On August 1, 2016, the New York Public Service Commission approved the state’s plan to achieve fifty percent of its generation needs from renewables. In so doing, New York joins a handful of other states (including California Hawaii and Vermont) with ambitious clean energy goals at or above the fifty-percent mark.
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ITC for Energy Storage under Consideration
Energy storage is considered the next frontier in the renewable energy world. For certain energy storage systems, the ITC can serve as a valuable financial incentive that could help promote the widespread adoption of storage.
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FERC Order 745 Affirmed by the United States Supreme Court
On Monday, January 25, 2016, the U.S. Supreme Court issued a decision in FERC v. Electric Power Supply Assn affirming the validity of FERC Order 745, which provides for compensation to consumers for using less power during peak demand periods. The decision overturns the ruling in the D.C. Circuit case, EPSA v. FERC (May 27, 2014) that held that the FERC rule usurps state authority over retail electricity markets.
FERC Order 745, also known as the demand response rule, was issued in March 2011 with the goal of encouraging the participation of demand resources in wholesale markets administered by FERC. Such demand response participants, typically large consumers such as industrial consumers, factories, local utilities or large groups of electricity users, are compensated for reducing or abstaining from energy use during high demand periods by being able to bid such reduced energy consumption on the wholesale market at the same wholesale Locational Marginal Prices (“LMP”) as generating resources. By allowing compensation of demand resources for reduced consumption, the wholesale market operates more competitively, thereby benefitting electricity customers and increasing the reliability of the grid.
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Calif. Senate Passes Climate Package Aiming for 50% Renewable Power, Halving Petroleum Use
California’s Senate yesterday accelerated the state’s push for clean energy, passing a bundle of climate bills that aimed to shrink sharply greenhouse gas emissions, increase renewable power to 50 percent of electricity and chop in half petroleum use by 2030.
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SOUTHERN CO. TEAMS WITH TESLA ON POWERWALL
The Atlanta Business Chronicle (5/28, Couret, Subscription Publication, 130K) reports that “at its annual stockholders meeting on Wednesday,” Southern Company reported that it has entered into an agreement with Tesla to “test commercial-scale battery storage.” The article points out in addition to residential solar applications, Tesla’s recently announced Powerwall battery products “also allow owners of
Energy Partner John Leonti named to Law 360 Project Finance Editorial Advisory Board
For a 2nd year now, TS Energy Partner John Leonti has been named to Law 360 Project Finance Editorial Advisory Board. As a member of this group, John will offer feedback on Law360’s coverage and to provide insight as an expert in the field on how best to shape future coverage. John was a member
The 2014 Troutman Sanders Renewable Energy Market Recap is here!
In 2014, we at Troutman Sanders were honored to have represented our clients in some of the most cutting-edge and exciting renewable energy projects in the United States. Our reach spanned 19 states and accounted for approximately 3,000 MWs.
As we enter 2015, we are taking a look back at the biggest trends and challenges
Southern California Edison Enters Into Momentous Energy Storage Agreements
On November 5, 2014, Southern California Edison (“SCE”) announced that it entered into contracts for 2,221 MW of power to satisfy its customers’ demand, including contracts for 262 MW of long-term storage capacity. The energy storage agreements were in response to the California Public Utilities Commission’s (“CPUC”) rulemaking that set energy storage targets for investor-owned utilities in the State of California.
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Solicitation for Federal Loan Guarantees for Renewable Energy Projects Published
On July 3, 2014, the U.S. Department of Energy Loans Program Office published a solicitation for Federal Loan Guarantees for Renewable Energy Projects and Efficient Energy Projects. Under the solicitation, eligible projects include Renewable Energy Projects and Efficient Energy Projects that implement “new or significantly improved technology” and “avoid, reduce, or sequester” the emission of greenhouse gases or other air pollutants, as required by the Energy Policy Act § 1703 (42 U.S.C. § 16513). The solicitation makes available $2.5 billion of loan guarantees “plus an additional amount that can be imputed based on the availability of an appropriation for the credit subsidy cost of such imputed loan guarantee authority.” DOE estimates that the total available loan guarantee authority will be “as much as $4 billion…”
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Brian Harms pens Energy Storage article in North American Clean Energy Magazine
Brian Harms, Energy Partner in Troutman Sanders’ Atlanta office, has written an article entitled, “Energy Storage in the Spotlight, Finally a chance to shine” in the March/April issue of North American Clean Energy. The article discusses the potential for energy storage to become a more integral part of energy policy because of recent