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Financial reporting considerations for renewable energy companies

The renewable energy industry features some unique accounting and reporting concepts. Accounting teams for renewable companies need to understand them to avoid surprises during due diligence. Here are a few of the more common issues that we encounter.

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INDUSTRY NEWS

 

Testing the country’s first utility-operated underground thermal energy network

A project in Framingham, MA, aims to reduce the amount of electricity needed to convert buildings from fossil fuels to electric heating and cooling. The $14 million project includes a one-mile loop of pipes that will connect to houses, apartments, commercial buildings, a college campus, and a fire station. Discover how the project can act as a blueprint for other projects across the country.

 

Grid upgrades to bring more offshore energy to New England

A project underway in New England will allow for the interconnection of offshore wind. The Cape Cod Solution will enhance reliability for customers, make the system more resilient to storms and other extreme weather, and help meet the region’s decarbonization goals—while supporting the electrification of the transportation and heating sectors. Understand the impact on New England.

 

Maine project on pace to establish first floating offshore wind farm in the US

The Bureau of Ocean Energy Management completed an environmental review that will allow a Gulf of Maine offshore wind research lease to move forward. The planned project features 12 offshore wind turbines installed on floating platforms that will produce 144 megawatts of electricity. Explore the potential of this evolving project.

 

New York funding to help increase clean energy industry workforce

New York state is providing $11.6 million to support those looking to develop skills in the emerging energy sector. Four new workforce training programs will incorporate services that include transportation assistance, childcare, stable housing, food, and more. See how this will help support the state’s renewable energy goals.

 

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