Two 20-year power purchase agreements (PPAs) between DTE Electric and Pheasant Run Wind, LLC and Pheasant Run Wind II, LLC received ex parte approval from the Michigan Public Service Commission (MPSC) on May 15, 2013. ...more
In This Issue: Energy & Climate Debate; Congress; Administration; Department of Energy; Environmental Protection Agency; Department of Interior; Federal Energy Regulatory Commission; Department of Commerce; Department...more
The 2013 Alaska Legislature passed three significant pieces of legislation and appropriated hundreds of millions of dollars for projects that will support the energy industry before it adjourned in April, with a Republican...more
A glimpse at President Obama’s recently released 2013-2014 federal budget proposal reveals major steps in funding for energy projects. A sizeable $28.4 billion allocation has been set aside for The Department of Energy...more
This week’s Energy & Environment Update recaps the very busy past week for energy and environmental issues both on and off Capitol Hill. Senator Coons introduced the Master Limited Partnership Parity Act on Wednesday. ...more
In This Issue: Energy & Climate Debate; Congress; Administration; Department of Energy; Environmental Protection Agency; Department of Interior; Department of Treasury; Department of Agriculture; State Department;...more
The IRS recently released guidance in the form of an IRS Notice implementing a rule change under the American Taxpayer Relief Act of 2012 concerning the construction deadline that renewable energy facilities must meet to...more
A qualified facility is eligible to receive a renewable electricity production tax credit (PTC) or energy investment tax credit in lieu of the PTC if construction of the facility begins before January 1, 2014. Qualified...more
On April 25, 2013, the Internal Revenue Service updated guidance issued on April 15, 2013, that explained how to satisfy the new “begun construction” requirement for the renewable energy section 45 production tax credit (PTC)...more
According to research from Bloomberg New Energy Finance, worldwide investment in clean energy dropped to its lowest level in four years during the first three months of this year. Total investment, which includes renewables,...more
On April 15, 2013, the Internal Revenue Service (IRS) issued long-awaited guidance updating eligibility requirements for renewable project developers seeking to utilize the 2.3 cent/kWh Renewable Electricity Production Tax...more
The Internal Revenue Service (IRS) has issued important guidance to determine when construction begins with respect to a qualified facility for purposes of the production tax credit and the investment tax credit for certain...more
President Obama’s recently released budget proposal for the 2014 fiscal year contains energy-related tax provisions that include a permanent extension of the renewable energy production tax credit (PTC) and a provision making...more
Long-awaited guidance regarding eligibility for production or investment tax credits largely tracks guidance under the Section 1603 cash grant program....more
The IRS has issued guidance (Notice 2013-29) on satisfying the new “beginning of construction” requirement for the renewable energy production tax credit under Code Section 45 (PTC) and energy investment tax credit under Code...more
On April 15, 2013, the IRS released Notice 2013-29, which addresses the requirement that construction of a qualified facility must begin before January 1, 2014, in order to be eligible for the renewable electricity production...more
Prior to the enactment of the American Taxpayer Relief Act of 2012 (the "Act"), the production tax credit (the "PTC") had been scheduled to expire for wind projects that were not placed in service before January 1, 2013, and...more
The renewable electricity production tax credit and the energy investment tax credit currently offer taxpayers a tax credit for energy produced from qualified facilities. For the PTC, the tax credit covers a ten-year period....more
On April 15, 2013, the Internal Revenue Service issued anticipated guidance defining the new “beginning construction” milestone for Production Tax Credit and Investment Tax Credit eligible energy facilities....more
On April 15, 2013, the Internal Revenue Service ( IRS) issued much - anticipated guidance that will help developers of wind, solar, biomass and certain other renewable energy facilities qualify for federal renewable energy...more
On April 15, 2013, the IRS released Notice 2013-29 addressing the eligibility for certain alternative energy projects to qualify for the renewable electricity production tax credit (PTC) under section 45 of the Tax Code. This...more
On April 15, 2013, the Internal Revenue Service released Notice 2013-29 (Notice), which established guidelines and a safe harbor to determine when construction has begun on a “qualified facility” for purposes of the renewable...more
According to Tax Notes Today, the IRS discussed its plans to release guidance on applying the “begun construction” test for the production tax credit (“PTC”) at the American Bar Association Section of Taxation meeting in...more
In This Issue: Renewable Energy Focus - Biodiesel and wind tax incentives approved; U.S. Gauges Interest in New York Offshore Wind Projects; State panel approves offshore wind farm land survey; New York Renewables Push...more
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