Global Power Law & Policy – Page 28 – Legal and policy developments affecting the global power industry.

K&L Gates Blockchain Energizer – Volume 24

Mar 16 2018

By Buck Endemann, Ben Tejblum, and Daniel Cohen

There is a lot of buzz around blockchain technology and its potential to revolutionize a wide range of industries from finance and health care to real estate and supply chain management. Reports estimate that over $4.5 billion was invested in blockchain startups in 2017 alone, and many institutions and companies are forming partnerships to explore how blockchain ledgers and smart contracts can be deployed to manage and share data, create transactional efficiencies, and reduce costs.

While virtual currencies and blockchain technology in the financial services industry have been the subject of significant debate and discussion, blockchain applications that could transform the energy industry have received comparatively less attention. Every other week, the K&L Gates’ Blockchain Energizer will highlight emerging issues or stories relating to the use of blockchain technology in the energy space. To subscribe to the Blockchain Energizer newsletter, please click here.

IN THIS ISSUE

Chile’s National Energy Commission Adopting Blockchain to Improve Data Integrity of Energy Information
Electrify Raises $30 Million Through a Digital Token Sale; Will Expand into Southeast Asia
Pemex Announces Plans to Implement Blockchain for Its Supply Chain

To view more information on theses topics in Volume 24 of the Blockchain Energizer, click here.

Tax Credits for Storage After Solar or Wind?

Mar 09 2018

By Elizabeth Crouse, Elias Hinckley and William Holmes

On Friday, March 2, the Internal Revenue Service released Private Letter Ruling (“PLR”) 201809003. The PLR is not binding precedent, but it indicates that the IRS will permit a taxpayer to claim a Code Section 25D credit in respect of a residential battery installed after the solar panels to which it will be attached was installed. In the PLR, the IRS expressly states that it will treat the battery as property that “uses solar energy to generate electricity,” provided only solar energy is used to charge it.

The PLR concerns individuals claiming a credit for a residential system, but don’t stop reading. This outcome matters for C&I and utility scale projects also.

Event: Blockchain in Energy Forum 2018

Mar 07 2018

We invite you to join us for GTM Squared’s Blockchain in Energy Forum on March 7, 2018 live in New York City and available to stream online. Washington, D.C. associate and co-author of The Blockchain Energizer, Benjamin Tejblum, will be presenting on the implementation of blockchain and how to best navigate regulations and new business models. Additional topics to be covered will include a discussion on distributed ledger technologies, re-envisioning the future, enabling a transactive grid, and optimizing operations and identifying new opportunities.

Please note you must be a member of GTM Squared to participate.

K&L Gates Blockchain Energizer – Volume 23

Mar 02 2018

By Buck Endemann, Ben Tejblum, and Daniel Cohen

IN THIS ISSUE

Development of a Peer-to-Peer Energy Market Underway in the United Kingdom
Blockchain Continues to Gain Ground in the Oil and Gas Industry
Canadian Electric Utility Company Considering Implementing a Higher Energy Rate for Cryptocurrency Miners

To view more information on theses topics in Volume 23 of the Blockchain Energizer, click here.

K&L Gates Blockchain Energizer – Volume 22

Feb 16 2018

By Buck Endemann, Ben Tejblum, and Daniel Cohen

IN THIS ISSUE

European Utility Denies Renewable Energy Sale to Swiss Cryptocurrency Mining Unit Manufacturer
Wien Energie is Testing Blockchain-based End-Customer Energy Products
Energy Trading Company Vattenfall AB is Considering Deploying a Blockchain-based Trading Platform
Gas Natural Fenosa and Endesa Become First Companies to Use Blockchain for an Energy Trade in Spain

To view more information on theses topics in Volume 22 of the Blockchain Energizer, click here.

FERC Rule Seeks to Expand Energy Storage Participation in Wholesale Electricity Markets

Feb 16 2018

By William Keyser, Buck Endemann, Mike O’Neill and Jim Wrathall

On February 15, 2018 the Federal Energy Regulatory Commission (“FERC”) issued a Final Rule addressing participation of energy storage resources in electricity markets operated by Regional Transmission Organizations (“RTOs”) and Independent System Operators (“ISOs”). Largely adopting the proposal issued in November 2016, the Final Rule seeks to remove barriers for energy storage participation in wholesale capacity, energy, and ancillary services markets. The ultimate impact of FERC’s directive will be determined over the next few years as RTOs and ISOs implement the standards through their respective stakeholder processes, compliance filings, and (potentially) litigation. FERC deferred ruling on a companion proposal addressing participation of distributed energy resources (“DERs”) in wholesale markets. In the coming months, stakeholders should carefully consider these measures as there will continue to be opportunities to shape the final outcomes. Read More

Tax Credits for Energy Facilities Extended in New Budget Bill

Feb 14 2018

By Charles Purcell, Won-Han Cheng, Elizabeth Crouse, and Andrea Templeton

Congress recently enacted the Bipartisan Budget Act of 2018, which contained a number of extenders applicable to tax credits for energy facilities. In the case of PTC-eligible energy facilities that were not covered by the earlier extension applicable to wind and solar, the credit was extended to facilities where construction was commenced before January 1, 2018. This new rule applies to closed and open loop biomass, geothermal, landfill gas, trash, qualified hydropower, and marine and hydrokinetic facilities. In addition, the election to claim the ITC in lieu of the PTC on these facilities was also extended to facilities where construction was commenced before January 1, 2018.

The ITC provisions were amended to extend the “commence construction” dates for 30% credits for fiber optic solar, qualified fuel cell, ground based thermal heating and cooling systems, and qualified small wind energy property to be consistent with solar facilities (terminating at the end of 2021). The Act also extended the “commence construction” dates for 10% credits relating to qualified microturbine and combined heat and power system property (also terminating at the end of 2021). To be eligible for the extension, combined heat and power system property must be placed into service after December 31, 2016.

In addition, the credits for fiber optic solar, qualified fuel cell and qualified small wind project will step down over the next 5 years. It also appears that any such property not placed in service by the end of 2023 will not be eligible for any ITC.

Act on Electromobility and Alternative fuels Enters into Force

Feb 13 2018

By Dr. Karol Lasocki, Piotr Michajłow, and Paulina Barańska

The Act of 11 January 2018 on Electromobility and Alternative Fuels enters into force on 22 February this year. It establishes a system of incentives for the promotion of the use of vehicles powered by alternative fuels, mainly electricity, and also introduces mechanisms for initiating investments in the necessary infrastructure.

The Act introduces into Polish law the requirements of Directive 2014/94/EU of 22 October 2014 on the deployment of alternative fuels infrastructure. EU Member States are to ensure that by 31 December 2020, an appropriate number of publicly available recharging points have been created to allow electrically powered vehicles to move at least in urban/suburban agglomerations and other densely populated areas.

To read the full alert on K&L Gates HUB, click here.

Energy Storage: 2017 Year in Review

Feb 12 2018

This issue of EDGE Advisory: Energy Finance Report reviews energy storage developments in 2017, focusing on the key factors that will impact the sector going forward. This issues covers the following topics:

To view the full newsletter, please click here.

Highlights in this issue include:

Heading into 2018, we look forward to the industry’s accelerating growth, and to continuing to work closely with companies, investors, trade associations, and policy makers in addressing changes in market rules and maximizing the opportunities for energy storage across the electric power sector.

To download a printable PDF of the publication, open the link above and click on the fifth icon from the left in the magazine toolbar at the top of the page.

K&L Gates Blockchain Energizer – Volume 21

Feb 01 2018

By Buck B. Endemann and Ben Tejblum

IN THIS ISSUE

National Renewable Energy Laboratory to Test Blockchain Applications to Facilitate Peer-to-Peer Energy Trading
Blockchain Pilot Project in Estonia to Test Large Scale Tokenization of Energy Data on the Blockchain
IoT Developer Launches First Energy Blockchain Pilot

To view more information on theses topics in Volume 21 of the Blockchain Energizer, click here.