Hours before a technical conference on potential future pathways for solar development in New York State, the New York State Department of Public Service (“DPS”) unexpectedly updated the Environmental Value (“E-Value”) component of State’s Value of Distributed Energy Resources (“VDER”) Tariff “Value Stack.” However, the update was not the one advocated for by the solar industry based upon the December 2020 cost of carbon guidance from the State’s Department of Environmental Conservation (“DEC”),… More
As anticipated, the pace of change around the Climate and broader ESG landscape is accelerating rapidly. In this timely webinar, we discussed:
- The multiple market developments leading towards a rationalized corporate reporting system
- The role of the board and governance around the ESG agenda
- Practical steps to navigate the changing ESG landscape
Now, as a session law, Chapter 8 of the Acts of 2021 implements, without modification, the property tax reforms sought in the Act as it was earlier passed by the legislature.
The law makes several significant changes to Massachusetts law regulating cities’… More
As President Biden announces his blueprint for expanding the use of offshore wind (OSW) power, Massachusetts hopes to become an industry hub. Those plans will certainly be facilitated by the new federal OSW policies.
On March 29, the Biden administration published a major plan to mobilize offshore wind development, particularly along the East Coast. The plan aims to construct 30,000 megawatts of OSW generation by 2030,… More
This is the fifth in our First 100 Days series examining important trends in white collar law and investigations in the early days of the Biden administration. Our previous entry discussed investigations under the new Congress. Up next, a deep dive on liability under the False Claims Act.
As the Biden Administration began to take shape, many observers (including here at Foley Hoag) predicted that the SEC would move toward requiring standardized disclosures by issuers regarding their ESG risks and opportunities. … More
The White House this morning released a fact sheet on “The American Jobs Plan,” also known as President Biden’s infrastructure plan. There’s a lot in here (as there should be for a couple of trillion dollars!), so today I’ll focus on energy infrastructure. Here are the highlights:
- $100B to “build a more resilient electric transmission system.” This includes “the creation of a targeted investment tax credit that incentivizes the buildout of at least 200 gigawatts of high-voltage capacity power lines.”
- Creation of a “Grid Deployment Authority” within DOE to facilitate transmission line siting.…
In January, when Governor Baker vetoed the Legislature’s effort to go big on climate, my colleague Zach Gerson made clear that the bill was not even “mostly dead.” I am pleased to say that Zach’s diagnosis was correct. The climate bill is very much alive.
On March 10, 2021, the Massachusetts Department of Public Utilities (DPU) issued a memorandum regarding additional procedural steps in its distributed generation (DG) interconnection docket – D.P.U. 19-55. As we previously discussed, this docket seeks to investigate issues associated with interconnection of DG projects. As next steps for this docket, the DPU memorandum notes:
- Cost allocation considerations for DG interconnection costs will proceed under DPU docket 20-75;…
Climate risk is investment risk.
So says BlackRock. And when you manage $8.7 trillion, people tend to listen to what you say. I’ve been noting for some time that BlackRock’s statements seemed to presage increasing shareholder activism with respect to climate. And yet there have been skeptics. As noted in ClimateWire last week, BlackRock’s actions have not always seemed to match its rhetoric.… More
On January 22, 2021, the Massachusetts Department of Energy Resources (“DOER”) released a proposed procurement process for clean peak energy certificates. See our former posts on the clean peak standard final regulations and implementation for more information on the program. DOER is accepting comments on the proposed procurement process until February 19, 2021, and a DOER summarized Questions and Answers document is available here.… More