Congress was in recess for the month of October for the final push toward the November 8 midterm elections, but executive branch activities related to energy and sustainability have continued.
Treasury & IRS Seek Public Input on IRA Tax Incentives
In early October, the Treasury Department and Internal Revenue Service announced six notices requesting public input on key climate and energy tax incentives in the Inflation Reduction Act (IRA). As noted by Treasury, nearly three-quarters of the IRA’s climate change investment is delivered through tax incentives. A fact sheet on Treasury and IRS implementation of IRA can be found by clicking HERE.
The six notices cover energy generation incentives, credit enhancements, incentives for homes and buildings, consumer vehicle credits, manufacturing credits, and credit monetization. Click HERE to access the notices.
Treasury Roundtable on Clean Power Generation and the Inflation Reduction Act
As part of a planned series of events to solicit input on the implementation of the IRA, Treasury Secretary Janet Yellen joined a roundtable discussion on October 26 focused on clean power generation. She was joined by White House Senior Advisor for Clean Energy Implementation and Innovation John Podesta, as well as Treasury Climate Counselor John Morton and Assistant Secretary for Tax Policy Lily Batchelder. For a readout of the event, click HERE. Future roundtable discussions will focus on other sectors, including clean vehicles and heavy industry.
Energy Department Makes Awards for Domestic Battery Manufacturing
The Department of Energy has announced the first round of Bipartisan Infrastructure Law funding for projects to expand domestic manufacturing of batteries for electric vehicles and the electrical grid and for materials and components currently imported from other countries. Click HERE to read more about the selectees.
GSA and DOE Seek Input on Achieving Net-Zero Carbon Buildings
For the FY23 Green Proving Ground program, the U.S. General Services Administration (GSA), in collaboration with the U.S. Department of Energy (DOE), has released a request for information (RFI) about technologies that will help achieve net-zero carbon buildings. The RFI is focused on emerging technologies that improve operating efficiency and promote healthy workplaces, enable whole building electrification, facilitate GHG and carbon reduction, provide on-site energy generation and storage systems, and deliver electric fleet and load management solutions. Read more by clicking HERE.
Bipartisan Infrastructure Law Opportunities
Over the next five years, the Bipartisan Infrastructure Law will stand up 60 new DOE programs, including 16 demonstration and 32 deployment programs, and expands funding for 12 existing Research, Development, Demonstration, and Deployment (RDD&D) programs.
In November, DOE announced the following funding opportunities:
- Rural and Municipal Utility Advances Cybersecurity Grant and Technical Assistance Program (Request for Information) to inform DOE’s implementation of the Rural and Municipal Utility Advanced Cybersecurity Grant and Technical Assistance (RMUC) Program. The goal of the RMUC Program is to enhance the security posture of rural, municipal, and small investor-owned electric utilities through investments in operational capabilities, services, technology deployments, and increased participation in threat intelligence information sharing programs. Responses are due by December 19, 2022.
- Front-End Engineering Design (FEED) Studies for Production of Critical Minerals and Materials (CMM) from Coal-Based Resources (Notice of Intent) announcing an upcoming Funding Opportunity Announcement (FOA). DOE expects to award up to $32 million with a minimum 20% cost-sharing from awardees. The FOA is expected in the first quarter of calendar year 2023.
- Energy Improvement in Rural or Remote Areas (Request for Information) seeking public input to help inform DOE’s program implementation strategies and funding processes to support energy improvements in rural or remote areas. The Energy Improvement in Rural or Remote Areas Program is designed, in consultation with the Department of the Interior, to provide financial assistance to improve, in rural or remote areas of the United States, the resilience, safety, reliability, and availability of energy; and environmental protection from adverse impacts of energy generation.
- Funding for Hydropower (Funding Opportunity Announcements) across three FOAs totaling more than $28 million to support research and development projects that will advance and preserve hydropower as a critical source of clean energy. The funding will support the expansion of low-impact hydropower (such as retrofits for dams that do not produce power) and pumped storage hydropower, the development of new pumped storage hydropower facilities, and engagement with key voices on issues like hydropower fleet modernization, sustainability, and environmental impacts.
As implementation of the Bipartisan Infrastructure Law and Inflation Reduction Act continues, ML Strategies professionals, along with our colleagues at the Mintz law firm, welcome the opportunity to answer any questions about how these landmark laws may impact your business or organization.