The State of Energy Storage: What You Need to Know
The U.S. Internal Revenue Service ("IRS") has released proposed regulations regarding the Clean Hydrogen Production Tax Credit introduced in the Inflation Reduction Act of 2022 ("IRA"). The proposed regulations provide more...more
Key Developments - Foley & Lardner LLP partner Vanessa Miller commented on a series of recent Michigan court decisions impacting the automotive supply chain in the Law360 article, “Biggest Transportation Decisions: Midyear...more
The U.S. Environmental Protection Agency (EPA) and U.S. Department of Energy (DOE) on June 21, 2024, released a $850 million Funding Opportunity Announcement (FOA) to reduce methane emissions from oil and natural gas...more
On May 29, 2024, the Treasury Department (the “Treasury”) and the Internal Revenue Service (the “Service”) issued proposed regulations (REG-119283-23) (the “proposed regulations”) regarding the clean electricity production...more
The application cycle for Treasury to award this round of credits will soon open, providing applicants an opportunity to receive significant funding for clean energy, industrial decarbonization and critical materials...more
The highly anticipated guidance for the second round of allocations (Round Two) under the US Treasury’s §48C Qualifying Advanced Energy Project Tax Credit program was released this week pursuant to IRS Notice 2024-36, with...more
Good afternoon! This is Akin’s newsletter on climate change policy and regulatory developments, providing information on major climate policy headlines from the past two weeks and forthcoming climate-related events and...more
On April 10, 2024, Department of Treasury and the Internal Revenue Service (collectively, “IRS”) issued further guidance on the “Provisional Emission Rate” or “PER” process for the Inflation Reduction Act’s (“IRA”) Hydrogen...more
Good afternoon! This is Akin’s newsletter on climate change policy and regulatory developments, providing information on major climate policy headlines from the past week and forthcoming climate-related events and hearings...more
On December 22, 2023, the Department of the Treasury and the Internal Revenue Service (IRS) released a notice of proposed rulemaking and notice of public hearing containing proposed regulations (Proposed Regulations) with...more
On December 22, 2023, the U.S. Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) issued a notice of proposed rulemaking (the Proposed Regulations) regarding the Clean Hydrogen Production credit...more
The IRS and the Treasury Department issued proposed regulations on December 26, 2023 (Proposed Regulations), providing guidance on the clean hydrogen production tax credit under Section 45V (Hydrogen PTC) and the investment...more
The proposed regulations go beyond the use of the GREET model by requiring the use of “energy attribute certificates” (EACs) to prove eligibility for the credit under section 45V of the Internal Revenue Code (IRC). The use of...more
Section 40B of the Internal Revenue Code of 1986 (the “Code”) enacted by the Inflation Reduction Act of 2022 (the “IRA”) provides credits for each gallon of sustainable aviation fuel (“SAF”) sold or used by a taxpayer before...more
The U.S. Department of the Treasury and IRS on Dec. 22, 2023, released proposed regulations regarding the production tax credit (PTC) for hydrogen under Section 45V of the Internal Revenue Code, as enacted by the Inflation...more
On December 15, 2023, IRS published Notice 2024-06, a brief but important guidance on Section 40B, the Inflation Reduction Act (“IRA”) tax credit for sustainable aviation fuel (“SAF”). The guidance establishes a safe harbor...more
National Climate Assessment + New Funding for Climate Resilience - The US Global Change Research Program released the Fifth National Climate Assessment, which provides authoritative information on the risks, impacts, and...more
Bipartisan Infrastructure Law & Inflation Reduction Act Opportunities - Visit our Energy Funding Matrix for a roundup of all of the various clean energy opportunities. We update the matrix on a biweekly basis and welcome...more
As the nation’s largest energy consumer, the U.S. federal government plans to curb greenhouse gas emissions across its expansive portfolio of more than 350,000 federal buildings. In a pioneering move, the Biden administration...more
Bipartisan Infrastructure Law & Inflation Reduction Act Opportunities - Visit our Energy Funding Matrix for a roundup of various clean energy opportunities. We update the matrix on a biweekly basis and welcome any...more
On May 31, 2023, the Department of Treasury (“Treasury”) and the Internal Revenue Service (“IRS”) released Notice 2023-44 (“Notice”) to provide additional guidance on Section 48C, a revised and expanded allocation-based...more
On May 31, 2023, the Internal Revenue Service (“IRS”) released Notice 2023-44 (the “Notice”), which provides additional information regarding the Qualifying Advanced Energy Project Credit Allocation Program under § 48C (e) of...more
As an update to our prior alert on this subject the Treasury Department recently released new guidance, which critically outlines the Department of Energy's (DOE) priorities and technical review criteria for the 48C(e)...more
On May 31, 2023, the U.S. Department of the Treasury's Internal Revenue Service (IRS) released additional guidance on the implementation and administration of Internal Revenue Code §48C—The Qualifying Advanced Energy Project...more
Demand for energy is expected to soar by mid-century as the state attempts to electrify everything from transportation to home-heating systems. To help get there, the California Independent System Operator recently proposed...more