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Renewable Energy Law Update 2010 . Oregon State Bar Association Environmental & Natural Resources Annual Conference October 8, 2010. Athena M. Kennedy. Renewable Energy Laws. Renewable Portfolio Standards (RPS) Tax Incentives Renewable Energy Grants DOE Loan Guarantees

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Renewable Energy Law Update 2010


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    1. Renewable Energy Law Update 2010 Oregon State Bar Association Environmental & Natural Resources Annual Conference October 8, 2010 Athena M. Kennedy

    2. Renewable Energy Laws • Renewable Portfolio Standards (RPS) • Tax Incentives • Renewable Energy Grants • DOE Loan Guarantees • Renewable Fuel Standards • Other State Legislation Renewable Energy Law - Update 2010

    3. What is RPS? • Requires electricity generators to ensure that a certain amount or percentage of their power is derived from qualifying renewable energy sources • Usually expressed as a percentage of retail sales or generation capacity by a certain compliance year (e.g. 15% by 2015). Renewable Energy Law - Update 2010

    4. State RPS Standards Renewable Energy Law - Update 2010

    5. What Is A Qualifying Renewable Resource? Renewable Energy Law - Update 2010

    6. What Is A Qualifying Renewable Resource? • What is a qualifying renewable energy source? • Almost always: Solar Thermal; Photovoltaic; Wind; Geothermal; Tidal/Wave Energy • What about: Hydro? Certain Biomass? Landfill Gas? Municipal Solid Waste? Coal Methane Gas? Nuclear? • Where was it generated? Renewable Energy Law - Update 2010

    7. Federal RPS? • Proposal in SB 3813 • Not very robust • 2012-2013 – 3% • 2021-2039 – 15% • What is a qualifying renewable energy resource? • What if there are conflicts? • Not likely to pass this year Renewable Energy Law - Update 2010

    8. Federal Production Tax Credit • A per-kilowatt-hour tax credit for electricity generated by qualified energy resources and sold by the taxpayer to an unrelated person during the taxable year. • For wind projects, facility must be “placed-in-service” by December 31 2012 (others by December 31, 2013) • Credits can be claimed for 10 years of production. • Wind Expiration Renewable Energy Law - Update 2010

    9. Federal Investment Tax Credit • Must choose eithher PTC or ITC • Reduces federal income taxes for qualified tax-paying owners based on capital investment in renewable energy projects. • Generally credits are available for eligible systems “placed in service” on or before December 31, 2016 • No recent changes made or proposed. Renewable Energy Law - Update 2010

    10. Federal Renewable Energy Grants • Taken in lieu of the federal PTC or ITC • Where construction began by December 31, 2010 or where the applicant has paid at least 5% of the total cost of the property. • These continue to be awarded – Windy Point/Windy Flats in Goldendale received about $200 million this summer. • Industry Pushing for Extension Renewable Energy Law - Update 2010

    11. DOE Loan Guarantees • In July 2009, the U.S. DOE issued a solicitation for projects that employ innovative energy efficiency, renewable energy, and advanced transmission and distribution technologies • The solicitation provides for a total of $8.5 billion in funding • The due date for Part I applications was October 5, 2010. • The Part II application deadline is December 31, 2010.   Renewable Energy Law - Update 2010

    12. Renewable Fuel • Federal Renewable Fuel Standards • 36 billion gallons of biofuels are required to be consumed by 2022 • Cellulosic Biofuel Producer Tax Credit • $1.01 tax credit per gallon of cellulosic biofuel that is sold for fuel expires and December 31, 2012 • Volumetric Ethanol Excise Tax Credit • For ethanol blenders, $0.45 per gallon of pure ethanol blended with gasoline expires December 31, 2010 Renewable Energy Law - Update 2010

    13. What’s Going on in California? • RPS 33% requirement did not pass • Similar bill vetoed last year by the Governor • CARB adopted 33% RPS Rule Renewable Energy Law - Update 2010

    14. California continued • Schwarzenegger out • Unsure what policies new governor would implement • Proposition 23 • Suspend the California Global Warming Solutions Act of 2006 until unemployment reaches 5.5% for 4 consecutive quarters • Polling is even Renewable Energy Law - Update 2010

    15. Conclusion • Stay Tuned: • California • Federal Government Renewable Energy Law - Update 2010

    16. For more information Athena M. Kennedy 206-829-1802 amk@vnf.com Oregon State Bar Association Environmental & Natural Resources Annual Conference October 8, 2010