ARE SOLAR ENERGY INVESTMENT TAX CREDITS LOSING POWER?

| August 13, 2019

article image
Solar energy – that perpetual, inexhaustible power source – has been harnessed and used by us to provide heating and cooling in our homes, offices and schools for decades; and, as an alternative to fossil fuels, it has become a potent symbol of conservation. Corralling and using solar energy commercially progressed in fits and starts but gathered real momentum when the federal tax laws recognized that investments in solar energy were of national importance and worthy of tax credit (investment tax credit or ITC) consideration against the costs of equipment purchase, installation and maintenance. Just a quick review of the enabling tax legislation reveals the following: the Energy Policy Act of 2005 (P.L. 109-58) originally established the ITC for solar energy systems placed in service between January 1, 2006 and December 31, 2007. With a series of extensions since, most recently a spending bill passed by Congress in December of 2015, the ITC is currently available to homeowners through 2021.

Spotlight

ENGIE Cofely

Engie Cofely, Engie Group Company in energy and environmental efficiency. Engie Cofely offers businesses and communities solutions for better use of energy and reduce their environmental impact.

OTHER ARTICLES

Four Ways Toward A New Energy Economy

Article | February 25, 2020

The American Council on Renewable Energy (ACORE) released a report in January 2020 that examines four notable policy approaches identified as having the potential to accelerate the transition to a renewable energy economy and achieving scientifically based reductions in greenhouse gas (GHG) emissions. The report, Advancing America’s Climate Leadership: Policy Options That Most Effectively Put Renewable Energy to Work, discusses specific advantages and limitations of each policy option, individually and in combination. Authored by ACORE’s Greg Wetstone, President and CEO; Bill Parsons, COO; Lesley Hunter, VP of Programs; and Tyler Stoff, Policy Manager, this report offers design recommendations for policymakers to optimize implementation.

Read More

RENEWABLE ENERGY: IMPACT OF COVID-19 ON PROJECT SPECIFIC INSURANCE

Article | March 16, 2020

We are certain that everyone involved in renewable energy projects are thinking about the impact Covid-19 will have on your projects being planned, built or operated. The following blog is not to be used as a full guideline, but rather an overview of our perspective on the situation. With the global Covid-19 escalation, it is likely that both the developers and the OEM’s are thinking “what impact will Covid-19 have on the completion of my project” and “can I still meet my PPA deadline?’ The first question to consider is whether a delay caused by a Force Majeure event insurable? The short answer is that no, a delay in this scenario would not be covered. Insurance is about Physical Damage to the subject matter insured, which is the Works. An outbreak of Covid-19 is not a Physical Damage event.

Read More

Renewable Energy Strategies in the Oil and Gas Sector

Article | February 13, 2020

Renewable energy is suddenly taking a very important role in the energy industry; especially solar and wind. In light of this, major players in the oil and gas industry have begun to position themselves for this forecasted energy transition. Major investments by the oil majors into renewable energy has called for the question of whether this is an indication that they are gradually transitioning into energy companies. Also, upon closer study of this trend, it is easy to classify the major players into leaders in renewable energy investment and slackers.

Read More

Toyota Green Energy could focus on offshore wind for hydrogen

Article | April 9, 2020

The world’s largest automotive company, Toyota, has announced a joint venture to enter the renewable power generation industry, setting up Toyota Green Energy in its home country of Japan. While initially this will focus on powering the company’s operations with clean electricity, the long-term could see the venture shift its focus towards the production of green hydrogen for use in Toyota’s fuel-cell vehicles. Last Friday, Toyota Motor Corporation announced an agreement with Chubu Electric Power and Toyota Tsusho Corporation to establish their new partnership in July, with the purpose of obtaining and managing renewable energy resources in Japan to power the operations of the Toyota Group.

Read More

Spotlight

ENGIE Cofely

Engie Cofely, Engie Group Company in energy and environmental efficiency. Engie Cofely offers businesses and communities solutions for better use of energy and reduce their environmental impact.

Events