Act. We promised to continue to monitor developments concerning climate superfund legislation and to update readers as necessary. It’s been...more
In a “paradigm shift in environmental liability,” some states are seeking to legislate financial responsibility on large coal and oil & gas companies for the public costs associated with strengthening infrastructure against...more
While still a newly minted lawyer early in 1977, I had the good fortune to land a job with the then brand-new Rhode Island Department of Environmental Management. This coincided with the 1976 election of Jimmy Carter as...more
It is now almost 18 months since Congress enacted the Inflation Reduction Act. One of the IRA’s provisions was an adder to the ITC for renewable energy projects located in an “energy community”. One way to be in an energy...more
The regulated community faces a complex and evolving landscape. As we head into 2024, our team of energy, environmental, and environmental, social, and governance (ESG) attorneys provide insights and guidance on how to...more
On April 4, 2023, the IRS and the Treasury issued Notice 2023-29 (the “Notice”) announcing an intention to propose regulations, and providing interim guidance, with respect to the requirements that taxpayers must satisfy in...more
The Inflation Reduction Act (IRA) has been called the most aggressive climate investment ever undertaken by the U.S. Congress. With approximately $370 billion dollars in funding over the next 10 years, it is projected that...more
Summary - On April 4, 2023, the Department of the Treasury and the Internal Revenue Service (IRS) released guidance on the “energy community” tax credit adders (EC Adders) that were added under the Inflation Reduction Act...more
On April 4, 2023, the Treasury Department (Treasury) and the Internal Revenue Service (IRS) issued Notice 2023-29(the Notice) to provide additional guidance on energy community bonus tax credits under IRC sections 45, 45Y,...more
Initial guidance for the bonus credit amount for renewable energy projects located in “energy communities” answers numerous questions about how to prove a project qualifies for extra tax credits. The guidance—which is in...more
The Notice enables developers and investors to more easily determine the Energy Community status of projects. Key Points: ..The IRS and the Treasury Department have provided tables to assist in determining eligibility...more
On April 4, 2023, the Department of Treasury (the “Treasury”) and the Internal Revenue Service (the “IRS”) released Notice 2023-29 (the “Notice”) providing a high-level overview of the rules they intend to include in...more
Earlier this month, the Massachusetts Clean Energy Center (MassCEC) and the Massachusetts Department of Energy Resources (DOER) issued a Request for Proposals for a consultant to conduct an energy storage market update and...more
What will happen in the environmental and energy space in 2023? The last year saw transformative changes in the environmental and energy space in the form of historic spending through the federal Inflation Reduction Act, a...more
It’s well-known that the Trump administration has sought policies of deregulation over the past several years. The administration places emphasis on proper enforcement of existing rules and regulations as a means of achieving...more
EPA’s decision to forego financial requirements will likely face opposition by eNGOs. On July 2, 2019, the US Environmental Protection Agency (EPA) published its proposed decision not to impose new financial responsibility...more
EPA recently released a final regional office realignment plan in response to President Trump’s March 2017 Executive Order 13781. That order required EPA and other federal agencies to improve efficiency, effectiveness, and...more
The Environmental Protection Agency announced, in a 121-page prepublication decision on December 1, 2017, that it will not issue final regulations under Section 108(b) of the Comprehensive Environmental Response, Compensation...more
In compliance with the March 28, 2017 Presidential Executive Order on Promoting Energy Independence and Economic Growth (EO 13783), the Environmental Protection Agency (EPA) has released its Final Report on Review of Agency...more
Describe, in general terms, the key commercial aspects of the oil sector in your country. The US oil industry is divided into three sectors: upstream (exploration and production), midstream (processing, storage and...more
On January 11, 2017, the Environmental Protection Agency’s proposed rule for financial assurance requirements under Section 108(b) of the Comprehensive Environmental Response, Compensation and Liability Act for the hardrock...more