Congress this week passed the Tax Increase Prevention Act of 2014, which extends a number of expired or expiring tax provisions through the end of 2014. The President is expected to sign the Act soon. The Act renews several energy-related tax provisions, including the production tax credit under Section 45 of the Internal Revenue Code (PTC) for certain renewable energy facilities. In the case of wind, geothermal, landfill gas, trash, marine, and hydrokinetic facilities and certain closed-loop biomass, open-loop biomass, and qualified hydropower facilities, a taxpayer will be eligible to claim the PTC if construction begins before January 1, 2015. The Act also extends Section 48(a)(5)(C), which allows a taxpayer to claim the investment tax credit in lieu of the PTC with respect to the facilities listed above if construction begins before January 1, 2015.
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Energy Tax Alert: Congress Extends Renewable Energy Credits
By Chris Heuer, Greg Jenner, Carl Lewis, Kevin Pearson | STOEL RIVES LLPSign up and get Breaking Energy news in your inbox.
We will never sell or share your information without your consent. See our privacy policy.This is the latest installment in our Energy Startup Series that gives executives at cutting-edge energy firms an opportunity to share insights and experiences about the energy industry, their careers and their companies. While working for the US Environmental Protection Agency (EPA), Olof Hansen was in charge of building public-private partnerships in waste minimization and pollution… Keep reading →
Renewable natural gas (RNG) is methane produced from biomass that is cleaned to pipeline quality standards and blended with fossil natural gas. RNG, also known as biomethane, is carbon-neutral and chemically identical to fossil natural gas allowing it to be blended without restriction. Renewable natural gas is produced from a variety of (mostly waste) resources… Keep reading →
The EPA has long promoted cellulosic ethanol as the future of biofuels, but technical challenges have kept production far below targets. A recent rule change allows RNG, renewable natural gas, to qualify as cellulosic biofuel even though RNG is not cellulosic, but this helps EPA appear to be meeting their goals. RNG growth has been… Keep reading →
Natural gas use is growing throughout the world as new drilling techniques open up vast shale and other tight resources. The result is low-cost gas flooding the market. The environmental advantages of natural gas over other fossil fuels have put it in a favored position as emissions regulations continue to tighten around the world. But conventional… Keep reading →
Denmark Plans To Join The 100 Club (100% Renewables, That Is)
By Smart Grid NewsDenmark has joined the club of European countries that have planned to become much more or completely reliant on renewable sources for their energy needs. The country plans to have 100% of its energy from renewable sources by 2050, and to eliminate fossil fuels in vehicles by that deadline too. Denmark already relies on wind turbines for… Keep reading →
DOE Offers All-In-One Application Tool For Small Businesses
By Lynn L. Bergeson | Bergeson & Campbell, P.C.DOE has developed a small business “All-in-one Application Tool” for small businesses looking for funds to advance clean energy technologies. The online tool provides a guide for potential applicants for the topics under the DOE Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs. Among the nine topics identified by SBIR is bioenergy, with particular focus on biomass conversion systems, coatings for metal combustors, and solid-liquid separations for algal systems.
DOE Releases Climate Plans
By Lynn L. Bergeson | Bergeson & Campbell, P.C.On October 31, 2014, the U.S. Department of Energy (DOE) released two plans related to climate change. The Strategic Sustainability Performance Plan and the Climate Change Adaptation Plan are intended to reduce greenhouse gas emissions and prepare for flooding, rising sea levels, and extreme temperatures/weather patterns. These plans come five years after the 2009 Executive Order on Environmental, Energy, and Economic Performance that set energy, climate, and environmental goals for government agencies. The release of the plans gave Energy Secretary Dr. Ernest Moniz an opportunity to outline how the use of clean energy resources, as part of the Strategic Sustainability Performance Plan, has been implemented within the Department. DOE has increased the number of buildings that achieved federal guiding principles for high performance and sustainable buildings. It has completed a biomass cogeneration facility in South Carolina and an 11.5 megawatt wind farm, both of which serve to reduce the use of non-renewable energy. DOE was also recognized as a 2014 GreenGov Presidential Award Winner for its work with the U.S. Department of Transportation (DOT) to produce a five percent reduction in DOT’s total fuel consumption, and a 20 percent increase in DOT’s use of alternative fuels.
Energy Department Releases Climate Plans on Fifth Anniversary of President Obama’s Sustainability Initiative
By U.S. Department of EnergyWASHINGTON – As a part of the President’s Climate Action Plan, the Department of Energy released plans for reducing greenhouse gas emissions and preparing for climate change impacts such as flooding, sea level rise, severe weather and temperature extremes. These Sustainability Plans and Climate Change Adaptation Plans coincide with the fifth anniversary of President Obama’s… Keep reading →
It appears investors were so eager to dip their toes in Brazil’s solar power market they were willing to compromise on total investment returns. The auctions held on Halloween resulted in the award of 890 MW of capacity. Prior to the Brazilian auctions, the world’s lowest unsubsidized solar contracts were reportedly found in Uruguay at… Keep reading →