Energy and Clean Tech Connections (November 2010)
11/18/2010
In the November edition of Energy and Clean Tech Connections, we’ve gathered recent information from a wide variety of sources in an effort to keep you abreast of what’s new in the world of clean energy. We draw your attention to the latest industry developments, news from local governments to Capitol Hill, grant opportunities, and upcoming events.
This month, the Energy & Clean Technology Practice Group would like to congratulate Mintz Levin clients MTPV and Purpose Energy, and ML Strategies client Suniva. MTPV took the top prize at the NREL’s 23rd Annual Industry Growth Forum receiving the Best Venture award. After completion of the world’s first full scale biogas plant designed to digest spent grain from breweries, Purpose Energy was awarded a Section 1603 Grant-in-Lieu by the U.S. Department of Treasury. Also this month, Suniva participated in the U.S.-India Innovation Roundtable led by President Obama and was heralded by the President as an example of a U.S. business that is deepening trade relations with India. On November 19th, Thomas R. Burton, III, chairman of Mintz Levin’s Energy and Clean Technology Practice Group, will serve as a panelist at the MIT Sloan CFO Summit. The Summit was recently ranked the #2 event for non-CEO C-level executives by Weber Shandwick.
In international news, China continues to distinguish itself as the world’s preeminent destination for clean energy and technology investment. This month, General Electric announced plans to invest more than $2 billion in China over the next two years to strengthen its research and development capabilities throughout the country. GE will spend $500 million on R&D focused on the creation of innovation centers for renewable energy, smart grid, and energy efficient lighting schemes. It will also invest more than $1.5 billion in joint ventures with Chinese state-owned enterprises with the aim of improving smart grid and renewable power distribution capabilities in the region.
On Capitol Hill, while the political shift to the right resulting from the midterm elections is widely considered to be a bad omen for the clean energy community, there remain several opportunities for clean energy to move forward during the 112th Congress. These solutions which have enjoyed bipartisan support may be pushed through over the coming months: a renewable electricity standard, the extension of the 1603 Grants in Lieu of Tax Credits, the expansion and extension of the 48C Advanced Energy Manufacturing Tax Credit, funding for a HomeStar energy efficiency home retrofit program, and the establishment of a Green Bank. Last Wednesday, officials from the wind, solar, and geothermal industries met with the White House’s National Economic Council to discuss the extension of the 1603 and 48C tax credits as well as the creation of a renewable electricity standard.
We hope that you enjoy this month’s edition of the newsletter. For the most up-to-date information on federal legislation and programs, please click here to find the most recent ML Strategies Energy and Environment Update.
