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Soundbites II from Solar + Wind Finance and Investment Summit 2022
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This is the second installment of soundbites from Infocast’s inaugural Solar + Wind Finance and Investment Summit.

Solar panel import duties: contract minefield
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Solar panel import duties: Construction and procurement
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The US Department of Commerce’s decision to investigate antidumping and duties on solar imports from Cambodia, Malaysia, Thailand and Vietnam has resulted in a slowdown in imports of panels to the US.

Ep190: Climate Insurance and the Solar Industry
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Jason Kaminsky, CEO of kWh Analytics, joins us to discuss the company’s $20M Series B fundraise and the emergence of climate insurance. We discuss what the fundraise means for the industry as a whole, why clima

Soundbites from Solar + Wind Finance and Investment Summit 2022
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The inaugural Solar + Wind Finance and Investment Summit was held in Scottsdale, AZ from March 6 to 9 and the conference was extremely well-attended.

Ep189: Proposed Tariffs Add to Uncertainty for Solar Develop
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Abigail Ross Hopper, president and CEO of the Solar Energy Industries Association, joins us to discuss what the potential anti-circumvention tariffs on cells and modules from Malaysia, Thailand, Vietnam and Cam

Ampersand clarifies power project placed-in-service analysis
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David Burton and Viktoria Vozarova analyze the US Court of Appeals for the Federal Circuit’s recent decision in Ampersand Chowchilla Biomass LLC v. US.

Environmental update: March 2022
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The Biden administration is looking for other ways to press banks to prepare for potential threats to the nation’s financial system from climate change.

Effects of the Russian invasion
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Leading project finance market participants were split as the NewsWire went to press about the effect the Russian invasion of Ukraine will have on renewable energy and the broader project finance market.

The road ahead
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The talk at the annual Infocast Projects & Money conference in New Orleans in late January was about the rapidly evolving US renewable energy market.

Carbon offsets as a potential source of revenue
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Renewable energy developers are showing more interest in the voluntary carbon offset market as a potential source of additional revenue for their projects.

Calculating how much tax equity can be raised
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Developers of renewable energy projects in the United States sometimes struggle to calculate how much tax equity can be raised to help pay the project cost.

Cost of capital: 2022 outlook
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A record number of banks and grey market lenders are chasing projects at the start of 2022, keeping downward pressure on interest rates despite rising inflation.

Representations and warranties insurance data and claims
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Roughly 20% of representations and warranties insurance policies issued between 2016 and 2018 had claims made on them within three years after the policy inception.

Customs seizures of solar panels
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US Customs is starting to release some blocked Chinese solar panels.

Crypto mining opportunities
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Cryptocurrency miners are becoming a potentially lucrative outlet for some power suppliers

Another utility tax equity structure
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A utility structure for raising tax equity solves a so-called section 707(b) issue with some utility tax equity partnerships.

Policy outlook for US renewable energy
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Law firms are fielding constant questions about the outlook for the “Build Back Better” bill, whether certain provisions risk being left behind and what is likely to happen with Customs seizures of some...

Sophisticated use of political risk insurance
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Lenders and equity investors in emerging market projects can make more sophisticated country risk analyses, insuring selected risks in a manner that increases the internal rates of return on projects.

Replacing LIBOR
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Replacing LIBOR with SOFR will not trigger US tax consequences, as long as the change doesn’t cross one of four tripwires.

Solar panel import duties
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US import tariffs on solar cells and panels could remain a battleground into the summer.

Ep188: Energy Storage Investment Tax Credits
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Keith Martin, partner at Norton Rose Fulbright in Washington, joins us to discuss investment tax credits (ITCs) for energy storage and provide an update on the current tax equity market. We get into how current

Ep187: Freeing Energy with Bill Nussey
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Bill Nussey, founder and CEO of the Freeing Energy Project, joins us to discuss the shift to cleaner, cheaper energy. We discuss his new book, Freeing Energy, why he thinks local energy can be cheaper than elec

Renewable energy finance and tax trends for 2022: Q&A, presentation and recording
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David Burton provides the answers to the questions submitted by audience members during the webinar.

Ep186: An Inside Look at Intersect’s $2.6 Billion Financing
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Ep185: Cost of Capital: 2022 Outlook
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The year ahead looks like another strong year for financings, but with uncertainty around supply chains, inflation, potential tax law changes and import tariffs. The yield on the 10-year Treasury bond is up sig

Desert Sunlight Opinion Sheds Light on Purchase Price Allocations For ITC
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The Court of Federal Claims in its summary judgment opinion in the Desert Sunlight case clarified the application of the purchase price allocation rules to determine the investment tax credit (ITC).

Ep184: Scaling the Next Generation of Sustainability
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Katie McClain, partner at Energize Ventures, joins us to discuss the company’s investment approach. We get into what it looks for in clean energy and climate tech companies, how its approach differs from other

Required Reporting to FINCen
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The United States moved one step closer in December to requiring US companies to file reports with the US Treasury disclosing their beneficial owners.

Utility Status in Iowa
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An Iowa homeowners’ association is a water utility and must collect a utility excise tax on water service, the state tax department said.

Solar Output Forecasts
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Some solar output forecasts are too optimistic.

Solar and Public Utility Property
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“Public utility property” questions continue to take up IRS time.

Partnership Flips and California Property Taxes
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California clarified that partnership flip transactions do not trigger property tax reassessments for solar projects.

Section 1060 and Purchase Price Allocations
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Tax basis allocation issues are getting more attention in court.

Automatic LIBOR Replacement
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LIBOR would be replaced automatically with SOFR in some loans and other contracts under a bill that passed the US House of Representatives in early December by a 415-to-9 vote.

Sovereign debt crisis disputes
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Investors have options for how to weather sovereign debt defaults that are expected in as many as 15 to 20 countries in the wake of the pandemic. The fact that China has become the world’s largest creditor ...

Battery purchase contracts
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Battery purchase contracts take one of two general approaches. Once an approach is chosen, there are four key issues to be sure to address in the contract.

Buying American for infrastructure
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The infrastructure bill requires projects receiving federal funding to use iron, steel, manufactured products and construction materials made in the United States.

Hydrogen funding and tax credits
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Developers are already circling money for hydrogen projects after a boost in funding in the infrastructure bill that President Biden signed in November. Such projects would get a further boost if the “Build ...

Current challenges
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The US renewable energy market is entering a period of potentially rapid growth, but with a great deal of short-term uncertainty. A quick survey of how supply-chain difficulties, tax law uncertainty ...

Cryptocurrency mining for power suppliers
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Outsized profits from cryptocurrency mining are an enormous current opportunity for electric power suppliers. However, the length of time this opportunity will remain available is uncertain.

US offshore wind financing update
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The lead finance people at three large offshore wind projects planned off the US Atlantic coast discuss the recently concluded financing for Vineyard Wind, the financing plans for the other two projects ...

Solar tax equity structures
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Three main tax equity structures and two significant variations are in use currently in the US solar market. The structures raise different amounts of tax equity, allocate risk differently and impose ...

Environmental update 2021 12
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Power projects using best management practices to avoid incidental “takes” of migratory birds are “not an enforcement priority.” The Bureau of Ocean Energy Management will try to lease enough area off ...

LCFS credit for renewable natural gas
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Renewable natural gas projects are tapping into low-carbon fuel standard credits in California, and have the potential to do so in other states.

New money and standards for EV charging stations
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The infrastructure bill authorizes the US Department of Energy to lend up to $10 billion to help with construction of new high-voltage interstate transmission lines. DOE can also act as a catalyst for new ...

Infrastructure Bill and transmission
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The infrastructure bill authorizes the US Department of Energy to lend up to $10 billion to help with construction of new high-voltage interstate transmission lines. DOE can also act as a catalyst for new ...

Ep183: Maximizing the Value of Renewable Real Estate Holdings
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Maria Klutey, president of Activate Renewables, joins us to discuss how the company’s business model maximizes the value of renewable real estate holdings. We get into the history and background of Activate, it

Ep182: Vanadium Flow Batteries
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Matt Harper, chief commercial officer at Invinity Energy Systems, joins us to explain vanadium flow batteries. We discuss the future of energy storage, how vanadium flow batteries differ from lithium-ion, what

Ep181: Intersect Power's Approach and Latest Financing
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Sheldon Kimber, CEO and co-founder of Intersect Power, joins us to discuss what he is seeing in the industry and talk about the company’s latest financing. We discuss Intersect’s interest in green hydrogen, how

Ep180: Insuring Renewables
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Maryann Johnson, senior managing director of property and energy claims at Beecher Carlson, Brian DiLuigi, senior vice president of alternative energy, and Alex Nephew, risk management and insurance advisor wit

Direct pay ain’t all it’s cracked up to be
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If the Democrats manage to end their in-fighting and pass the Build Back Better Act (BBB), it appears likely to include an option to elect cash in the form of a tax...

Ep179: Solar Energy Validation
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Jackson Moore, product director at DNV for renewable energy software, joins us to discuss DNV's solar energy validation work and to address questions about how and why solar assets may underperform. We discuss

Ep178: Green Energy Infrastructure
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Sam Porter and Mike Sloan, partners at Synergetic, join us to discuss green energy infrastructure. We go over Synergetic’s mission to deliver zero-carbon energy, the current infrastructure issues that it has id

Taxation of proxy revenue swaps for renewable energy projects
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The proxy revenue swap (PRS) is a burgeoning financial product that supports renewable energy projects that sell electrical energy into the wholesale electricity markets.

Ep177: Sustainable Finance
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Michael Edesess, managing partner, and Pascal Schoneburg, founder of M1K, join us to talk about sustainable finance. We discuss what sustainable finance is, the financial instruments included in it, whether sus

Podcast | Renewables and reconciliation: What the current policy debate means for clean energy
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Democrats in Congress are looking to pass a USD 1 trn bipartisan infrastructure bill and an even larger spending plan through reconciliation, and both bills could have a significant impact on the US energy sect

Ep176: A Creative and Collaborative Funding Solution
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Arunava Mitra, CFO of Mitsubishi Power Americas, and Nik Nunes, CEO of Industrial Development Funding (IDF), join us to discuss their collaboration to provide creative forms of financing for energy projects. We

Ep175: Developing in the C&I Space
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Brett Phillips, vice president at Unico Solar, joins us to discuss the company and how it is developing projects in the C&I space. We get into the type of projects that

Ep174: Building Better Batteries
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Rick Luebbe, CEO of Group14, joins us to discuss how the company brings new performance capabilities to lithium-silicon batteries. We get into how Group14’s technology works, what it means for the typical consu

Final regulations complicate bonus depreciation for a sponsor’s buyout of a tax equity investor
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This post follows-up on Sponsors may Claim a Bonus Depreciation from Buyouts of Tax Equity Investors.

Ep173: US Offshore Wind Update
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Abby Watson, head of governmental affairs, North America at Siemens Gamesa, joins us to discuss the US offshore wind market. We discuss the trajectory of offshore wind on a global level, where it is headed in t

Romania
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Romania replaced its 25% corporate income tax with a 16% “flat” tax, effective on January 1.

Ep172: Supply Chain Ethics and Transparency in the US Solar Industry
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Abby Hopper, president and CEO of the Solar Energy Industries Association (SEIA), joins us to discuss current supply chain ethics issues in the US solar industry. We discuss the current forced labor issues that

Effort to salvage Mexican private power sector advances
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A federal district court in Mexico blocked enforcement earlier this month of steps that the López Obrador government has taken to strengthen the national electric utility, the CFE ...

Ep171: Renewable Hydrogen Update
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Jean-Louis Kindler, CEO of Ways2H, a company focused on turning the world’s waste into renewable hydrogen, joins us to discuss the company’s technology and the hydrogen market. We get into what is currently hap

Utility tax equity partnerships
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Utilities are financing solar projects in the tax equity market in a manner that produces enhanced benefits.

Xinjiang: Blocked solar panels
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Xinjiang issues are getting closer attention from counsel.

Solar and wind import tariffs
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A hoped for easing of tariffs affecting the renewable energy sector once President Biden took office has not happened.

California CCAs and prepaid PPAs
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Four California CCAs that are planning to use a form of prepaid power contract may find the structure hard to implement.

CFIUS 2020 data
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CFIUS said in its latest annual report to Congress at the end of July that is now takes an average of 45 business days to review proposed acquisitions of US companies by foreign investors.

Interconnection costs: Electricity v. water and sewer
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Most interconnection payments and government grants to investor-owned water and sewer utilities will no longer have to be reported by the utilities as income...

Property taxes and projects on federal land
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Projects on federal land are probably not be exempted from local property taxes, but it depends on the facts.

Stalled carbon capture projects
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Stalled carbon capture projects started advancing again after an IRS revenue ruling on July 1.

Carbon border adjustments
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As the United States debates whether to impose a carbon border adjustment, it might be instructive to understand how Europe is proposing to do it.

Summer market survey
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A summer survey of current issues in the market, including how companies are handling forced-labor issues in Xinjiang, inflation, tax equity scarcity, equity returns, carbon capture projects ...

N-GEO futures
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Trading started this month in futures contracts that deliver nature-based reductions in carbon emissions.

Landco structures
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Investors are finding value in owning sites through “landcos” and leasing the sites to developers. Developers are also using the structure on their own.

University energy partnerships
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A wave of deals has closed recently where universities turn over campus utility systems to private companies. The private companies make substantial upfront payments in exchange for fees ...

Environmental update | August 2021
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The last decade was hotter than any decade in 125,000 years. Atmospheric carbon dioxide is now at a two-million-year peak. These are a few of the key takeaways from the latest comprehensive UN climate update.

Net zero as moonshot
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Are the goals the US has set to have a carbon-pollution-free power sector by 2035 and a net-zero-emissions economy by 2050 realistic? What type of efforts do they imply?

How banks evaluate energy storage
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Banks put battery deals coming to market into two main buckets. The pricing and debt-service-coverage ratios are starting to diverge based on the type of storage project.

FERC and Congress tackle transmission
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The government machinery needed to address transmission is starting to turn. The Federal Energy Regulatory Commission is addressing transmission reform for the first time in roughly a decade ...

Potential “game-changing” interconnection and transmission developments underway
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FERC is addressing transmission reform for the first time in roughly a decade, and Congress is helping to relieve legal congestion.

Ep170: Green Power Aggregation with Enel
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Mark McGrail, vice president of the commercial office at Enel Green Power North America, joins us to discuss green power aggregation. We get into the options available to corporations that want to buy renewable

Ep169: What Sponsors Need to Know to Finance CCS Projects
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Nick Knapp, senior managing director, and Mike Yurkerwich, director with CohnReznick Capital, join us to talk about what sponsors need to know to finance carbon capture and sequestration (CCS) projects. We disc

Ep168: Data Centers: What Potential Investors Need to Know
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Due to the increased investor appetite for digital infrastructure and growing governmental focus on improving connectivity, digital assets like data centers are crucial in supporting the growth of smart and...

Ep167: How Nuclear Technology Can Help Reach Carbon Goals
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Bret Kugelmass, managing director of the Energy Impact Center, joins us to talk about why nuclear is his chosen technology to reach our carbon goals. We get into what small modular reactors (SMRs) are and how t

IRS extension is partial relief of solar energy projects
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David Burton discusses the partial relief provided by the IRS extension for renewable energy projects.

Ep166: Investing in Water Infrastructure
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Damian Georgino, with Norton Rose Fulbright, joins us to discuss investing in water infrastructure. We start with how he got into the water space, what the market looks like today, the diligence questions that

IRS allows more time to finish construction (1)
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The IRS said this afternoon that developers will have an extra one to two years to finish construction of new wind, solar and other renewable energy projects and qualify for federal tax credits.

Ep165: Banking on Batteries
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James Wright, managing director and head of U.S. project finance and infrastructure with CIBC Capital Markets, joins us to discuss batteries and energy storage. We get into why it has taken so long for batt

Ep164: Utility-Scale Transmission Line Development
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Kimberlee Centera, CEO of TerraPro Solutions, joins us to discuss the critical aspects of utility-scale transmission development. We discuss key issues and challenges for transmission line development, land use

Dividends and section 1411 surtax
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Corporate shareholders must pay an additional 3.8% tax on dividends, the IRS said in an internal memo made public in May.

Biden bulk-power system actions
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The Trump bulk-power system order that barred the purchase or use of any Chinese or other “foreign adversary” equipment that might be used to harm the US power grid has expired.

Wildfire fund contributions
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Utility contributions to a state fund to cover damages after a weather event create an intangible property right.

Low renewables investment in opportunity zones
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Opportunity zones are not attracting much investment in power projects.

Section 707(b): Related-party electricity sales
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Partnerships that own renewable energy projects should be able to sell electricity to one of the partners without causing loss of valuable tax depreciation, the us chamber of commerce said.

Hydrogen tax credits
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Hydrogen tax credits are starting to take shape in Congress.

Uighur pressure builds
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Pressure is mounting to take action on solar panels that use materials or components made in the Xinjiang region in Western China.