More on offshore wind, this time in California:
California Increases Offshore Wind Development Goals | Perspectives & Events | Mayer Brown
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The Green Energy Tax Incentives of the Inflation Reduction Act of 2022
By Jeffrey G. Davis on
Posted in Carbon Capture Credit, Electric Vehicles, Energy Policy, ITC, PTC, Solar, Tax Policy, Wind
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…
UPDATED: IRS Releases 2022 Section 45 Production Tax Credit Amounts
By Jeffrey G. Davis & George K. Haines on
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
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
Posted in Offshore Wind, Wind
Read about it in this Mayer Brown In Brief.
US House Rules Committee Modifies the “Build Back Better Act”
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
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
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 …
North Carolina, a Little Late to East Coast Offshore Wind Race, Goes 8 GW-by-2040 Large
By Jeffrey G. Davis on
Posted in Offshore Wind, Wind
More still on offshore wind from my partners Paul Forrester and Eric Pogue.