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…...
On March 4, 2014, the Regional Greenhouse Gas Initiative (RGGI) held the first carbon allowance auction under the new Model Rule. Auction prices reached record levels and high market participation and allowance demand exhausted the 5 million allowance Cost Containment Reserve. Overview The Regional Greenhouse Gas Initiative (RGGI) is the nation’s first mandatory market-based cap-and-trade…...
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…...
A bipartisan coalition of 144 House and Senate members have written to the House Speaker and Senate Finance Committee urging extension of the wind energy production tax credit. On March 21, 2014, a group of 118 House members led by Reps. Steve King (R-IA) and Dave Loebsack (D-IA) wrote to House Speaker John Boehner (R-OH)…...
The traditional electricity power grid is undergoing a historic shift with the emergence of decentralized power generation. The Federal Energy Regulatory Commission (FERC) is charged with overseeing complex state, regional, and local transmission laws and regulatory environments, which can vary significantly. This variance, combined with a more open transmission project market may lead to increased…...
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…...
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…...
On February 26, 2014, Massachusetts approved 12 long-term power purchase agreements (PPA) for a total of 409 megawatts (MW) – enough to power 122,000 homes – from three projects located in Maine and New Hampshire. The contracts are between four Massachusetts utilities, Unititl, NSTAR Electric, National Grid, and Western Massachusetts Electric Company, and three renewables…...
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…...
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…...
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…...
The NY Green Bank has issued a request for proposal to private sector lenders to facilitate financing for clean energy projects. On February 11, 2014, NY State Governor Andrew M. Cuomo announced the start of NY Green Bank’s business operations through a request for proposal (RFP) to industry participants, private-sector capital providers, and investors for…...