The UN Report On Climate Change: What Does It Have To Do With Cannabis And Wine In The US?

Key Takeaways: The recently released IPCC Report shows irreversible harm to the global ecosystem. Fund managers focused on ESG criteria will have an increased focus on environmentally conscious companies and substantial sums of investment dollars will likely flow into companies that commit to more aggressive ESG plans. Cannabis companies could benefit from looking at how industries like the wine industry have embraced sustainability. In an industry where competition for capital…

Renewable Energy Update – August 2021

FocusNewsom issues emergency proclamation to free up extra sources of power Los Angeles Times – July 31Governor Gavin Newsom issued an emergency proclamation on July 30 to free up additional power and to help make sure the state’s lights stay on in the coming months. The proclamation aims to add capacity or reduce load on the state’s electric grid through October. The proclamation includes the suspension of licensing requirements to speed…

Market update: Peak Alert!

Throughout the Northeast temperatures are expected to be extremely hot and humid this week, especially today, August 11th, and tomorrow, August 12th. It is expected that usage may exceed system peaks between the hours of 2-6pm EST on these days. If so, it is likely one of these days will set the system peak in NY, and one of the 5 peaks for PJM. This could set the Capacity Peak…

IRS Notice Provides Relief for Renewable Energy Construction Projects

As we discussed in a previous article, the renewable energy industry is experiencing record growth.  President Biden’s current initiatives are also expected to provide an additional boost to accelerate future growth in clean energy industries. However, the ongoing COVID-19 pandemic and its effects have caused construction delays for these projects due in part to supply chain issues, rising material costs and workforce shortages. These factors can result in delays in completing…

Renewable Energy? For some, the answer may not be blowing in the wind.

The Biden administration has committed to significantly expanding development of renewable energy.  These projects, including solar and wind are welcomed by many.  They have the potential to generate significant amounts of energy with a minimal carbon footprint. Generation of wind energy involves little or no water use, few if any chemicals, and virtually no waste disposal.  Compared with coal, oil, gas and shale gas development, wind projects are an environmentalist’s…

Cannabis and Renewable Energy in New York: Delving into the Weeds of a Budding Industry

New York’s recent legalization of recreational marijuana for adult use has set off a flurry of entrepreneurial activity as businesses seek to establish a foothold in the State’s new and lucrative market. Renewable energy, energy storage and other technologies can help growers not only minimize their electricity bills – a substantial operation expense for the typical indoor farm – but also give them a leg up in the State’s licensing…

Renewable Energy Update – April 2021

FocusSenators introduce legislation to aid clean energy recovery Solar Industry – March 30Sen. Tom Carper, D-Del., Senator Sheldon Whitehouse, D-R.I., and Senator Martin Heinrich, D- N.M., have introduced legislation that would help the clean energy industry create good-paying jobs and recover from the COVID-driven economic downturn. The Save America’s Clean Energy Jobs Act would allow for temporary refundability of section 45, 45Q, and 48 investment and production tax credits, which incentivize…

New York Finalizes Regulations for Renewable Energy Project Review

Earlier this week, the Office of Renewable Energy Siting finalized and enacted the new regulations required by the New York Accelerated Renewable Energy Growth and Community Benefit Act. Signed into law about a year ago, the Act seeks to expedite and streamline the regulation of major renewable energy projects, including wind, solar, and energy storage. It further is intended to remove cumbersome barriers to development in order to help New York achieve…

GREEN Act of 2021

Andre Smith II Mayer Brown – Tax Equity Times House Ways and Means Committee Democrats introduced the Growing Renewable Energy and Efficiency Now (GREEN) Act of 2021 on February 5, 2021. The bill is an updated version of a similar bill of the same name introduced in June of 2020. Many provisions of the GREEN Act either extend or expand the application of existing renewable energy tax credits. The bill…

President Biden’s Climate Change Order Sets Agenda for Energy Policy

Fulfilling one of his central campaign promises, President Biden signed a wide-ranging Executive Order last week addressing climate change through energy, infrastructure, national security, foreign affairs, and social justice policies, to be implemented across the federal government. The Executive Order on Tackling the Climate Crisis at Home and Abroad (“Order”) lays out objectives and requirements for federal agencies to prioritize climate in implementing both foreign and domestic policies. President Biden makes clear…