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Tax Credits Offshore Wind Energy Sector

Allen Matkins

Renewable Energy Update 4.08.24

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The California Independent System Operator (CAISO) is proposing $6.1 billion in transmission projects, primarily to help deliver offshore wind to customers, according to a draft transmission plan released on April 1....more

Holland & Knight LLP

IRS Updates and Expands Energy Community Bonus Tax Credit Guidance

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The IRS released additional guidance on March 22, 2024, in the form of Notice 2024-30 (Notice) regarding the energy community bonus credit under Sections 45, 48, 45Y and 48E of the Internal Revenue Code, which also is...more

Allen Matkins

Renewable Energy Update 3.21.24

Allen Matkins on

The first commercial-scale offshore wind farm in the United States is officially open, a long-awaited moment that helps pave the way for a succession of large wind farms. Danish wind energy developer Ørsted and the utility...more

K&L Gates LLP

Recent Treasury Proposed Regulations' Application to Qualified Offshore Wind Properties

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On 17 November 2023, the US Department of the Treasury (Treasury Department) and Internal Revenue Service (IRS) issued proposed regulations (Proposed Regulations) updating rules for the investment tax credit (ITC) under Code1...more

Allen Matkins

Renewable Energy Update 11.02.23

Allen Matkins on

President Joe Biden announced Monday a $1.3 billion federal investment to build three new interstate power lines in an effort to upgrade the nation’s outdated electric grid and transition to clean energy....more

Latham & Watkins LLP

IRS Clarifies Rules for Energy Community Bonus Tax Credits

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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

K&L Gates LLP

Carbon Quarterly – Special Edition

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Carbon Quarterly is a newsletter covering developments in carbon policy, law, and innovation. No matter your views on climate change policy, there is no avoiding an increasing focus on carbon regulation, resiliency planning,...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Inflation Reduction Act of 2022: Energy/Climate Provisions

United States Senate negotiators reached an agreement on July 27th on the Inflation Reduction Act of 2022 (“IRA”). The 725-page bill would use fiscal year 2021 reconciliation instructions to raise revenue in order to fund...more

Vinson & Elkins LLP

[Webinar] Recent Developments in U.S. Offshore Wind - August 16th, 12:00 pm - 1:00 pm CT

Vinson & Elkins LLP on

In this presentation, panelists will discuss recent developments in the U.S. offshore wind industry including recent progress and projects in the pipeline, challenges to development of U.S. offshore wind projects, key...more

Vinson & Elkins LLP

[Webinar] Recent Developments in U.S. Offshore Wind Energy - March 4th, 12:00 pm - 1:00 pm CT

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The United States has tremendous offshore wind energy resource potential with the ability to provide thousands of highly-skilled jobs and large amounts of renewable energy in close proximity to many of the country’s largest...more

Pillsbury Winthrop Shaw Pittman LLP

Tax Extenders Included in the Stimulus Bill Poised to Provide a Boost to Renewables

After a week of uncertainty, on Sunday night, President Trump signed the $900 billion stimulus deal and $1.4 trillion government funding bill that was passed by Congress early last week. The legislation includes many...more

Latham & Watkins LLP

COVID-19 Tax Relief Package Extends Renewable Power and Carbon Capture Tax Credits

Latham & Watkins LLP on

Congress extends tax credits for certain renewables, and expands tax credits for offshore wind and waste energy recovery. Key Points: ..Production tax credits for onshore and offshore wind projects are extended at a 60%...more

Holland & Knight LLP

Holland & Knight's Energy and Natural Resources Quarterly Newsletter: Summer 2020

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This newsletter provides a look around the corner, highlighting top issues and emerging opportunities for the private sector. This edition covers, among other relevant topics, a number of recent U.S. political developments...more

Foley & Lardner LLP

Production Tax Credit Extended for Renewable Projects Beginning Construction in 2020

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On December 20, 2019, the President signed the Taxpayer Certainty and Disaster Tax Relief Act of 2019 (the “Act”), which extends the current production tax credit (PTC) for wind for an additional year. The Act extends the...more

Eversheds Sutherland (US) LLP

Congress unveils energy tax extenders

Congress is moving towards passing The Taxpayer Certainty and Disaster Relief Act of 2019 (Extenders Bill). If enacted, the Extenders Bill would extend certain tax credits for the renewable energy and alternative fuels...more

Bracewell LLP

From Sunrise to Sunset: Phasing-Out the Renewable Energy Tax Credits

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While corporate tax reform and reduced tax rates were the hallmark of sweeping 2017 legislation (the Tax Cuts and Jobs Act, or TCJA), and thus the focus of the media and tax professionals, the renewables industry was largely...more

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