Energy and Clean Tech Connections (December 2010)
12/22/2010
In the December edition of Energy and Clean Tech Connections, we’ve gathered recent information from a wide variety of sources in an effort to keep you abreast of what’s new in the world of clean energy. We draw your attention to the latest industry developments, news from local governments to Capitol Hill, grant opportunities, and upcoming events.
This month, the Energy & Clean Technology Practice Group would like to congratulate Mintz Levin client Canaccord Genuity and ML Strategies client Suniva. Canaccord is acting as the sole placement agent for American DG Energy’s recently announced registered direct offering. Suniva was recently named Commercial Technology of the Year at the 2010 Platts Global Energy Awards for its high-performance, low-cost monocrystalline silicon solar cells and modules. The Practice Group would also like to congratulate several of its clients who were recognized in Biofuels Digest’s 50 Hottest Companies in Bioenergy for 2010-2011, including Abengoa Energy, Joule Unlimited, Bluefire Renewables, SG Biofuels, Verenium, IneosBio, and ML Strategies client Cobalt Technologies.
On December 16th, the House passed the $858 billion Middle Class Tax Cut Act of 2010, extending Bush-era tax rates and a variety of expiring business tax credits which include key tax incentives for the clean technology and renewable energy sectors. Energy-specific incentives that were extended in the amendment include the Section 1603 Treasury grant program, ethanol tax credits and tariff, the biodiesel tax credit, and incentives for manufacturers of energy-efficient appliances and builders of energy-efficient homes. Small business capital gains exclusions and bonus depreciation incentives were also extended. The amendment did not extend the Section 48C tax credit program or the clean renewable energy bonds program (CREBs). For more information on this amendment please refer to Mintz Levin’s Energy and Clean Technology Alert, Congress Recharges Tax Incentives for the Clean Energy Sector.
Looking forward towards the 112th Congress, the idea of a clean energy standard is beginning to resurface as an increasingly possible path forward for energy policy. The clean energy standard has gained bipartisan support as a first step towards increasing the nation’s energy security and working towards a clean energy future. In other news, Senator Jay Rockefeller (D-WV) has pulled his measure for a two-year delay of EPA’s GHG regulations under the Clean Air Act from consideration for the next Congress, noting that Republicans are already planning plenty of EPA oversight and delay measures.
We hope that you enjoy this month’s edition of the newsletter. For the most up-to-date information on federal legislation and programs, please click here to find the most recent ML Strategies Energy and Environment Update.
