Since Congress first introduced the Corporate Transparency Act (“CTA”) and the beneficial ownership information reporting framework in January 2021, much of the focus has been on the specific reporting requirements that now...more
Recap- Last week, we considered several of the revenue proposals included in the Biden Administration’s 2022 Budget that are probably of interest – or should we say, “of concern”? – to the owners of closely held...more
On May 28, 2020, the IRS released proposed regulations under section 45Q (the “Proposed Regulations”) that had been widely anticipated since the expansion of the statute in 2018. The Proposed Regulations, which follow closely...more
In 2018, Congress revamped a tax credit available under section 45Q of the Internal Revenue Code (IRC) for companies that capture and sequester carbon dioxide (or other carbon oxides). On February 19, 2020, the Internal...more
The guidance issued on February 19 by the Internal Revenue Service is the type that the carbon capture and storage industry had sought, and will hopefully open up the market for investment by eliminating tax-related...more
Treasury and the IRS released initial guidance on the amended Section 45Q carbon oxide sequestration credit on February 19, 2020. Notice 2020-12 and Revenue Procedure 2020-12 provide guidance relating to the beginning of...more
In Private Letter Ruling 201946007, the Internal Revenue Service (IRS) allowed a tax equity investor to participate with a regulated utility in a tax equity financing arrangement for wind investments without being subject to...more
A Basic Guide to Renewable Energy Market and Energy Tax Basics - So What’s the Quick (But Not Dirty)? A Deficit Restoration Obligation (DRO) is an obligation by a partner in a partnership to restore a negative balance...more
Below are soundbites from panel discussions at Solar Power International in Las Vegas on September 11 and 12. The soundbites are organized by topic, rather than in chronological order, and were prepared without the benefit of...more
The Federal Energy Regulatory Commission issued a declaratory order on October 4, 2017, confirming that the purchase and sale of passive tax equity interests in project companies or their upstream owners does not require...more
The Internal Revenue Service (IRS) and the Federal Energy Regulatory Commission (FERC) have recently taken different approaches to issues raised by tax equity investors that have invested specifically in renewable energy...more
Federal Energy Regulatory Commission (“FERC”) has issued a declaratory order confirming that no approval under Section 203 of the Federal Power Act (“FPA”) is required in connection with the transfer or issuance of passive...more
Tax equity investments, and potentially other passive investments, in renewable energy just became that much easier to make. Today, in response to a petition for declaratory order filed in January 2017 by a coalition of...more
The National Renewable Energy Laboratory (NREL), a federally-owned laboratory that is funded through the U.S. Department of Energy, recently released a report titled Wind Energy Finance in the United States: Current Practice...more
The U.S. Department of Energy recently released its 2016 Wind Technologies Market Report. The 94-page report provides an in-depth review of the current health and direction of the wind industry, replete with data, analysis...more
Renewable Energy Focus - New solar, wind competitive leasing program to start for U.S. public lands - Renewable Energy World - Nov 15 - The Bureau of Land Management (BLM) has finalized a rule that...more
Last week’s “Financing Renewable Energy” tax credit conference, by Novogradac and Company, affirmed some market trends that we have seen in recent project finance deals. Perhaps most striking was the slow expansion of small...more
Below are selected insights from the Infocast Wind Finance conference last week in San Diego. First, as an indicator of the overall interest in wind finance, the conference had twice as many registrants as last year. The...more
3 ways renewable energy can grow in a 21st century grid - Greentech Media - Jan 6 - Some researchers claim there are limitations on solar PV’s growth because the variable renewable will depress wholesale prices...more
Revenue Procedure 2014-12 provides a safe harbor for historic tax credit (i.e., the Section 47 rehabilitation tax credit) partnership transactions. On January 8, the IRS issued a revised version of it that provides a...more
AWEA recently held its annual Wall Street conference. Below are selected sound bites from panelists speaking on September 10th about finance, the state of market for wind in the United States, and the health of the tax...more
Tax credit investors received a big boost from the U.S. Tax Court in Historic Boardwalk Hall LLC v. Commissioner, 136 TC No. 1 (January 3, 2011). The court upheld a partnership structured to generate historic rehabilitation...more