Wind

UPDATED: IRS Releases 2022 Section 45 Production Tax Credit Amounts

By Jeffrey G. Davis & George K. Haines on May 6, 2022

Posted in Inflation Adjustment, IRS Guidance, Wind

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

US BOEM Announces Provisional Winners of Massive Offshore Wind Auction

By Jeffrey G. Davis on February 26, 2022

Posted in Offshore Wind, Wind

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

By Jeffrey G. Davis on January 7, 2022

Posted in Offshore Wind, Wind

Read about it in this Mayer Brown In Brief.

US House Rules Committee Modifies the “Build Back Better Act”

By Daniel T. Kiely, Jeffrey G. Davis, Greg M. Matlock & George K. Haines on November 11, 2021

Posted in Carbon Capture Credit, ITC, Proposed Legislation, PTC, Solar, Storage, Tax Policy, Wind

Read about the recent changes to the proposed “Build Back Better Act” by the US House Rules Committee, including some important changes to green energy tax incentives, in this Legal Update.

Illinois Enacts Comprehensive Climate and Clean Energy Legislation

By George K. Haines on October 18, 2021

Posted in Electric Vehicles, Energy Policy, Solar, Wind

Read about Illinois’ substantial new climate and energy legislative package in this Legal Update authored by my Mayer Brown colleagues, Nadav Klugman, Joe Seliga and Casey Williams.

US House Ways and Means Committee Proposes Substantial Green Energy Support

By Jeffrey G. Davis, Daniel T. Kiely, Amanda Rosenberg, Greg M. Matlock, George K. Haines, Andre M. Smith II & Isaac L. Maron on September 13, 2021

Posted in Carbon Capture Credit, Electric Vehicles, ITC, Proposed Legislation, PTC, Solar, Storage, Tax Policy, Wind

On the night of September 10, 2021, the House Ways and Means Committee released legislative text covering a range of green energy tax incentives, a bill that it hopes will be enacted through the budget reconciliation process and it expects to begin markup of on Tuesday, September 14. This Legal Update provides further detail on …