Construction contracts in the energy sector involve unique challenges and risks, particularly with respect to bonds and mechanic’s liens.Continue Reading Navigating Construction Contracts in the Energy Sector – Insights from Sheppard Mullin’s Webinar Series
Green Hydrogen in the US: Insights from Sheppard Mullin’s Energy Team
Hydrogen is increasingly vital in the global energy transition.Continue Reading Green Hydrogen in the US: Insights from Sheppard Mullin’s Energy Team
Navigating the Solarscape: Our Handy Solar Tariffs Cheat Sheet
The solar industry is starting to get whiplash. Over the past year in particular, the industry has experienced a whirlwind of regulatory changes making solar tariffs some of the most complex tariffs in all of U.S. importing history. We should not expect the changes to lessen as the solar industry remains a focus for policymakers, industry stakeholders, and consumers. Given this frenetic pace (plus the upcoming June 28 deadline for public comments on the recent Section 301 duty increases), we provide this guide to current tariff and trade actions as a guide to help those in the industry keep afloat.Continue Reading Navigating the Solarscape: Our Handy Solar Tariffs Cheat Sheet
Claiming Inflation Reduction Act Tax Credits and Deductions on Your 2024 Return? Make Sure You Complied with the Prevailing Wage and Apprenticeship Requirements
Tax season is here. As a result, many companies may be seeking to claim the increased tax credits and deductions available under the Inflation Reduction Act (the “IRA”). As we discussed in previous posts you can read here and here, many of the IRA’s tax credits and deductions for various clean energy projects are available only to taxpayers whose projects complied with nuanced and complex prevailing wage and apprenticeship requirements (the “PWA Requirements”). These requirements must be met before a taxpayer files a return claiming credits and deductions under the IRA.Continue Reading Claiming Inflation Reduction Act Tax Credits and Deductions on Your 2024 Return? Make Sure You Complied with the Prevailing Wage and Apprenticeship Requirements
6 Key Considerations for Selling Carbon Pollution-Free Electricity to the Federal Government
In line with the goals set forth in the Federal Government’s Federal Sustainability Plan, the General Services Administration (“GSA”) recently issued a Request for Information (“RFI”) stating its intent to acquire approximately 2,700,000 MWh of carbon pollution-free (“CFE”)[1] retail electricity supply annually for a term of up to 10 years in the PJM Interconnection/Regional Transmission Operator (“PJM/RTO”)[2] region. The RFI sought information from companies capable of providing CFE, including Bundled CFE[3], to Federal Government agencies and facilities in the PJM region. The RFI noted that a solicitation could be released in the next couple of months and award(s) could be made as early as September 2024, with the first electricity flowing by mid-December 2024.Continue Reading 6 Key Considerations for Selling Carbon Pollution-Free Electricity to the Federal Government
California Climate Change Legislation, Policy and Regulation – 2023 in Review
As we enter 2024, we once again review the most significant legislation, policy changes and regulatory actions with respect to climate change taken by California in the past year. In contrast to 2022, which brought a revamp of California’s timeline to complete its transition to zero-emission energy sources and the finalization of a $54 billion climate funding package, the headline grabber in 2023 was the passage of three bills related to corporate emissions and accountability.Continue Reading California Climate Change Legislation, Policy and Regulation – 2023 in Review
New Bills Advance California’s Offshore Wind Strategy
With the recent Gulf Auction falling short of expectations and projects on the East Coast faltering, many have adopted a bearish stance on the U.S. offshore wind sector. However, California recently passed two new bills to support the state’s burgeoning offshore wind industry: the Offshore Wind Advancement Act (AB 3) and the California Offshore Wind Expediting Act (SB 286). These bills, which take effect January 1, 2024, have the potential to significantly impact offshore wind development in California.Continue Reading New Bills Advance California’s Offshore Wind Strategy
Beyond Borders: Global Corporate PPA Outlook
While 2022 saw record commitments to renewable generation by commercial and industrial customers in the U.S., agreements with C&I customers in 2023 were affected by federal investigations into tariff avoidance, storm responses, supply chain disruptions and importation issues. Nonetheless, the outlook for growth remains promising for 2024, as corporate purchasers continue to drive the U.S. renewable markets.Continue Reading Beyond Borders: Global Corporate PPA Outlook
Change is in the Air: Everything You Need to Know About California’s Sweeping New Climate Disclosure Laws
On October 7, 2023, California Governor Gavin Newsom signed into law two sweeping climate disclosure bills, Senate Bill 253 (“SB 253”), the Climate Corporate Data Accountability Act, and Senate Bill 261 (“SB 261”), the Climate-Related Risk Act. Taken together, SB 253 and SB 261 overlap the U.S. Securities and Exchange Commission’s proposed climate disclosure rule (the “SEC Proposed Rule”), and expand upon it in several significant ways. The SEC Proposed Rule addresses both greenhouse gas (“GHG”) emissions and climate risk, while the California measures separate the two, with SB 253 addressing GHG emissions, and SB 261 addressing climate risk.Continue Reading Change is in the Air: Everything You Need to Know About California’s Sweeping New Climate Disclosure Laws
Gulf of Mexico Offshore Auction Falls Short of Expectations
On August 29th, the Bureau of Ocean Energy Management (BOEM) held the first auction for offshore wind areas in the Gulf of Mexico. Sheppard Mullin’s preview of the auction can be accessed here. The auction concluded after just two rounds of bidding, with only the Lake Charles area off the coast of Louisiana being awarded. The two Texas areas available in the auction, Galveston I and II, received no bids.Continue Reading Gulf of Mexico Offshore Auction Falls Short of Expectations
Previewing the Gulf of Mexico Offshore Wind Lease Auction
On July 21, 2023, the Bureau of Ocean Energy Management (BOEM) issued a Final Sale Notice (FSN) for offshore wind leases covering three areas on the Outer Continental Shelf (OCS) of the Gulf of Mexico (GOM). The auction will include a 102,480-acre area off the coast of Lake Charles, Louisiana and two areas off the coast of Galveston, Texas totaling nearly 200,000 acres. On August 29th, up to fifteen qualified bidders will vie to become the first offshore wind leaseholders in this high-potential region.Continue Reading Previewing the Gulf of Mexico Offshore Wind Lease Auction