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Renewable Energy Tax Credits News Briefs - May 2013

The U.S. Department of the Treasury on April 3 released inflation adjustment factors and reference prices for renewable electricity production for calendar year 2013. The availability of renewable energy tax credits is determined by inflation adjustment factors and reference prices. Internal Revenue Code (IRC) §45 determines the renewable electricity production credit for any taxable year to be an amount equal to the product of 1.5 cents, multiplied by the kilowatt-hours of electricity produced by the taxpayer. The reference price for 2013 for facilities producing electricity from wind is 4.53 cents per kilowatt hour. The reference prices for fuel used as feedstock are $58.23 per ton. Reference prices for facilities producing electricity from closed-loop biomass, open-loop biomass, geothermal energy, solar energy, small irrigation power, municipal solid waste, qualified hydropower production, and marine and hydrokinetic renewable energy have not been determined for calendar year 2013. Visit for details.


Michael R. Faber joined Cooley LLP in March as partner, and will be based in the New York office. Faber will be part of the company’s tax practice. He previously worked for Wilson Sonsini Goodrich & Rosati, where he worked on mergers and acquisitions, as well as general tax matters. Faber’s education includes an undergraduate degree from the University of California, Berkeley, a J.D. from the University of the Pacific, McGeorge School of Law, and an LL.M. from New York University. Cooley’s business department also added partners to three California offices: Tom Hopkins and Ian Smith in Los Angeles; Jamie Leigh in San Francisco; and Kevin Rooney and Louis Lehot in Palo Alto.


The Government Accountability Office (GAO) released a report in January, “Agencies Have Taken Steps Aimed at Improving the Permitting Process for Development on Federal Lands.” The report discusses the value of producing renewable energy, the benefits of permitting production on federal lands and ways to make the permitting process more efficient. The report can be viewed at


Tennessee Rep. Randy McNally introduced S.B. 1000, a bill that would, set guidelines for the valuation of property used to generate electricity from renewable sources. The proposed bill would make changes to the existing Tennessee law, Tennessee Code Annex Section 67-5-601(e). The law currently requires that public utility property using wind as an energy source to generate electricity be initially valued at a maximum of one-third the total installation costs. The amendment requires such property to have a maximum of 33 percent initial value of the total costs, and property using solar energy to be initially valued at a maximum of 12.5 percent. Attorney General Robert Cooper stated that the proposed amendment does not put a cap on property appraisals, but merely requires the comptroller and local assessors to consider the General Assembly’s findings in appraising the property.


Ballard Spahr’s Washington, D.C. office added a new member to its Energy and Project Finance Group in April. Andrea J. Chambers, who has more than 20 years of experience, became a partner in the finance group and will provide knowledge of policy, regulatory and compliance matters for energy industry clients. Chambers earned a B.A. from Georgetown University, and a J.D. from American University, Washington College of Law. She has been a member of the Energy Bar Association, serving as treasurer and assistant treasurer, and is co-chair of the Renewable Energy Committee. Chambers also worked in Federal Energy Regulatory Commission (FERC) litigation.

Journal Category:

Renewable Energy Tax Credits



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