Energy & Sustainability

When President Biden’s signature Build Back Better Act faltered last year, many viewed the effort to be a failure. However, negotiations continued before Senate Majority Leader Chuck Schumer (D-NY) and Sen. Joe Manchin (D-WV) announced the package in late July. Nearly half of the $737 billion in revenue will be invested in clean energy and includes many direct funding opportunities in the form of grants, loans, and rebates focused on climate, energy, and energy efficiency. 

Read about the Inflation Reduction Act of 2022 enacted August 16, 2022, which extends and expands existing tax credits and adds several new energy tax credits to encourage the production of electricity using clean energy and the reduction of carbon emissions.

Our August 2022 Energy & Sustainability Washington Update covers the Inflation Reduction Act, a pending Senate bill calling for significant investments in energy security and addressing climate change, and Bipartisan Infrastructure Law opportunities issued by the US Department of Energy.

Our July 2022 Energy & Sustainability Washington Update covers the Democrats’ continued push for a revised Build Back Better Act, a letter from House Democrats to the SEC on climate risk disclosure issues, the strong growth of energy jobs, new energy & sustainability legislation, and more.

There is no “one size fits all” approach with respect to board responsibility for ESG oversight, say Mintz attorneys Megan Gates, Jacob Hupart, and Jen Rubin. Some may form a new committee, some may give the duties to an existing committee, or still others might have each board member assume all ESG responsibilities. In any case, they say, investors are raising the stakes on ESG matters.

Read about energy legislation and energy policy news, including President Biden’s FY 2023 request for $48.2 billion for the DOE, the Senate Climate Change Task Force’s proposal for energy independence, and the EPA’s Clean Air in Buildings Challenge.

On December 30, 2021, the Massachusetts Department of Public Utilities issued an order doubling the Solar Massachusetts Renewable Target (SMART) program. The order extends the declining block incentive program from 1,600 to 3,200 MW of solar capacity – a move expected to create capacity for new projects and release a bottleneck of stagnant projects.

In the past several months, lawmakers in both the United States and the European Union have introduced legislation to enact carbon border adjustment mechanisms (CBAMs) in their respective jurisdictions. While the US and EU proposals face roadblocks to their adoption (in the US) and full implementation (in both the US and EU), these two landmark initiatives signal a potential shift toward the usage of novel legal and regulatory tools – in this instance from the field of international trade – to promote climate policy.

Energy-as-a-Service (EaaS) is a rapidly growing business model in which energy service providers offer an assortment of energy-related services to customers. In contrast to the traditional energy model of simply charging customers based upon the number of kWh of electricity used, EaaS business models can include services ranging from energy-related advice to energy equipment installations to energy management.

Read the latest energy policy updates coming out of the Capitol, including critical energy provisions in the Biden administration’s budget proposal