Inflation Reduction Act
Endangered Species Act Developments: Court Finds Species Do Not Get The “Benefit Of The Doubt” & Agencies Propose Compensatory Mitigation Under ESA Section 7
Two recent developments may have meaningful impacts on the implementation of Section 7 of the Endangered Species Act (ESA). First, the DC Circuit Court of Appeals issued an opinion in Maine Lobstermen’s Association v. National Marine Fisheries Service and held...
Treasury Department and IRS Release Long-Awaited Guidance on Credit Transfers
On June 14, 2023, the Treasury Department and the Internal Revenue Service (IRS) released long-awaited guidance (the Credit Transfer Guidance) regarding the transfer of energy transition tax credits under Section 6418, [1] which was enacted under the Inflation Reduction Act...
Treasury Department and IRS Release Additional Guidance for the Advanced Energy Project Credit Allocation Program
On May 31, 2023, the Treasury Department and the Internal Revenue Service (IRS) released Notice 2023-44 (the Notice). The Notice provides additional guidance for the new program under Section 48C(e) created by the Inflation Reduction Act of 2022 (the IRA)...
Treasury Department and IRS Release Guidance on the New Domestic Content Bonus Credit
The domestic content bonus credit (the DC Bonus), which was introduced by the Inflation Reduction Act of 2022 (the IRA), provides an enhanced tax credit for renewable energy and storage projects constructed with sufficient US-sourced materials and components (the Domestic...
Offshore Wind Litigation: Court Declines to Halt Vineyard Wind Construction
A federal court has denied a request by members of the fishing industry to pause offshore construction of the Vineyard Wind Project (Project), the first modern utility-scale offshore wind project in the United States to receive all permits and approvals...
Offshore Wind Litigation: Court Denies Challenge to Major Offshore Wind Project
The federal government has successfully defended its approvals of the Vineyard Wind project offshore Massachusetts (Project), setting the stage for further decisions as other challenges proceed. Vineyard Wind is the first modern utility-scale offshore wind project to reach the construction...
Unlikely Allies: Oil and Gas Companies Embrace Renewables and Battery Storage to Meet Global Climate Commitments
Renewable energy has taken center stage in the national energy discussion. Technology and innovation are continuing to progress in the energy sector, and traditional oil and gas companies are embracing clean energy alternatives to assist in powering O&G operations. The...
Treasury Department and IRS Update Energy Community Bonus Guidance
On April 10, 2023, the Treasury Department and the Internal Revenue Service (IRS), without a formal announcement, released a revised version of Notice 2023-29 (the Revised Notice) on the IRS website. The Treasury Department and the IRS released the initial...
CAISO Proposes $9.2 Billion Transmission Plan, But Offshore Wind Transmission Projects Delayed
The California Independent System Operator’s (“CAISO”) draft 2022-2023 Transmission Plan (“Plan”) endorses $9.2 billion in transmission projects to accommodate the state’s projected 40 GW of new resources expected in the next ten years. Given California’s clean energy and decarbonization policies...
Treasury Department and IRS Release Guidance on the Energy Community Bonus Credit
The energy community bonus credit (the EC Bonus), which was introduced by the Inflation Reduction Act of 2022 (the IRA), provides a bonus credit for projects located in Energy Communities. The EC Bonus is available for projects that qualify for...
Treasury Department and IRS Release Initial Guidance on the New Low-Income Communities Bonus Credit Program
The low-income communities bonus credit (the LIC Bonus), which was introduced by the Inflation Reduction Act of 2022 (the IRA), provides an enhanced tax credit for renewable energy projects located in designated low-income communities. The LIC Bonus is available for...
Offshore Wind Litigation: Court Dismisses Challenge to BOEM’s Process to Identify the New York Bight Lease Areas
The federal government’s offshore wind program notched another important victory on March 9, 2023, when the United States District Court for the District of Columbia dismissed a lawsuit seeking to overturn the New York Bight lease auction. The court found...
Treasury Department and IRS Release Guidance on the Advanced Energy Project Credit Allocation Program Under Internal Revenue Code Section 48C(e)
On February 13, 2023, the Treasury Department and the Internal Revenue Service (the IRS) released Notice 2023-18 (the Notice), which established the program (the Allocation Program) to allocate $10 billion of advanced energy project credits (AEPCs) pursuant to section 48C(e)...
Treasury Department and IRS Release Guidance With Respect to the Sustainable Aviation Fuel Credit
On December 19, 2022, the Treasury Department and the IRS released Notice 2023-6 (the Notice), which provides guidance with respect to the credit for sustainable aviation fuel (SAF). The Inflation Reduction Act of 2022 (the IRA) enacted Section 40B of...
BOEM Proposes to Modify its Offshore Renewable Energy Regulations
On January 12, 2023, the U.S. Department of the Interior’s Bureau of Ocean Energy Management (“BOEM”) announced a proposed rule (the “Modernization Rule”) to modernize its regulations for renewable energy development on the U.S. Outer Continental Shelf (“OCS”). The announcement...