In the wake of increasing inflation and as a means of codifying several of the Biden administration’s legislative priorities, the Senate passed the $750 billion Inflation Reduction Act on August 7, 2022 (the “Act”), by a 51-50 party-line vote. The Act, which is comprised of sweeping healthcare, energy, and tax measures, was approved by the House of Representatives on August 12, 2022, and signed into law by President Biden on August 16, 2022, creating a significant number of renewable energy sector benefits.

Continue Reading The Inflation Reduction Act: Green Energy Benefits

Direct pay proposals contained in the proposed Build Back Better Act promise to establish a system that would allow renewable energy developers to elect to receive ITC and PTC tax credits as a refundable credit. This would allow developers, who, under the current system, usually cannot efficiently utilize the non-refundable ITC and PTC credits due to not having sufficient tax liability to offset all of the otherwise available credits. This blog has covered the direct pay proposal in greater detail here.

Continue Reading Direct Pay: A Conversation with Shannon Maher Bañaga, Spokesperson, The Partnership for Clean Energy Investment

In order to keep pace with the federal government’s ambitious goal of permitting the production of at least twenty-five (25) gigawatts of renewable energy through projects placed on public land by 2025, the Department of the Interior (the “DOI”) recently announced several policy changes to ensure developing renewable projects on public land is attractive and affordable for third-party developers and investors.

Continue Reading Federal Government Hoping to Increase Placement of Renewable Energy Projects on Public Land

Recently, there has been an uptick in Environmental, Social, and Governance (“ESG”) factors being considered and incorporated into commercial real estate transactions. As the focus on mitigating climate change has risen, the commercial real estate industry has seen an increase in green buildings and clean energy infrastructure. The desire to incorporate ESG factors in the industry has even trickled down into commercial real estate leases. Leases, which include various provisions to promote energy-efficiency and environmental sustainability, are often referred to as “green leases.” Green leases can be tailored to meet landlord and tenant requirements, as well as building specific needs. Here are some common ways landlords and tenants can incorporate green leasing provisions into commercial real estate leases.
Continue Reading Incorporating Environmental Sustainability Concepts into Commercial Real Estate Leases

At the beginning stages of a solar project, developers must be aware of oil and gas operations on or near the project area. However, operations that occur near but not directly on a site plan are often overlooked. If overlooked, these oil and gas operations can cause significant delays and costs when developing and financing a new project. However, some initial research and due diligence at the beginning of a greenfield development project can usually protect the project from the types of issues and costs associated with oil and gas operations located near but not directly on the site plan, which will allow the project to stay on schedule and budget.
Continue Reading The Implications of Drilling Units Created by Pooling on Solar Development

Renewable energy accounted for 11% of all energy generated in Illinois last year. That may sound low at first glance, but that percentage ranks Illinois second in the Midwest for installed renewable energy power and fifth in the nation for installed wind power with almost 4,000 MW of wind and 60 MW of solar. Nonetheless, the State of Illinois needs to increase the pace of renewable development and generation if it wants to maintain its reputation as a renewable energy leader in the U.S.  The State took steps last week to do just that.  On Wednesday, September 15, Illinois Governor J.B. Pritzker signed SB 2408, known as the Climate and Equitable Jobs Act (“Act”), establishing one of the most comprehensive state-level renewable energy initiatives to date. The Act’s highlights include $580 million a year for wind and solar development to increase Illinois’ renewable energy standard to 40% by 2030 and 50% by 2045.

Continue Reading New Illinois Climate and Equitable Jobs Act Adds Fuel to Renewable Energy Development in Illinois

The colocation of energy storage facilities with solar and wind projects has emerged as a popular trend within the renewable energy field. Many Independent System Operators have reported an increase in hybrid resources projects in their interconnection queues in recent years. For example, CAISO (California Independent System Operator) reported that hybrid projects constitute two-thirds of all solar projects in its interconnection queue.

Continue Reading Real Estate Concerns for Hybrid Renewable Energy Projects