On Sept. 16, 2022, the Department of Commerce (DOC) issued its final rule effectuating a two-year moratorium on tariffs on certain solar cells and modules exported from Cambodia, Malaysia, Thailand and Vietnam.

As discussed in McGuireWoods’ June 7, 2022, alert, “President Biden Orders Tariff Exemption for Solar Panels,” President Biden’s Proclamation 10414 issued on June 6, 2022, declared an emergency and authorized the Secretary of Commerce to allow the importation of solar cells and modules exported from Cambodia, Malaysia, Thailand and Vietnam for up to two years.
Continue Reading Department of Commerce Issues Final Rule Imposing Tariff Moratorium for Solar Panels

On Aug. 16, 2022, President Biden signed into law the Inflation Reduction Act of 2022 (IRA), which includes new and revised tax incentives for clean energy projects. The IRA extends and significantly modifies the federal tax credits available for wind energy projects. This alert provides a summary for the wind industry. Additional alerts will provide summaries of the IRA focused on other clean energy technologies.
Continue Reading Inflation Reduction Act Extends and Modifies Tax Credits for Wind Projects

On July 27, 2022, U.S. Senate Majority Leader Chuck Schumer (D-N.Y.) and Sen. Joe Manchin (D-W.V.) introduced the Inflation Reduction Act of 2022, which proposes new and revised tax incentives for clean energy. The bill incorporates many, but not all, of the original proposals from last year’s Build Back Better Act. 
Continue Reading U.S. Senate Introduces the Inflation Reduction Act

On July 27, 2022, New York Gov. Kathy Hochul announced the release of the state’s third offshore wind solicitation. With this request for proposals (RFP), New York looks to secure at least 2,000 MW of additional offshore wind power generation — expanding on New York’s already approximately 4,300 MW generation portfolio and further positioning the state to meet its goal of at least 9,000 MW of offshore wind by 2035.
Continue Reading Gov. Kathy Hochul Releases New York’s Third Competitive Offshore Wind RFP Solicitation

Did you miss our July 14, 2022 webinar?

McGuireWoods is organizing a series of webinars and events for utilities, private equity, independent sponsors, energy developers and other market participants pursuing energy investments in the North American offshore wind sector.

Continue Reading Webinar Replay: Offshore Wind Market Update and Supply-Chain Investment Opportunities

Yesterday, June 6, 2022, President Biden ordered various emergency measures to combat a shortage of solar modules and related components in the United States, including declaring a tariff exemption of up to two years on certain solar cells and modules exported from Cambodia, Malaysia, Thailand and Vietnam.
Continue Reading President Biden Orders Tariff Exemption for Solar Panels

On March 28, 2022, the U.S. Department of Commerce (DOC) announced it is investigating whether imports of solar panels assembled in Cambodia, Malaysia, Thailand and Vietnam are circumventing duties intended to limit imports of solar cells and panels from China, in violation of anti-dumping rules. The announcement of an investigation is already impacting current and future solar developments using crystalline silicon photovoltaic cells (CSPV).
Continue Reading U.S. Department of Commerce Investigation of Solar Panel Imports Puts Solar Projects at Risk

Did you miss our March 29, 2022 webinar?

McGuireWoods is organizing a series of webinars and events for private equity and independent sponsors pursuing energy investments and capital providers interested in independent sponsor-led energy deals.

Continue Reading Webinar Replay: Energy Private Equity and Independent Sponsors Virtual Roundtable Investments in Solar

On March 25, 2022, the Biden-Harris administration issued a press release announcing a May 11, 2022, wind energy auction of 110,091 acres in the Carolina Long Bay offshore wind energy area off North Carolina’s coast. This announcement marks a tangible step closer to the Biden-Harris administration and state of North Carolina’s clean energy goals of achieving 30 GW and 2.8 GW, respectively, of offshore wind power by 2030.
Continue Reading Biden’s Path to Clean Energy: May 11 North Carolina Offshore Wind Lease Auction

The beginning of 2022 has dealt most markets a difficult hand. Many industries are grappling with increased production and shipping costs, supply chain constraints, rising inflation and increased volatility — and the solar energy industry appears to be no exception.
Continue Reading Feeling the Heat: Solar Projects Face Rising Costs and Increased Uncertainty