Sens. Jeff Bingaman (D-NM) and Sam Brownback (R-KS), with Sens. Byron Dorgan (D-ND), Susan Collins (R-ME), Tom Udall (D-NM), Mark Udall (D-CO) and others joining, announced today that they will introduce a stand-alone Renewable Electricity Standard (RES) bill. The bill will require sellers of electricity to obtain the following milestones in adding renewable energy resources … Continue Reading
On Friday, the US Department of Energy ("DOE") announved a $15 million funding opportunity for geothermal energy research and development projects that: Address the environmental risk factors associated with heat recovery from the earth’s subsurface (earthquakes, water consumption and pollution); Add innovative methods for extracting heat from geotlogic formations, particularly permeable sedimentary formations; and Reduce financial … Continue Reading
On August 12, 2010, Energy Secretary Steven Chu announced a new loan guarantee solicitation for renewable energy manufacturing projects. The Commercial Technology Renewable Energy Manufacturing Projects solicitation (the "Solicitation") is supported by the American Recovery and Reinvestment Act (the "Recovery Act") through Section 1705 of the Loan Guarantee Program and is focused primarily on providing new … Continue Reading
On June 30, 2010, the U.S. Department of Energy ("DOE") launched its Technology Commercialization Portal (the "Portal"). The Portal is an online resource that provides a mechanism for investors, entrepreneurs and companies to identify new technologies coming out of DOE laboratories and other participating research institutions. Relevant technologies include: Advanced Materials Biomass and Biofuels Building Energy Efficiency Electricity Transmission and … Continue Reading
The U.S. Treasury Department today released on its website additional guidance regarding the "begin construction" requirement for qualifying for the 30% ARRA cash grant. To qualify for the grant, a project either must be placed in service in 2009 or 2010 or, if construction begins on or before December 31, 2010, must be placed in … Continue Reading
U.S. Energy Secretary Steven Chu recently announced conditional commitments to provide loan guarantees in connection with two geothermal projects located in Oregon and Nevada. Specifically, on June 10, 2010, Secretary Chu announced that the Department of Energy offered a $102 million conditional commitment for a loan guarantee to U.S. Geothermal, Inc. to construct a 22 megawatt geothermal … Continue Reading
The Washington State Department of Commerce (formerly the Department of Community, Trade and Economic Development or CTED) has announced that it is attempting to revise Washington’s comprehensive energy plan (the “State Energy Strategy”). The State Energy Strategy was last revised in 2003, and it does not serve current energy realities and forecasts. Therefore, the Washington State … Continue Reading
The U.S. Department of Energy (“DOE”) today announced up to $20 million for research, development, and demonstration of cutting-edge geothermal technologies. DOE want projects that demonstrate the technical and economic feasibility of certain non-conventional geothermal energy technologies, such as low-temperature fluids, geothermal fluids recovered from oil and gas wells, and highly pressurized geothermal fluids. Specifically, the funds … Continue Reading
On Thursday March 11, 2010, the California Public Utility Commission (the "CPUC") created a market for tradable renewable energy credits ("TRECs") in the state. That’s big news. In its 149-page decision, the CPUC stated that investor-owned utilities ("IOUs"), energy service providers, and community choice aggregators may now use TRECs to comply with California’s ambitious renewable … Continue Reading
Proposed legislation in the Senate would greatly limit the effectiveness of the grant in lieu of tax credits for renewable energy projects under section 1603 of the American Recovery and Reinvestment Act. The section 1603 grant currently applies to renewable energy projects, such as wind, solar, geothermal and biomass, that are placed in service before … Continue Reading
Stoel Rives would like to congratulate REC Silicon and SolarWorld on their awards of tax credits by the IRS and DOE. These two companies, combined, received over 10 percent of all the tax credits awarded nationwide under section 48C of the tax code. On Friday, January 8, the Department of Energy awarded to 183 companies … Continue Reading
On January 14, the Geothermal Energy Association will host a one-day Geothermal Energy Finance Forum in New York. Almost 30 speakers are confirmed for the Forum, including heavy hitters from investment groups and banks, geothermal energy developers, and the DOE and Treasury. Senate Majority Leader Harry Reid (D-NV) will deliver the keynote address. My colleague, John McKinsey, will … Continue Reading
The California Public Utilities Commission ("CPUC") issued a proposed decision on December 23, 2009 that would, if adopted, allow California investor-owned utilities, energy service providers, and community choice aggregators to purchase renewable energy credits alone, without the associated energy (sometimes referred to as "unbundled renewable energy credits ("RECs)" or "tradable RECs"), to satisfy their obligations … Continue Reading
On December 2, House Ways & Means Chairman Rangel and Ranking Member Camp introduced a tax technical corrections bill (H.R. 4169). We will likely see an identical version introduced in the Senate very soon. Included among the technicals are changes to the Grant in Lieu of ITC under section 1603 of ARRA. The most … Continue Reading
As a proud Exhibit Hall sponsor of E3, the Midwest’s premier energy, economic and environmental conference, Stoel Rives LLP would like to encourage you to attend this annual event. Hosted by the University of Minnesota’s Initiative for Renewable Energy and the Environment, E3 will focus this year on the intersection of innovative technologies and policies, … Continue Reading
The State of Minnesota’s Office of Energy Security (OES) is requesting proposals from organizations that are engaged in or will engage in the manufacture of renewable energy systems or fuels, energy storage systems, geothermal energy systems for heating and cooling, components of these systems, or equipment for the manufacture of these systems or components. The … Continue Reading
Seeing how Stoel Rives is a Silver Sponsor of the Geothermal Energy Expo, held in Reno until October 7, 2009, it appears timely to talk about some geothermal energy news (click here for conference details, come by and see us at booth #520). On October 2, 2009, the U.S. Department of Energy (DOE) announced the … Continue Reading
In an earlier blog, my colleagues, Debra Frimerman and Janet Jacobs reported about the Rural Energy for America Program (“REAP”), in general and specifically in regards to small wind projects. REAP is a Department of Agriculture (“USDA”) program that provides grants and loan guarantees to agricultural producers and rural small businesses to purchase renewable energy systems, … Continue Reading
The University of Minnesota’s annual conference on Energy, Economics and the Environment – E3 – will be held in St. Paul on November 17. Hosted annually by the University of Minnesota’s Initiative for Renewable Energy and the Environment (IREE), this year’s conference will explore current technologies, environmental benefits and market opportunities in renewable energy. Stoel … Continue Reading
The U.S. Department of Energy is hosting a free webinar on "How to Build a Strong Application" for the DOE Loan Guarantee Program on Tuesday, September 8, 2009 from 1:00 PM – 2:00 PM EST. The webinar is intended to explain the loan guarantee program and help lenders and applicants navigate the application process. DOE will also be … Continue Reading
Treasury Secretary Tim Geithner and Energy Secretary Steven Chu announced the first awards of cash grants in lieu of the investment tax credit (ITC) today. The total award value was over $502 million. Recipients include projects in Colorado, Connecticut, Maine, Minnesota, New York, Oregon, Pennsylvania and Texas. Click here for a detailed list of the awards … Continue Reading
From my colleague Adam Walters: On August 20 the Australian government announced the passage of a bill quadrupling its Renewable Energy Target (RET) to ensure that 20% (approximately 45,000 GWh) of Australia’s electricity is generated from renewable energy sources by 2020. How does Australia’s RET Scheme Work? The RET scheme is an expansion … Continue Reading
