Tax Environmental

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IRS Revises Recent Begin Construction Guidance

On May 18, 2016, the Internal Revenue Service (IRS) revised Notice 2016-31 (Notice), its recent guidance on meeting the beginning of construction requirements for wind and other qualified facilities (including biomass,...more

Renewable Energy Tax Credits: Recent IRS Notice Favorable to the Renewable Energy Industry

On May 5, 2016, the IRS released new guidance regarding the renewable energy production tax credit (“PTC”) and energy investment tax credit (“ITC”) which most in the renewable energy industry will find favorable....more

Renewable Energy Tax Credits: Recent IRS Notice Favorable to the Renewable Energy Industry

On May 5, 2016, the IRS released new guidance regarding the renewable energy production tax credit (“PTC”) and energy investment tax credit (“ITC”) which most in the renewable energy industry will find favorable. ...more

California Environmental Law & Policy Update - May 2016 #2

Environmental and Policy Focus - Some emergency drought rules might be eased - Los Angeles Times - May 9 - Governor Jerry Brown and the State Water Resources Control Board (SWRCB) on Monday laid out a revised...more

IRS Issues Guidance on Beginning of Construction Rules for Renewable Projects

On May 5, 2016, the Internal Revenue Service (IRS) issued Notice 2016-31, providing guidance on meeting the beginning of construction requirements for wind and other qualified facilities (including biomass, geothermal,...more

IRS Issues Additional Guidance on “Begun Construction” Requirement for Wind Energy Credits

Latest guidance extends “continuity safe harbor” to four years and includes other taxpayer-friendly modifications and clarifications to existing guidance. On May 5, 2016, the Internal Revenue Service (IRS) issued...more

"IRS Guidance Clarifies 'Begun Construction' Standard for Renewable Electricity Production Credit Property"

The Internal Revenue Service (IRS) has released welcome new guidance with respect to renewable electricity production and energy investment tax credits. A notice issued on May 5, 2016, reflects changes to the production tax...more

Key Developments in The Photovoltaic Sector in Italy

In Depth - In 2015, solar photovoltaic (PV) systems in Italy generated 24,676 GWh of electricity, representing 9.1 per cent of Italy’s domestic electricity production and 7.8 per cent of the country’s overall...more

After Extension, IRS Clarifies "Begun Construction" Guidance for PTCs

Following last year's extension of the investment tax credit for qualifying projects for which construction begins prior to January 1, 2020, and of the production tax credit (PTC) with respect to certain facilities the...more

IRS Issues New Notice Extending Beginning of Construction Safe Harbor

On May 5, 2016, the IRS issued Notice 2016-31 (the “Notice”) which revises previous guidance on satisfying the “beginning of construction” test in order to take advantage of the section 45 renewable electricity production tax...more

IRS Updates Beginning of Construction Guidance for Renewable Energy Tax Credits Extended by PATH Act

On May 5, 2016, the Internal Revenue Service (IRS) issued Notice 2016-31, which updates prior guidance regarding the beginning of construction requirement for IRC sections 45 and 48 renewable energy tax credits following...more

Climate change Regulation Starts to Take Shape in Washington State

In 2015, the Washington Legislature failed to act on Governor Jay Inslee’s cap-and-trade proposal to limit the greenhouse gas emissions that cause climate change. Since then, all branches of Washington State government, as...more

Court of Appeal Turns a Careful Eye Toward Challenges to California’s Cap-and-Trade Auction System

A California Court of Appeal signaled it is moving closer to making what could be a far-reaching decision in the consolidated cases of California Chamber of Commerce v. California Air Resources Board (Case No. C075930) and...more

Can Solar Reboot Your Coal-Fired Plant Site?

The future of coal-fired plants is not bright. With regulations weighing on them, many plant operators are powering down and asking themselves what’s next for their sites. Solar offers viable options for reusing a plant site....more

Six Biofuel Trade Associations Write Congress To Extend Advanced Biofuel Tax Credits

On April 5, 2016, the biofuel trade associations Advanced Biofuels Business Council, Algae Biomass Organization, Biotechnology Innovation Organization (BIO), Growth Energy, National Biodiesel Board, and Renewable Fuels...more

Iowa Renewable Chemical Production Tax Credit Signed Into Law

On April 6, 2016, Iowa Governor Terry Branstad signed Senate File 2300, creating a five cent tax credit, per pound of renewable chemicals produced from biomass feedstock between 2017 and 2026. Spokesman for Governor, Ben...more

Short-Term Reauthorization of FAA Programs Potentially Paves the Way For Omitted Energy Credit Extenders

As discussed in our post on March 16, the Congressional extension of the Production Tax Credit (PTC) under Internal Revenue Code (IRC) Section 45 and the Investment Tax Credit (ITC) under IRC Section 48 in December 2015...more

Trade & Manufacturing - April 2016

President’s Trip to Cuba Accompanied by Expanded Treasury and Commerce Regulations - On March 20, President Obama arrived in Cuba for an historic visit, marking a significant step in the Obama Administration’s efforts to...more

New York Legislative Session Update - Final budget agreement reached

Labor policy - Minimum wage - The minimum wage proposal included in the budget will increase the minimum wage at different schedules, and to different maximum wage rates, depending on the region of the state. For...more

Energy & Environment Update - March 2016 #3

Energy & Climate Debate: The Senate and the House of Representatives are both on Spring Recess, with the Senate returning on April 4 and the House scheduled to return on April 12. Before breaking for recess, the...more

Real Estate and Land Use - March 2016

A Rare Win for Former Redevelopment Agencies—State Collection Procedures Ruled Unconstitutional - City of Bellflower v. Michael Cohen, Director of the Department of Finance (245 Cal. App. 4th 438) - Why It Matters:...more

Navigant’s Consulting’s Report on Residential Solar Misconstrues Value of Tax Attributes

Navigant Consulting on February 19 submitted a report, Solar Project Return Analysis for Third Party Owned Solar Systems, to the Arizona Public Service (APS). The thesis of the report is that residential solar developers are...more

Paris Energy Series No.10: The Paris Agreement on Climate Change: Beware the Shield?

Arbitral Implications for the Oil and Gas Sector - On 12 December 2015, the Paris Agreement (or the "Agreement") on climate change was signed by 195 States and the EU, provoking scenes of euphoria among the delegates...more

Budget Announcements: CRC Energy Efficiency Scheme to be Abolished and Climate Change Levy To Be Raised

It has been announced in today’s Budget that the CRC Energy Efficiency Scheme (CRC) will be abolished from 2019 and the Climate Change Levy (CCL) will be raised to compensate. The announcement comes following a...more

President Obama Signs Consolidated Appropriations Act

Renewable Energy Industry Seeks Additional Energy Credit Clarifications - On December 18, 2015, President Barack Obama signed into law the Consolidated Appropriations Act, 2016 (H.R. 2029) (the Act). The Act includes...more

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