On April 4, 2023, the Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) released a notice of intent to issue proposed regulations on qualifying for the energy community bonus credit under Sections 45, 45Y, 48 and 48E (Notice). Pursuant to the Inflation Reduction Act that was passed last August, eligible taxpayers can receive a bonus of up to 10% in excess of the investment tax credit under Sections 48 and 48E and an increase of 10% for the production tax credit under Sections 45 and 45Y for clean energy projects and facilities that are located in certain energy communities.
Continue Reading US Treasury to Propose Regulations on Energy Community Bonus Adders
Uncategorized
More Polar Vortex 2021 Fallout
By Jeffrey G. Davis on
Posted in Uncategorized
My partner Paul Forrester wrote a Brief entitled “More Polar Vortex 2021 Fallout: “Austin, We Have a Problem” – Aggregate ERCOT Payment Shortfall Around $3B, But ERCOT Can Only Bill “Default Uplift” at $30M Per Year”. You can read it here.
Anti-Renewables Legislative Proposals in Texas
By Jeffrey G. Davis on
Posted in Uncategorized
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
More Polar Vortex 2021 Fallout (and Texas Two-Step)
By Jeffrey G. Davis on
Posted in Uncategorized
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
By Jeffrey G. Davis on
Posted in Uncategorized
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.