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Elective pay election for energy tax credits: Final regulations released
The Department of the Treasury and the IRS on March 5 released final regulations to clarify which applicable entities are eligible to make an elective pay election. Gain insight on the background of the regulations, understand which entities are eligible, and see what you need to do to participate in the elective pay election.
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Maritime law from 1920 slowing offshore wind construction
The Merchant Marine Act of 1920 law requires goods shipped between US ports to be transported on vessels built in American shipyards, registered in the US, and crewed and owned by US citizens. This is slowing offshore wind construction, as the specialized ships needed to transport and install many wind turbine components are all foreign-based. See the creative solutions companies are using to expedite the process.
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While EVs are hitting targets, clean power is falling behind
According to a recent report from the Clean Investment Monitor, sales of EVs are on track to meet their goals as part of the Biden administration’s goal to cut carbon emissions in half by 2030. However, while solar and wind power are now cost-competitive with fossil fuels, they are falling behind as obstacles mount, including grid interconnection delays, siting and permitting issues, and supply chain challenges. Learn what companies are doing to catch up.
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Construction underway for New Hampshire’s largest utility-owned solar project
Unitil is developing a 4.9-MW solar project in Kingston, New Hampshire, which will deliver electricity directly into Unitil’s electric distribution system. Expected to be online in 2025, the project is estimated to generate approximately 9.7 million kWh of energy in its first year of service. See how the project will create employment opportunities, provide savings for ratepayers, and reduce carbon emissions.
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Innovations in thermal storage
The low cost of solar and wind power has led some entrepreneurs to create longer-term thermal storage options. Dozens of startups are now attempting to use surplus renewable electricity to heat up rocks and other materials with high thermal mass to store cheap clean energy for later use. From uses in the industrial sector to helping feed energy to the grid, the technology has serious potential to help the world decarbonize.
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