On August 23, 2017, the Department of Energy (DOE) released its “Staff Report to the Secretary on Electricity Markets and Reliability,” which was commissioned by U.S. Secretary of Energy Rick Perry in April to provide an assessment of the reliability and resilience of the United States’ electrical grid. The comprehensive report includes an overview of electric grid resources, identification of issues bearing on electricity markets, and several recommendations primarily focused on implementing pricing policies designed to support baseload resources.

Continue Reading U.S. Department of Energy Releases “Staff Report to the Secretary on Electricity Markets and Reliability”

On August 23, the Baker-Polito Administration awarded $455,000 in grants to seven early-stage researchers and companies developing clean energy technologies as part of the Massachusetts Clean Energy Center’s (MassCEC) Catalyst program.

Continue Reading Baker-Polito Administration Awards $455,000 in Grants to Clean Energy Innovators

On August 23, Massachusetts joined the eight other states in the Regional Greenhouse Gas Initiative (RGGI) in announcing a plan to reduce carbon dioxide emissions by an additional 30 percent by 2030 relative to 2020 levels. The nation’s first market-based regulatory program to reduce greenhouse gas emissions, the RGGI counts Connecticut, Delaware, Maine, Maryland, New Hampshire, New York, Rhode Island, Vermont, and Massachusetts as members. Since 2009, the initiative has employed a cap-and-trade program to lower emissions, and the proceeds from the pollution permit auctions are used to support energy efficiency programs in the member states. This most recent plan would lower emissions by more than 65 percent since the initiative’s inception.

Continue Reading Massachusetts Joins Other States in Regional Greenhouse Gas Initiative Announcing Plan to Reduce Emissions by Additional 30 Percent over 2020 Levels

On July 25, 2017, the U.S. District Court of the Southern District of New York dismissed a case brought by fossil fuel generators against New York’s recently established zero emission credit program.

Continue Reading NY Federal Court Dismisses Case Against Subsidies for Nuclear Energy

On August 11th, 2017, the Massachusetts Department of Energy Resources (DOER) released its final set of proposed regulations for the Solar Massachusetts Renewable Target (SMART) program, which aims to deploy another 1,600 MW of new solar resources in the Commonwealth.

Continue Reading MA Department of Energy Resources Files Final Revised Regulations for Solar Massachusetts Renewable Target Program

In early April 2017, the Massachusetts Department of Energy Resources (DOER) partnered with investor-owned electric distribution companies across the state to jointly issue a request for proposals (RFP) for renewable energy generation. The mission of the RFP is to ultimately help the state meet goals outlined by energy diversity legislation signed into law by Governor Charlie Baker in August 2016. By the time the initial deadline closed on July 27th, the state had received nearly four dozen bids for a contract to add more renewable power to its energy portfolio.

Continue Reading Massachusetts Receives Nearly Four Dozen Bids in Response to Request for Proposals for Renewable Energy Generation

On July 20, 2017, the National Academies of Sciences, Engineering, and Medicine (NASEM) released a report directing the U.S. Department of Energy (DOE) and the U.S. Department of Homeland Security (DHS) to develop solutions to improve the cyber and physical security and overall resilience of the US electrical grid. The report, which was first initiated by Congress following the massive outages caused by Hurricane Sandy in 2014 and is further driven by recent malware infections found on the servers at a nuclear plant, addresses threats to the grid posed by natural disasters and malicious cyberattacks.

Continue Reading National Academies of Sciences, Engineering and Medicine Release Report Recommending Ways to Improve the Resilience of Nation’s Electric Grid

This year is proving to be the year of investing in innovative energy technology.  Mercom Capital Group reports that in the first half of 2017,  over $1 billion in venture capital and private equity funding has been invested in battery storage, smart grid and energy efficiency companies worldwide, exceeding the first-half funding benchmarks in 2014, 2015, and 2016.

Mercom Capital Group, a global clean energy communications and consulting firm, surveyed the combined venture capital funding (including private equity and corporate venture capital) and mergers & acquisitions across 89 companies in three separate sectors – Battery Storage, Smart Grid, and Energy Efficiency. Total investments in these areas amounted to $1.03 billion across the first half of 2017, a marked 25% jump from $807 million in the first half of 2016.

Continue Reading Global Funding in Sustainable Energy Tops $1 Billion in First Half of 2017

On July 19-20, 2017, Big Path Capital hosted its 9th annual  Impact Capitalism Summit in Nantucket. Mintz Levin is has been proud to serve as a sponsor of the event for the past three years. The Impact Capitalism Summit is the largest convening of investors focused on maximizing impact and maximizing return. This year’s Summit focused on the future of impact investing as the new mainstream. Our own Tom Burton moderated a panel on the power of impact investing as it relates to climate change, highlighting its potential to engage broader, bipartisan engagement of actors across industries.

Continue Reading 2017 Nantucket Impact Capitalism Summit Highlights Importance of Impact Investing

If you are a year-end U.S. public company, your second fiscal quarter has recently come to an end, which means that it’s time to calculate your public float to see if your reporting status has changed. Here are a few things to remember. Continue Reading U.S. Public Companies: Calculating Your Public Float – What You Need to Know