On May 10, 2023, the Internal Revenue Service (IRS) and the U.S. Department of the Treasury (Treasury) released guidance on the Domestic Content Bonus Credit (Bonus Credit) in the Inflation Reduction Act (IRA). The guidance discusses forthcoming proposed regulations concerning the Bonus Credit.
The final Scoping Plan (Plan) for New York State’s Climate Leadership and Community Protection Act (“CLCPA” or the “Act”) was passed overwhelmingly by the Climate Action Council (“Council” or “CAC”) on December 19, 2022. The vote was 19 to 3. The Scoping Plan provides recommendations to meet the Act’s mandates, including significantly reducing greenhouse gas
The fallout from the COVID-19 pandemic and the Russian invasion of Ukraine are only the most recent events that have put enormous strain on clean energy supply chains around the world. This has led to escalating prices of oil and gas, and shortages of the minerals necessary for manufacturing in the clean energy technology sectors.
New York State passed one of the most sweeping and comprehensive climate action laws with the 2019 Climate Leadership and Community Protection Act (Climate Act). The Act set aggressive goals for the State to reduce its carbon footprint and eliminate its reliance on fossil fuels.
A relatively new industry known as Controlled Environment Agriculture (“CEA”) embodies the consumer’s desire for local and organic food, and also accommodates the legal growth of recreational cannabis in many states. The push for locally-sourced foods and other commodities appears to be an enduring trend, both for the provision of higher quality products and for
Bitcoin was introduced in 2008 as a decentralized currency that could be transmitted through a peer-to-peer network and recorded on a ledger known as a “blockchain.” Like any new and emerging industry, cryptocurrencies have been subject to a high level of public, regulatory and legislative scrutiny.
On September 22, 2021, Justice Peter Lynch of the New York State Supreme Court, Albany County denied the petitioners’ application in Town of Copake v. New York State Office of Renewable Energy Siting, No. 905502-21 (Sup. Ct. Albany Cty. Sept. 24, 2021), rejecting a challenge to regulations promulgated by the New York State Office of
On August 27, 2021, Justice Peter Lynch of the New York State Supreme Court, Albany County issued the first substantive ruling in Town of Copake v. New York State Office of Renewable Energy Siting, No. 905502-21 (Sup. Ct. Albany Cty. Aug. 27, 2021), a lawsuit challenging the validity of regulations promulgated by the New York
Earlier this year, as part of the New York State budget, the Legislature enacted New York State Real Property Tax Law Section 575-b (RPTL 575-b), which creates new requirements for the real property taxation of wind and solar energy projects that have a nameplate capacity of 1 megawatt (MW) or greater. These new requirements are
On August 20, 2020, the New York State Supreme Court, Appellate Division, Fourth Department issued a decision in Cornell University v. Board of Assessment Review (“Cornell University”), finding that a solar photovoltaic system is taxable real property. See No. CA 19-00339, slip op. 04636, 2020 WL 4876486 (4th Dep’t Aug. 20, 2020). This decision settled,
