What is the purpose of the Energy Community Bonus Credit? The Inflation Reduction Act (IRA) introduced the Energy Community Bonus Credit to encourage renewable energy project developers to locate their facilities and energy...more
As detailed previously, the Inflation Reduction Act (IRA) offers incentives to renewable energy development that takes place on certain properties that are affected by potential or confirmed contamination. Under the IRA, a...more
With an unprecedented momentum for the construction of new major projects linked to the shift away from fossil fuels and the development of a low-carbon economy, there is a real focus on construction law issues relevant to...more
On March 22, 2024, the Internal Revenue Service (IRS) issued additional guidance in respect of the “Energy Community Bonus” in Notice 2024-30 (the “Notice”), which provides two key updates: (1) offshore wind farms have two...more
The IRS on June 15, 2023, updated its energy community bonus guidance by issuing Notice 2023-45 and Notice 2023-47. The IRS also recently issued energy community bonus guidance in Notice 2023-29. (For a summary of Notice...more
On June 15, the Treasury Department (Treasury) and the Internal Revenue Service (IRS) issued Notice 2023-45 and Notice 2023-47. Notice 2023-45 clarifies requirements for a brownfield site energy community safe harbor provided...more
The Inflation Reduction Act (IRA) has been called the most aggressive climate investment ever undertaken by the U.S. Congress. With approximately $370 billion dollars in funding over the next 10 years, it is projected that...more
The Notice enables developers and investors to more easily determine the Energy Community status of projects. Key Points: ..The IRS and the Treasury Department have provided tables to assist in determining eligibility...more
The U.S. Department of the Treasury earlier today released Internal Revenue Service (IRS) Notice 2023-29, Energy Community Bonus Credit Amounts under the Inflation Reduction Act of 2022 (the Notice). The Notice indicates...more
On September 13, McDermott Partners Heather Cooper and Philip Tingle provided a detailed overview of the bonus tax credits under the Inflation Reduction Act of 2022 for projects satisfying low-income thresholds or built-in...more
Tucked away in the recesses of the Inflation Reduction Act is a provision that reminds everyone why they love Superfund so much. On its face, it’s simply an incentive for renewable energy development, giving an adder to the...more
New Jersey has been a leader in addressing the most significant environmental problems of the day. Decades ago, for example, four years before the enactment of CERCLA, the state’s Spill Compensation and Control Act prohibited...more
Building on the progress from the 2020 legislative session and the passage of the Virginia Clean Economy Act (VCEA), the Virginia General Assembly passed several important pieces of legislation affecting the solar and energy...more
Please join several Bricker & Eckler attorneys and Mike Foley, Director of Cuyahoga County's Department of Sustainability, for a discussion on the Brooklyn solar project, Ohio's first solar project to be constructed at a...more
On March 30, 2020, Shell announced that it is pulling out of the Lake Charles liquefied natural gas (“LNG”) project. Just a few weeks ago, it was reported that Shell’s 50% share of the quantities from the 16.45 MTPA project...more
On March 21, the Illinois Commerce Commission (“ICC”) publicly approved certain results from the Illinois Power Agency’s (“IPA”) Spring 2018 First Procurement of solar Renewable Energy Credits (“RECs”) from utility-scale...more
Harbor Environmental and Pulaski County, Arkansas jointly sponsored a November 15th seminar held in North Little Rock, Arkansas addressing a variety of Arkansas Brownfield issues...more