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.
Financial advisory and asset management firm Lazard recently published its annual report on the costs of electricity generation technologies, finding that the costs for clean energy projects continue to decrease. The tenth version of Lazard’s Levelized Cost of Energy Analysis (LCOE 10.0) shows that the cost of large-scale solar projects continue to rapidly decline, falling by 11% in 2016 and thus 85% since 2009. This makes new solar projects competitive with natural gas power plants in some regions of the U.S., even before federal investment tax credits, and in many regions across the country, wind projects are the lowest cost option among all energy technologies, before federal tax credits. To learn more about Lazard’s report, read on!
On December 15, 2016, the MIT Energy Initiative (MITEI) released an in-depth research report providing guidance for the evolving electric power sector. The MITEI report, The Utility of the Future, proposes major regulatory, policy, and market overhauls to electric power systems around the world for efficient integration of distributed and centralized energy resources. Through a set of analysis-based recommendations, the comprehensive study has two overarching proposals: the development of a comprehensive system of prices and regulated charges that apply to all network users, and the removal of inefficient barriers that currently impede the integration and competition of distributed and centralized resources. To learn more about MITEI’s report, read on! Continue Reading MIT Energy Initiative Releases Report for Evolving Electric Power Sector
Passage of a tax package is another possible item on Congress’ list for the lame duck session, which is discussed in a recent ML Strategies alert. Three dozen tax provisions are scheduled to expire December 31, about half of which pertain to energy provisions. Congress approved last December a $1.1 trillion omnibus appropriations and $680 billion tax extenders package and adjourned for the first session of the 114th Congress. To learn more about the tax extenders package, read on!
Last Sunday, the Massachusetts Legislature passed a compromise energy bill to significantly increase electricity produced by renewable energy sources. The state’s utilities will be required to purchase power from on and offshore wind farms, as well as power from hydroelectric dams located largely in Canada. Governor Baker is expected sign the bill in short order, as he has strongly supported purchasing imports of clean energy. To learn more about this bill, read on!
On July 15, the Los Angeles Times Summit on renewable energy brought together government officials, academics, regulators, fossil fuel executives, and renewable energy advocates to discuss the challenges California faces in meeting the state’s goal of supplying 50% of its electricity through clean energy by 2030.
Lt. Governor Gavin Newsom affirmed California’s commitment to its renewable energy goal despite issues concerning electricity costs, economic stagnation, and consistent sourcing in his remarks at the summit. However, he also acknowledged, “We have to be sensitive to issues related to energy costs.” To learn more about the summit, continue reading!
Mintz Levin Strategies recently published its Washington Outlook for 2016, and it contained a variety of insights for the energy technology industry. Some of the most important items to keep an eye on in the coming year include fallout from Congress’ omnibus appropriations and tax extenders agreements, TSCA reform, action on climate change following COP21, and EPA regulatory efforts. Add to that an ongoing presidential election that will no doubt shape the political environment, and you have a recipe for an exciting year. For a more detailed breakdown on what to expect in 2016, read on!
In August, the U.S. Department of Energy released its 2014 Wind Technologies Market Report. The report, released annually for the past three years, tracks American progress in wind related areas including installed capacity, prices, jobs, and technological trends, among several others. This edition contains several positive developments for U.S. wind, as last year 4,854 MW of new capacity was added, representing $8.3 billion in new investments. For a summary of the report’s major highlights, read more below:
In their recently released 2015 Market Report, Advanced Energy Economy reveals that the US advanced energy market grew to $200 billion in 2014, an increase of 13% above the total for 2013. This activity positions the U.S. advanced energy market in strong company, $20 billion higher than the airline industry and neck-and-neck with pharmaceutical manufacturing. In addition, the powerhouse consumer electronics market lies within reach at $211 billion. Strong postings from wind, solar photo-voltaics, and natural gas added to the already strong foundation of the largest segment of U.S. advanced energy – building efficiency products and services.
The 2015 Report, the third such publication from Advanced Energy Economy, was compiled in partnership with Navigant Research. The report provides up-to-date information on a wide spectrum of energy-related market sectors, including transportation, fuel production, fuel delivery, building efficiency, generation, delivery and management, and more. Click here to view highlights from the report.
Mintz Levin is proud to be a part of the Clean Edge 2014 Clean Energy Trends Report. The annual report, now in its 13th year, provides substantive data analysis of happenings in the cleantech marketplace and insights into issues which will be impactful in the near future. Our attorneys were involved in dozens of energy technology transactions last year, and helped our clients with myriad other issues. Through this work we are aware of emerging trends across the industry, and we commend Clean Edge for the depth of their research and the clarity with which they present the results of their extensive efforts. Among the highlights of the report: