The IRS recently released Notice 2014-46 (the Notice) which provides welcome guidance to tax equity investors and developers on the construction of wind, geothermal, biomass, landfill gas and certain hydropower and marine hydrokinetic energy projects for purposes of qualifying for the section 45 renewable electricity production tax credit (PTC), or the section 48 investment tax credit (ITC) in lieu of the PTC.
IRS Relaxes and Clarifies Renewable Energy Tax Credit Eligibility Requirements for Projects Under Construction
On August 8, 2014, the Internal Revenue Service (IRS) issued Notice 2014-46 in response to continued industry requests for clarification on several aspects of the renewable electricity Production Tax Credit (PTC) under section 45, or the energy Investment Tax Credit under section 48 in lieu of the PTC (ITC election).
Yesterday, the Minnesota Public Utilities Commission (“MPUC”) approved Xcel Energy’s first Minnesota-based Community Solar Garden (CSG) program.
On July 14, 2014, the Ontario Power Authority (the “OPA”) released final materials for the first request for qualifications (“RFQ”) phase of the Large Renewable Procurement (the “LRP”) process, a new competitive procurement process in Ontario for renewable energy projects generally greater than 500 kW.
Earlier this year, a group of Stoel Rives attorneys traveled to Mexico to assess existing opportunities and pending developments in the Mexican power markets.
An article from the New York Times highlights the innovative approaches that some states and communities are taking to develop solar energy resources.
Mergers and Acquisitions in Renewable Power Sector Signals Growing Optimism About Viability of Renewables
At the Indo-Canada Chamber of Commerce Awards Gala this past weekend, the High Commissioner of India to Canada, Nirmal Vermal, spoke enthusiastically about India’s interest in increasing its investment in renewable power, and also indicated that India would draw from the experiences of countries such as Canada to inform its investment decisions.
Manufacturing is an energy-intensive enterprise. Moreover, in the Northeast, energy and electricity are expensive. We are finding that more and more of our manufacturing clients are taking charge (pun intended) of their energy costs by looking at what used to be called “alternative energy.”
The “age of renewables” has arrived in the United States, the world’s biggest electricity market, Citigroup says, and solar and wind energy are becoming competitive with natural gas peaking and baseload plants.
After the years of inconclusive resource planning, months of contested case proceedings, and days of oral argument, discussion and review that led to today’s deliberations, the Minnesota Public Utilities Commission (“Commission”) unanimously decided not to decide.