California Increases Offshore Wind Development Goals
More on offshore wind, this time in California:
California Increases Offshore Wind Development Goals | Perspectives & Events | Mayer Brown
The Green Energy Tax Incentives of the Inflation Reduction Act of 2022
Here is Mayer Brown’s Legal Update regarding some of the noteworthy proposals in the Inflation Reduction Act of 2022 that related to green energy.
Manchin’s BBB Redux-tion Act – The Inflation Reduction Act of 2022
Last night, after weeks of negotiations, Senators Manchin and Schumer reached a deal on an energy and healthcare bill titled the Inflation Reduction Act of 2022 (the “Act”). The Act includes extensive provisions relating to a range of green energy tax incentives. While these provisions largely track the corresponding provisions in the previously released Build
Carbon Capture, Utilization, and Storage: Class VI Wells and US State Primacy
A number of my Mayer Brown colleagues drafted this Legal Update that provides an overview of the Class VI permit application, the status of current and pending Class VI applications, and the status of state primacy for UIC programs.
UPDATED: IRS Releases 2022 Section 45 Production Tax Credit Amounts
On April 14, 2022, the US Internal Revenue Service (IRS) published a notice that provides the inflation-adjustment factor and reference price for the calculation of renewable electricity production tax credits (PTCs) under Internal Revenue Code (IRC) section 45 for calendar year 2022, as well as the amount of the PTC for 2022 as adjusted for inflation.
On May 5, 2022, the IRS issued corrections to this notice, revising the inflation-adjustment factor from the initially released 1.8012 to 1.7593 and reducing the PTC amounts accordingly.
Continue Reading UPDATED: IRS Releases 2022 Section 45 Production Tax Credit Amounts
Buy Clean: Biden’s Executive Order on Catalyzing Clean Energy through Federal Procurement
With the federal government being the largest energy consumer in the United States, late last year President Biden issued the Executive Order on Catalyzing Clean Energy Industries and Jobs Through Federal Sustainability to set aggressive decarbonization goals for federal agencies. This Legal Update summarizes the executive order, the three primary contracting mechanisms that federal agencies
US BOEM Announces Provisional Winners of Massive Offshore Wind Auction
The Bureau of Ocean Energy Management (BOEM) held a 3-day competitive auction for six lease areas in the New York Bight area off the coast of New York and New Jersey. Read about it in this Mayer Brown Legal Update authored by my colleagues Lauren A. Bachtel, Eric R. Pogue and J. Paul Forrester
NY Announces $500 Million Offshore Wind Investment and 2022 Procurement
Read about it in this Mayer Brown In Brief.
Illinois Enacts Tax Incentives to Attract Electric Vehicle Manufacturing
In November 2021, Illinois Governor JB Pritzker signed the Reimagining Electric Vehicles Act, which establishes the Reimagining Electric Vehicles in Illinois Program to incentivize the production of electric vehicles in the state. This Mayer Brown Legal Update discusses the criteria to qualify for the program and the related tax credits, exemptions and deductions.