The U.S. Treasury Department and the Internal Revenue Service extended the renewable energy tax credit window on Wednesday May 27th. As a result, renewable energy facilities will have more time to qualify for production tax credits (PTCs) and investment tax credits (ITCs). The plan extends the Continuity Safe Harbor for projects that began construction in…
The number of active oil and natural gas drilling rigs in the United States reached an all-time low on May 15th, when there were 258 oil rigs 79 gas rigs, according to Baker Hughes data. Baker Hughes has been tracking rig counts since 1987. Oil rigs saw the steepest decline, due to a sharp decrease…
The economic shutdown related to the Coronavirus pandemic has caused a decline in energy demand throughout the US. As a result of the lower demand, combined with low natural gas prices and mild weather, coal-fired generation is being called on less-frequently, keeping retirement of 9,038 MW-worth of that generation on track for 2020. According to…
Forecasts by the Solar Energy Industries Association (“SEIA”) and Wood Mackenzie Power & Renewables show that the US would add an additional 82 GW of solar capacity by 2030, if Congress maintains the solar Investment Tax Credit (“ITC”), on top of the 227 GW already expected. 113,000 additional jobs and $87 billion in additional investment…
