The Department of Treasury and the Internal Revenue Service released newly proposed regulations regarding the clean electricity production and investment tax credits....more
The United States Department of Energy’s Office of Energy Efficiency & Renewable Energy Building Technologies Office (“BTO”) released a Request for Information (“RFI”) to solicit feedback on a draft document titled: ...more
On December 22, 2023, the Department of Treasury and Internal Revenue Service (collectively, “IRS”) proposed new regulations for the Inflation Reduction Act’s (“IRA”) Hydrogen Production Tax Credit (“PTC”), otherwise known as...more
On December 22, 2023, the Department of the Treasury and the Internal Revenue Service (IRS) released a notice of proposed rulemaking and notice of public hearing containing proposed regulations (Proposed Regulations) with...more
The proposed regulations go beyond the use of the GREET model by requiring the use of “energy attribute certificates” (EACs) to prove eligibility for the credit under section 45V of the Internal Revenue Code (IRC). The use of...more
Good afternoon! This is Akin’s newsletter on climate change policy and regulatory developments, providing information on major climate policy headlines from the past few weeks and forthcoming climate-related events and...more
On April 27, 2023, the California Air Resources Board ("CARB") approved a first-in-the-nation regulation that limits the emission of greenhouse gases, criteria pollutants, and toxic air contaminants from locomotives in the...more
The Inflation Reduction Act (“IRA”) created new incentives for the generation of electricity from nuclear power plants, supplementing incentive provisions that are currently in place. The primary changes are (i) the adoption...more
On August 16, 2022 President Biden signed the Inflation Reduction Act of 2022 (the “IRA”) into law. The IRA includes a 15% corporate alternative minimum tax, a 1% excise tax on stock buybacks and a two-year extension of...more
Today, the President signed the Inflation Reduction Act (the “Act”), a broad bill that targets health care costs, taxes for large companies, overall deficit reduction, and climate change, into law. The law includes many...more
On July 27, 2022, Senator Joe Manchin and Senate Majority Leader Chuck Schumer reached an agreement on a budget reconciliation bill and released the “Inflation Reduction Act of 2022” (the “Act”). A significant part of the Act...more
The Inflation Reduction Act of 2022 (the Act) runs 725 pages and includes numerous energy tax provisions aimed at enhancing US energy security. The Act, if enacted, would extend and expand the renewable and alternative...more
In a surprising turn of events, late on July 27, 2022, Senators Manchin (D-WV) and Schumer (D-NY) released the Inflation Reduction Act of 2022. The Act, which runs 725 pages, includes numerous energy tax provisions aimed at...more
The Department of Energy has released a Notice of Intent/Request for Information describing and soliciting feedback on its proposed plan for implementing the Bipartisan Infrastructure Law’s $6 billion Civil Nuclear Credit...more
Faced with opposition from within his own party, President Biden last week unveiled a new, pared down framework for his “Build Back Better” agenda. Following release of the president’s framework, H.R. 5376 (the “Build Back...more
Infrastructure Investment and Jobs Act - As reported in our previous Washington Updates, months of negotiation and a great deal of compromise between the White House and bipartisan negotiators on Capitol Hill resulted in a...more
On Friday, February 26, the Biden Administration’s newly-resurrected Interagency Working Group on Social Cost of Greenhouse Gases (IWG) announced new values for three specific metrics that seek to monetize the environmental...more
Die europäische Kommission plant bis 2050 klimaneutral zu sein. Bis 2030 soll eine Reduktion der Emissionen von Treibhausgasen von mindestens 55% im Vergleich zu 1990 stattfinden. Die Taskforce on Scaling Voluntary Carbon...more
Trump Administration Approves Arctic National Wildlife Refuge for Land Leasing, Oil Drilling - "The Trump administration continues to roll back environmental protections and opening doors for the fossil fuel industry in...more
The New Jersey Board of Public Utilities (BPU) approved applications submitted by PSEG Nuclear LLC seeking subsidies of up to $300 million annually, in the form of zero emission credits (ZECs), for PSEG’s Hope Creek and Salem...more
In two related cases, Petitioners are asking the U.S. Supreme Court to strike down state generator subsidies that Petitioners argue distort competitive wholesale power markets that are under the exclusive jurisdiction of the...more
On September 27, 2018, the U.S. Court of Appeals for the Second Circuit (Second Circuit) affirmed a district court’s finding that New York’s Zero Emissions Credit (ZEC) program is not preempted by federal law. The Second...more
On September 27, 2018, the Second Circuit Court of Appeals issued its decision in Coalition for Competitive Electricity v. Zibelman, 2nd Cir. No. 17-2654, 2018 U.S. App. LEXIS 27605 (Sep. 27, 2018). ...more
As Carol Holahan discussed, the 7th Circuit last month affirmed the Illinois zero emission credit program. Now the 2nd Circuit has weighed in, agreeing with the 7th Circuit and affirming the similar New York State ZEC...more
Following up on our recent blog post regarding the Seventh Circuit’s decision to uphold Illinois’ nuclear subsidy program, two weeks later on September 27, 2018, the Second Circuit upheld a district court’s decision finding...more