Tag:Energy Transition

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WELCOME TO THE TAX CREDIT REVOLUTION: NEW OPPORTUNITIES FOR THE ENERGY INDUSTRY IN THE INFLATION REDUCTION ACT
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The Energizer – Volume 104

WELCOME TO THE TAX CREDIT REVOLUTION: NEW OPPORTUNITIES FOR THE ENERGY INDUSTRY IN THE INFLATION REDUCTION ACT

By: Elizabeth C. CrouseElias B. HinckleyMary Burke BakerLaurie B. Purpuro

On 16 August 2022, President Joe Biden signed the Inflation Reduction Act of 2022 (IRA). While not as expansive as the Build Back Better Act, the IRA has the potential to dramatically accelerate the energy transition in the United States. Features of the IRA include extensions and tweaks of several popular credits for renewable electricity, alternative fuel vehicles, and carbon capture, as well as numerous new renewable energy and fuels credits and a fundamental pivot after 2024 to renewable electricity credits based on greenhouse gas emissions of generation technology. In addition, new credits for manufacturing and recycling related to the renewable energy sector may help drive increased investment in American manufacturing. Further, the new direct pay and transferability techniques create opportunities for new financing structures and stakeholders. 

To help our clients understand and benefit from these new tax credits, we have prepared a high-level summary for several key technologies, primarily in a commercial context.

The Energizer – Volume 104

By: Buck B. EndemannMolly K. BarkerMatthew P. ClarkNathan C. HoweNatalie J. ReidMaeve C. TibbettsDavid Wang

There is a lot of buzz around clean technology, distributed energy resources (DERs), microgrids, and other technological innovations in the renewable energy and clean transport industries, and how these developments can contribute to solving longstanding environmental justice issues. As these innovations develop, energy markets will undergo substantial changes to which consumers and industry participants alike will need to adapt and leverage. Every other week, K&L Gates’ The Energizer will highlight emerging issues or stories relating to the use of DERs, energy storage, emerging technologies, hydrogen, and other innovations driving the energy industry forward. To subscribe to The Energizer newsletter, please click here.

IN THIS ISSUE

  • Federal Highway Administration Proposes Minimum Standards and Requirements for Federally-Funded Electric Vehicle Charging Infrastructure
  • Department of Energy Offers Funding to Combat Climate Change Impacts to Grid System
  • Colorado’s Transition from Coal is Several Years Ahead of Schedule

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