The Biden Administration has proposed the creation of a new tax credit under the new Section 48D of the Code for qualifying electric power transmission property that is placed in service after December 31, 2021, but before January 1, 2032
Renewable Energy Outlook
Renewable Energy Outlook, published by Foley & Lardner LLP, focuses on legal and regulatory developments affecting the renewable energy sector. The blog covers topics such as tax credits and incentives under the Inflation Reduction Act, energy community designations, construction lending and financing for renewable projects, risk mitigation in construction loan agreements, and utility procurement policies for energy storage. It also addresses supply chain and onshoring trends in clean energy manufacturing, regulatory compliance, and market dynamics impacting renewable energy project development and investment. The content is aimed at legal professionals, developers, investors, and stakeholders involved in renewable energy transactions and policy.
Latest from Renewable Energy Outlook - Page 6
The Future of Illinois Energy Policy: Renewable Energy Set to Expand
On September 15, 2021, Illinois Governor J.B. Pritzker signed into law the sweeping Climate and Equitable Jobs Act (SB2408), establishing the next steps for Illinois energy policy after years of negotiation. This legislation builds on the expansive 2016…
IRS Further Extends Continuity Safe Harbor for ITC, PTC Projects
Forced Labor Sanctions in the Solar Industry – What You Need to Know
Yesterday, the U.S. Customs and Border Protection (“CBP”) issued a Withhold Release Order (“WRO”) against Hoshine Silicon Industry Co. Ltd. , a company located in China’s Xinjiang Uyghur Autonomous Region (“XUAR”). The WRO has instructed personnel at all U.S. ports…
“Clean Green” to Counter Belt and Road
Last week, Bloomberg News reported that the Group of Seven nations (G7) intends to launch an alternative to China’s “Belt and Road Initiative” when they meet later this week in Cornwall, England. The strategy is expected to be called the…
Foley & Lardner Leading Innovation in Risk Management Master Class with Infocast
Join Foley & Lardner on April 14-15 as we discuss risk mitigation innovations in renewable energy project financing at Infocast’s Innovation in Risk Management for Renewable Energy Finance Master Class, in which Foley Partner Darin Lowder will be acting…
Spotlight on PACE: PACE Projects From Downtown Redevelopments to Dairy Farms
Property Assessed Clean Energy (“PACE”) has been maturing into a distinct asset class over the last decade. Foley has been involved in PACE since its early days, from highlighting the three early models program developers used to raise capital and…
Human Rights and Forced Labor Sanctions Announced
Earlier this week, the United States, the European Union, Britain, and Canada imposed sanctions on several Chinese officials for human rights abuses against the Uyghur minority in China’s Xinjiang Uyghur Autonomous Region (XUAR). China promptly retaliated. Although the U.S. has…
A Reminder that Power Purchase Agreements may be Subject to Consumer Protection Laws
With the growth of residential renewable energy power generation, driven in part by a rise in the use of Power Purchase Agreements (“PPAs”), compliance with consumer laws and regulations is critical. PPAs permit solar services providers to own, operate, and…
IRS Releases Notice 2021-05 Extending Continuity Safe Harbor for Projects Constructed Offshore or on Federal Land
The IRS has released Notice 2021-05, which extends the Continuity Safe Harbor detailed in Notice 2018-59 from 4 years to 10 years for offshore wind projects and renewable energy projects constructed on federal land. As such, federal tax credits may…