U.S. Energy & Infrastructure Update

Explore our U.S. Energy & Infrastructure Group's latest update covering the most critical developments impacting renewables, hydrogen and other decarbonization/energy transition technologies, infrastructure, batteries and storage. In this issue:

• U.S. Department of Energy and Treasury Department Advance Clean Hydrogen Incentives. On December 22, 2023, the U.S. Treasury Department issued long-awaited proposed regulations detailing the implementation of the Clean Hydrogen Tax Credit.
• U.S. Treasury Department and Internal Revenue Service Issue Additional Guidance Regarding Sustainable Aviation Fuel Credits. On December 15, 2023, the U.S. Department of the Treasury and the Internal Revenue Service published Notice 2024-6 for the new Sustainable Aviation Fuel tax credit established by the Inflation Reduction Act of 2022, providing guidance on additional safe harbors for calculating the lifecycle greenhouse gas emissions reduction percentage using the Environmental Protection Agency’s Renewable Fuel Standard program and related guidance.
• Continued Growth in Battery Manufacturing Incentives. In December 2023, the U.S. Treasury issued proposed regulations for the advanced manufacturing production tax credit, offering clarity on eligibility, cost calculation, claiming procedures and related party sales for manufacturers of renewable energy parts and critical minerals. 
• FERC Blanket Authorizations for Investment Companies Under Review. On December 19, 2023, the Federal Energy Regulatory Commission issued a Notice of Inquiry seeking comments on whether – and, if so, how – the Commission should revise its policy on providing blanket authorizations for holding companies, including investment companies, under Section 203(a)(2) of the Federal Power Act.
• New York Identifies Additional Public Policy Transmission Needs. On April 4, 2024, the New York Independent System Operator released a formal solicitation for transmission solutions to integrate at least 4.77 GW of new offshore wind output into New York City. Responses are due by June 3, 2024.