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The Internal Revenue Service has released the adjustment factors and reference prices for 2013 to be used in determining the availability of the section 45 credits for the production of renewable energy and the production of refined coal.

The credit for the production of renewable energy for calendar year 2013 is 2.3 cents per kilowatt hour on the sale of electricity produced from qualified sources of wind, closed loop biomass, geothermal energy and solar energy and 1.1 cents per kilowatt hour on the sale of electricity produced in open-loop biomass facilities, small irrigation power facilities, landfill gas facilities, trash combustion facilities, qualified hydropower facilities, and marine and hydrokinetic renewable energy facilities. The credit for refined coal production for calendar year 2013 is $6.590 per ton on the sale of qualified refined coal.

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Check out the article, “The Case for Solar REITs” written by Troutman Sanders attorney Justin Boose for renewableenergyworld.com. The article explains the REIT structure and discusses the many issues that face solar REITs.

http://www.renewableenergyworld.com/rea/news/article/2013/02/the-case-for-solar-reits

In January the United States Court of Appeals for the Federal Circuit handed down its decision in Consolidated Edison Company of New York, Inc. v. United States, No. 2012-5040 (Fed. Cir. 2013), rev’g 90 Fed. Cl. 228 (2009).  The decision reverses the only lower court case that had decided a LILO or SILO transaction in favor of the taxpayer, and likely ends the decade-long litigation of these contentious leveraged lease cases.  While the reversal was not unexpected in light of recent appellate cases disallowing LILO/SILO tax benefits, the decision has had the perhaps unintended effect of calling into question the use of lessee fixed price purchase options in sale-leasebacks and other more conventional equipment leasing transactions. [Read more →]

Law360, Wilmington (October 17, 2012, 6:13 PM ET) — Satcon Technology Corp. on Wednesday became the latest alternative energy firm to seek shelter in Delaware bankruptcy court, with the solar power-conversion company filing for Chapter 11 as it looks to preserve operations and resolve its liquidity crisis in the face of a global economic downturn.

The Boston-based firm provides utility-scale conversion units that link solar generation plants to the local power grid and filed for bankruptcy along with its six wholly owned subsidiaries, its petition listing assets of about $92.3 million against liabilities of $121.9 million as of June 30. Click here to read the full article from Law360.