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California Air Resources Board-Commissioned Report Recommends Ways to Avoid Price Volatility in California’s Cap and Trade Market

Concerned about the potential for price volatility in its cap and trade program, the California Air Resources Board (CARB) commissioned the Market Simulation Group (MSG) at the University of California Energy Institute to...more

Energy Newsletter - June 2014

In This Issue: - Drafting Lessons From The "Deliver-Or-Pay Wars" Of The Southern Cone - Flaring Litigation in North Dakota is Capped - Shell Oil Co. v. United States -- A Divided Federal Circuit...more

Biofuels Law Alert: IRS Addresses the Identity of the "Producer" in Contract Manufacturing Arrangements

Last week the IRS released an internal memorandum addressing which of the parties to a contract manufacturing arrangement for biodiesel is treated as the “producer” of the biodiesel for certain federal tax purposes....more

United States to Participate in New World Trade Organization Trade Negotiation to Lower Tariffs on “Green Goods”

On March 21, the Obama Administration formally notified Congress that it intends to enter into a new plurilateral trade negotiation in the World Trade Organization (WTO) to eliminate tariffs on environmental goods. The...more

IRS Guidance for Historic Tax Credit Transactions: Partnership Flips and Inverted Leases

The IRS released Revenue Procedure 2014-12 on December 30. It is available below. It addresses the structuring of historic tax credit transactions (i.e., transactions involving rehabilitation tax credits provided for in...more

OCC Issues Interpretive Letter Concluding that Bank Investment in Company that Owns Renewable Energy Solar Project is Permissible

The OCC issued an interpretive letter (“Letter #1139”), in which the OCC concluded that a national bank (the “Bank”) could provide financing for a renewable energy solar project (the “Facility”) in which the financing was...more

PA Tax Law News -- December 2013

In This Issue: Fuel Taxes Increased to Solve Transportation Funding Shortfall; PA Supreme Court Upholds Rejection of Township Business Privilege Tax; Unclaimed Property - Challenge to Delaware’s Auditing Procedures;...more

Energy Law Alert: California Cap and Trade Auctions Upheld as Constitutional

The Sacramento Superior Court has upheld the constitutionality of California Air Resources Board's ("ARB") cap and trade auctions in the related cases California Chamber of Commerce v. ARB and Morning Star Packing Company v....more

California’s Cap-and-Trade Auction Is Not a Tax: Court Decides “Close Question”

In a twin set of wins for the state, two lawsuits challenging California’s flagship cap-and-trade auction system first implemented in November 2012 were rejected by Sacramento Superior Court Judge Timothy Frawley this...more

Passing the Buck: The Impact of Maryland's New Stormwater Fees on Commercial Leases

During its 2012 legislative session, the Maryland General Assembly passed HB 987, a bill which required that the ten separate EPA-licensed storm sewer system (“MS4”) jurisdictions in Maryland (Baltimore City and nine...more

Australia's Carbon Repeal – Unveiled

Draft legislation, published on 15 October 2013, sets out the Australian Government's plans to repeal the Clean Energy Act 2011 (Cth) and associated legislation (Carbon Acts) with effect from 1 July 2014. The impact, if...more

Washington Energy Update - August/September 2013

In This Issue: - DOE Announces Fourth Authorization for LNG Exports to Non-FTA Nations. Does This Mean Full Steam Ahead? - FERC Addresses ISO-NE Capacity Supply Obligations, Walks a Fine Line Between Generator...more

IRS Issues Additional Guidance on When Construction Begins for Purposes of Production Tax Credit, Investment Tax Credit

The Internal Revenue Service (IRS) has issued additional guidance relating to when construction begins with respect to wind and other qualified facilities for purposes of the production tax credit and investment tax credit. ...more

Energy Law Alert: IRS Releases Notice 2013-60 With Additional Guidance For PTC/ITC Qualification

Late in the day on September 24, the IRS released a formal Notice addressing the Begun Construction requirements to qualify for the Production Tax Credit and Investment Tax Credit. Notice 2013-60 clarifies an earlier Notice...more

Additional IRS Guidance on “Beginning of Construction” for ATRA 2012 Tax Credit Extensions

The IRS has released additional guidance (IRS Notice 2013-60) on satisfying the new “beginning of construction” requirement for the renewable energy production tax credit under Code Section 45 (PTC) and energy investment tax...more

IRS Clarifies Guidance on Beginning Construction of a Qualified Energy Facility for Production Tax Credit and Investment Tax...

A qualified facility is eligible to receive a renewable electricity production tax credit (PTC) or an energy investment tax credit (ITC) in lieu of the PTC if construction of the facility begins before January 1, 2014....more

IRS Notice 2013-60 Clarifies Rules on Beginning of Construction

On September 20, 2013, the U.S. Department of the Treasury (“Treasury”) released Notice 2013-60, which clarifies in important ways the eligibility rules applicable to the investment tax credit (“ITC”) and production tax...more

IRS Updates Renewable Energy Tax Credit Beginning of Construction Guidance

On September 20, 2013, the Internal Revenue Service (IRS) issued Notice 2013-60, which provides additional guidance that will help developers and purchasers of renewable energy facilities meet the beginning of construction...more

IRS Clarifies “Begun Construction” Guidance for PTC and ITC Eligibility (Notice 2013-29)

On September 20, 2013, the IRS released Notice 2013-60, which clarifies the IRS’s original guidance regarding the eligibility requirements for the production tax credit (PTC) and investment tax credit (ITC) for certain...more

IRS Provides Helpful Clarification to PTC “Start of Construction” Rules

On September 20th, the IRS in Notice 2013-60 clarified three critical issues in its guidance as to whether a wind project (or other type production tax credit (PTC) eligible project) is considered to have “started...more

Asia Pactific: Renewable Energy & Climate Change Group

In This Issue: - Renewable Energy Sector Overview – Asia Pacific - Japan’s renewable energy feed-in tariff regime - South African REIPP Programme – Lessons Learned To Date - Tariffs Kick-Start Japanese...more

Japan Continues to Offer Electric Vehicle Incentives

Many countries around the world are struggling to build a strong electric vehicle (EV) industry. The actual sales of EV’s are far below the target number of many governments....more

NJ Court Broadly Interprets Consumer Contract Protection Statute

NJ Court Broadly Interprets Consumer Contract Protection Statute by Christine M. Vanek on August 12, 2013 Discount restaurant coupons purchased online qualify as contracts under the state’s consumer protection statute,...more

Extension of NY-Sun Program May Benefit Hurricane Preparedness

In an earlier post, we discussed the opportunity for supply chain manufacturers as a result of the NY-Sun program. New York’s solar energy industry received an additional boost with the recent passage of the New York Solar...more

Watt’s New? Michigan Energy Newsletter - June 2013

In This Issue: - Huron County Seeks Clarification on Taxes - Court Rules on Cost Allocation for Transmission Upgrades - Amended Renewable Energy Plan Yields Rate Reductions - Solar Panels at GM Tech...more

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