4 Key Takeaways | Harnessing the Inflation Reduction Act: Driving Investments in Renewable Energy and Carbon Reduction
The Capacity Crunch, Part Three: Unpacking the Power of the IRA: The Potential Game-Changing Opportunities for Utilities - Energy Law Insights
Analyzing the Impact of the IRA on Energy Storage — Battery + Storage Podcast
ESG Essentials: What You Need To Know Now - Episode 15 - Climate Week NYC
Tax Issues for Co-location of Energy Storage with Solar or Wind
Value Creation in the Transferable Tax Market
The introduction of Senate Bill 630 and Assembly Bill 1138 aims to provide California with a competitive advantage in its quest to retain and bring back production jobs that are vital to the entertainment industry. The bills...more
Good news came for renewable energy developers on June 29, 2021, when the IRS issued Notice 2021-41. The notice gives developers more time to finish projects and makes it easier to prove that they began construction on a...more
On December 27, President Donald Trump signed a $1.4 trillion appropriations package funding the government through September 2021 and a $900 billion fiscal stimulus law for coronavirus aid. Media attention has focused on the...more
On December 27, 2020, President Trump signed H.R. 133, the “Consolidated Appropriations Act, 2021,” an agglomeration of dozens of individual pieces of legislation which together total nearly 6,000 pages. While general press...more
Congress extends tax credits for certain renewables, and expands tax credits for offshore wind and waste energy recovery. Key Points: ..Production tax credits for onshore and offshore wind projects are extended at a 60%...more
Congress voted Monday evening to approve a $900 billion COVID-19 relief package. The package includes clean energy reforms designed to boost research and development, and extends and enhances renewable energy tax credits....more
Last night, Congressional leaders announced an agreement on a $900 billion COVID relief bill. While the text of the bill has not been released as of this writing, people familiar with the negotiations have indicated that the...more
McDermott hosted GE Renewable Energy North America Services Sales Leader Ben Stafford, Commercial Director of Onshore Wind for the North Region Rob Bienick and Commercial Director of Onshore Wind for the West Region Matt...more
On July 30, McDermott partners Ed Zaelke and Lloyd MacNeil will host will host Ben Stafford, North America services sales leader, and his colleagues from GE Renewable Energy, who will share their perspectives on the following...more
On May 27, 2020, the IRS issued Notice 2020-41, which provides much needed COVID-19-related relief from workforce and supply chain issues impacting the renewable energy industry. The Notice provides the following: ..For PTC...more
The IRS yesterday released anticipated guidance extending the placed-in-service deadline for the Investment Tax Credit (ITC) and Production Tax Credit (PTC). Under Notice 2020-41, the “Continuity Safe Harbor” was extended to...more
The Internal Revenue Service (IRS) recently released Notice 2020-41 (the Notice), providing important relief with respect to the beginning-of-construction requirement for the production tax credit (PTC) and the investment tax...more
IRS Notice 2020-41 provides relief for renewable energy projects that began construction in 2016 or 2017 by extending the “continuity safe harbor” to a five-year period....more
The IRS issues anticipated guidance providing relief to developers facing delays related to COVID-19. Delayed renewable energy projects that began construction in 2016 and 2017 will now have an additional year to qualify...more
Among the recent flood of Congressional, Treasury and IRS activity, the impact on the energy sector has been the subject of much discussion. In this update, we discuss the current top 5 tax questions (and answers) received by...more
The U.S. Department of the Treasury ("Treasury") plans to adjust the current safe-harbor guidelines for the federal production tax credit ("PTC") and investment tax credit ("ITC"), providing some certainty and predictability...more
In a letter addressed to Senator Chuck Grassley, Chairman of the Senate Committee on Finance, Treasury indicates its intention to revise the rules governing the deadline for construction of wind and solar projects to qualify...more
The US Department of the Treasury issued a letter on May 7 stating that it plans to modify the continuity safe harbor for both the production tax credit (PTC) and the energy investment tax credit (ITC). ...more
Background - As the COVID-19 pandemic continues to disrupt project development timelines generally, solar and wind projects that rely on federal income tax credits to obtain financing are particularly sensitive to...more
The COVID-19 pandemic has resulted in widespread disruption of business and industry across California, including the state’s vibrant renewable energy and energy storage industry. Farella Braun + Martel attorneys are tracking...more
The COVID-19 pandemic continues to wreak havoc on a host of industries worldwide and the renewable energy market is not exempt. In the U.S., the renewable market is likely to be impacted by supply chain and construction...more