There are several state legislative proposals in Texas that could have adverse impacts on the development and operation of renewable energy projects in Texas.
Continue Reading Anti-Renewables Legislative Proposals in Texas
The Biden Infrastructure Plan: Where Do We Go From Here?
On March 31, the Biden Administration released its much-anticipated American Jobs Plan (the “AJP”), which outlines $2.3 trillion of proposed spending on not only traditional infrastructure programs, but also climate change, housing, drinking water, workforce development, manufacturing, telecommunications, and elderly care measures. Read more about the AJP in this Mayer Brown Legal Update.
Biden Administration Jumpstarts Offshore Wind Energy Projects to Create Jobs
Read about the Biden Administration’s efforts to promote offshore wind and create jobs in this Mayer Brown Legal Update.
Energy Tax Implications of New Infrastructure and Tax Plans
On March 31, 2021, the Biden administration released the American Jobs Plan (the “Infrastructure Plan”), which is a proposal that, if ultimately enacted, aims to modernize outdated infrastructure, create additional jobs and increase the United States’ global competitiveness. Alongside the Infrastructure Plan, the Biden administration released a Made in America Tax Plan (the “Tax Plan”),
More Polar Vortex 2021 Fallout (and Texas Two-Step)
All eyes are on Texas as the energy industry sorts out the impact of the polar vortex. My colleagues wrote this brief update on what is happening.
MISO Interconnection Deposit Loophole Closed
North American development-stage projects interconnecting with Midcontinent Independent System Operator (“MISO”) member utilities may no longer rely on funds deposited for network upgrades being returned if the project ultimately does not move forward. Read more in this Legal Update authored by some of my Mayer Brown colleagues.
Waste Energy Recovery Property Eligible for Investment Tax Credit
The second US stimulus bill, signed on December 27, 2020, included an amendment to Section 48 of the Internal Revenue Code that expands the existing investment tax credit (“ITC”) program to include waste energy recovery property, allowing certain waste heat to power projects to be eligible for ITCs. This Legal Update provides further detail. Read
IRS Offshore Wind Guidance is Officially Published with a Material Tweak
On December 31, 2020, the IRS released Notice 2021-05 (the “Notice”) on its website, in advance of its official publication. As discussed in our earlier blog post, the Notice provides favorable guidance for offshore renewable energy projects (“Offshore Projects”) and renewable projects constructed on federal land (“Federal Land Projects”) and generally allows these
IRS Issues Final Carbon Capture Regulations
Read our Legal Update on the final carbon capture regulations here.
Final Carbon Capture Regulations Released by IRS
The IRS today released final regulations under Section 45Q regarding the carbon capture tax credit. Here is a link to the final regulations.