As we originally noted, the IRS guidance issued April 15 regarding the "start of construction" requirement for energy projects to qualify for PTC or ITC contained a "big surprise" regarding its definition of a binding contract. Unlike previous incentive programs, the guidance provided that contracts that limit damages to a specified amount, such as
tax credits
Projects & Money 2011
By Julia Pettit on
As we approach the beginning of a new year, financing options for energy projects (both conventional and renewable) under the current economic conditions continue to be a challenge and a focal point for the energy industry. In order to gear up for financing opportunities in 2011, I, along with my colleagues Marcus Wood, Graham Noyes…
ODOE Issues Permanent Biomass Producer/Collector Tax Credit Rules
By Nikki Dobay on
Yesterday, the Oregon Department of Energy issued is final administrative rules for the biomass producer /collector tax credit. The new permanent rules can be viewed at the following link: http://oregon.gov/ENERGY/RENEW/Biomass/docs/BPC_PermRules.pdf/oregon.gov/ENERGY/RENEW/Biomass/docs/BPC_PermRules.pdf
The Wind Energy Promotion Act: Turbo Charging the Renewable Energy Production Tax Credit
By Katherine A. Roek on
U.S. Representatives Collin Peterson (MN) and Tim Walz (MN) introduced the Wind Energy Promotion Act (WEPA) last month. If WEPA becomes federal law, the Renewable Energy Production Tax Credit (PTC) promises to become an even more potent driver for wind power project development. Under current law, the PTC may only be used to shelter passive…
Treasury, Energy Announce More than $3 Billion in Recovery Act Funds for Renewable Energy Projects
By Adam C Walters on
Today, the U.S. Department of the Treasury (the "Treasury") and the U.S. Department of Energy (the "DOE") announced an estimated $3 billion for the development of renewable energy projects around the country. Funded through the American Recovery and Reinvestment Act ("ARRA"), the program will provide direct payments in lieu of tax credits in support of…