The Green Hydrogen Economy is coming to California! 2023 is set to be a banner year for green hydrogen project development in California thanks to growing government commitment (see a brief timeline of key investments in 2022 below) and increasing demand.
Tony Toranto is a partner in the Real Estate, Corporate and Finance Practice Groups in the firm's San Diego (Del Mar) and San Francisco offices. He is a Leader of the firm's Energy, Infrastructure and Project Finance Team.
On November 15th, 2021, President Biden signed the highly anticipated $1.2 trillion infrastructure bill. Among other infrastructure-related incentives, the bill includes billions in funding to help fight climate change and support clean energy technologies. Specifically, the bill allocates approximately (1) $65 billion for power infrastructure, of which nearly $29 billion is devoted to bolstering the electric grid (including transmission), (2) $47.2 billion to address critical cyber and climate resilience and (3) $7.5 billion to build out a national network of electric charging infrastructure. These incentives are critical for facilitating broader proliferation of renewable energy projects and the transmission assets needed to carry their output to load centers, which is expected to help the nation achieve stated climate change goals.
Continue Reading Comprehensive $1.2 Trillion Infrastructure Bill to Provide Critical Support for Clean Energy
As Congress was completing final negotiations of the stimulus package dealing with the public health and economic impacts of the coronavirus pandemic, several key energy provisions made their way into the 5593-page omnibus spending bill passed by the House and Senate on December 21, 2020, particularly much needed extensions of several renewable energy and energy efficiency tax incentives. …
Continue Reading Congress Extends Renewable Energy Tax Credits in 2021 Omnibus Spending Bill