Legislation to extend the Investment Tax Credit (ITC) to energy storage was re-introduced yesterday by Senators Martin Heinrich of New Mexico and Cory Gardner of Colorado, along with 10 cosponsors. For storage, the ITC currently only applies if paired with
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.
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NYSERDA Unveils $350/kWh Retail Energy Storage Incentive in Implementation Plan and Program Manual
On March 11, the New York State Energy Research and Development Authority (“NYSERDA”) filed its proposed Implementation Plan to administer its Energy Storage Market Acceleration Bridge Incentive Program and support the ambitious New York Public Service Commission (“PSC”) order requiring…