New York Green Bank to Transform Clean Energy Markets

On February 5, 2014, The New York Green Bank (NYGB) issued its first solicitation for project funding. With project funding commencing, NYGB aims to create a sustainable stream of private capital to replace intermittent grants and subsidies from state and federal sources, and be the first U.S. Green Bank to target $1 billion in capitalization....

DOE Issues Draft Loan Solicitation for Clean Energy Projects

DOE has released a draft solicitation for renewable energy and energy efficiency projects that could provide up to $4B in loan guarantees. On April 16, 2014, the Department of Energy (DOE) issued a draft loan guarantee solicitation for innovative renewable energy and energy efficiency projects aimed to reduce greenhouse gas emissions.  The Renewable Energy and...

California Cap and Trade Program Strong after First Year of Operation

On February 19, 2014, the California Air Resources Board (CARB) held its sixth carbon allowance auction. Auction results over the first year show that compliance entities are becoming more comfortable with program and that investor market confidence is growing. Similarly, a secondary allowance market is also developing as market confidence grows. Overview The California Air...

NYPA Releases 2014-2019 Strategic Vision

The New York Power Authority has released its updated strategic plan outlining actionable initiatives to attain a transformed energy system. On March 26, 2014, the New York Power Authority (NYPA) released its Strategic Vision 2014-2019, an updated strategic plan aimed to boost economic growth by providing more value to NYPA customers.  Through the plan, NYPA...

Indiana Feed-in Tariff for Renewable Energy Facilities

Indiana’s new Feed-in tariff (FiT) program will allow customers to sell electricity produced by renewable energy facilities to their electric utilities at favorable rates. The Indiana Utility Regulatory Commission (IURC) will establish an electric utility FiT program, which requires utilities purchasing electricity generated from a renewable energy facility to enter a standard contract for a...

FY 2015 Budget Proposal Highlights Clean Energy and Climate Resilience

The FY 2015 budget plan proposes $27.9B in DOE funding, reiterating President Obama’s commitment to a low-carbon future and energy infrastructure resilience. President Barack Obama’s FY 2015 budget plan released on March 4, 2014 allocates $27.9B for the Department of Energy (DOE), a 2.6 percent increase from the 2014 enacted level.  It reflects DOE reorganization...

YieldCo Market Unfolds While Waiting for Congressional Action on MLPs

Alternative power producers continue to turn to the YieldCo model to find lower costs of capital and residual value. Investors benefit from low risk exposure to renewable energy development, high yield and more favorable tax rates, however, risks do exist. Since January 1, 2014, two new YieldCos have been announced, SunEdison and Hannon Armstrong Sustainable...

ARPA-E Update: $625M Private Funding Leveraged

To date, the 2009 Advanced Research Projects Agency-Energy has invested $900M for innovative projects leveraging $625M in private funding. On February 25, 2014, the Department of Energy’s (DOE) Advanced Research Projects Agency – Energy (ARPA-E) announced that it has advanced 22 innovative projects over the past five years, leveraging approximately $625M private funding following its...

New Hawaii Bill Supports Energy Storage

Hawaii Senate Bill 2933 mirrors energy storage sector growth interest and introduces investment and utilization tax credits. Senate Bill 2933 introduces two tax credit forms on utility scale renewable energy storage properties with the requirement that all departments of business, economic, and tourism are to submit an annual joint report to legislature. Investment credit will...

President Obama proposes $1B Climate Resilience Fund

President Obama’s 2015 Budget proposal will include a $1B Climate Resilience Fund to enhance climate change preparedness and infrastructure resilience. During a meeting with farmers and ranchers in drought-affected California on February 14, 2014, President Barack Obama announced a $1B Climate Resilience Fund to support climate impact actions.  The Fund will be included in the...

RPS Carve-Outs are Expanding Solar Markets in Multiple States

Solar carve-outs have been implemented as part of the Renewable Portfolio Standard (RPS) in 14 U.S. states and the District of Columbia, helping to support the expansion of solar energy projects throughout the nation. All of these states are on track to meet their long-term compliance goals, and all show increasing percentages of annual RPS...

President Obama Orders Quadrennial Energy Review

President Obama has ordered a comprehensive energy strategy review to ensure federal policies continue to address changing energy requirements. On January 9, 2014, President Obama signed a memorandum establishing a Quadrennial Energy Review (QER) to enhance the federal government’s capability to provide a comprehensive and integrated energy strategy to meet challenges posed by rising energy...