Tag Archives: Opportunity Zones

Morgan Stanley expects a surge of renewables, coal retirements

By Ethan Howland, American Public Power Association

Partly driven by falling renewable energy prices, at least 70,000 megawatts of coal-fired capacity could be shuttered this decade, on top of the 24,000 MW that is already set to retire, according to Morgan Stanley & Co. “We are at the start of a ‘second wave’ of renewables deployment and coal plant retirements, led by utilities that have historically not been leaders in decarbonization,” analysts with the investment firm said in a report released in December. Replacing coal with renewables could save consumers $3 billion to $8 billion a year, according to the report, The Second Wave of Clean Energy. It also represents a renewable energy investment opportunity of $93 billion to $184 billion, the analysts said. Read more here. 

IOWA CITY SCHOOLS’ CLIMATE ACTION PLAN

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CORPORATE CLEAN ENERGY PROCUREMENT

Clean Energy Deal Tracker: Don’t say Amazon isn’t doing anything — international PPAs on the rise, GreenBiz. Here are five trends and notable developments based on last quarter’s clean energy procurement deals. 

REGENERATIVE FARMING / REGENERATIVE ENERGY

NEW OPPORTUNITY ZONES TOOL

U.S. Economic Development Administration And Indiana University Launch New USA Opportunity Zones Tool, EDA January 2020 Newsletter

On January 14, EDA and Indiana University’s Kelley School of Business announced the launch of the USA Opportunity Zones tool. This new web-based tool will help local economic and community developers, investors, the more than 390 EDA-designated Economic Development Districts (EDDs), and others across the nation better target private investment to Opportunity ZonesAs economic development practitioners build their five-year Comprehensive Economic Development Strategies (CEDS), incorporating Opportunity Zones is a new and promising tool for further enhancing economic growth.

Colorado cooperative to hit clean energy goal a decade early

Written by Allen Best, Energy News Network

Holy Cross Energy is now looking toward complete decarbonization after striking a major new wind energy deal. The announcement last week illustrates just how rapidly the energy transition has been accelerating as prices of wind and solar have plummeted and engineers have figured out how to integrate them to the grid. Prices of the wind power were not disclosed, but Holy Cross described them as comparable to the bids received by Xcel Energy in its 2017 solicitation. Those jaw-dropping prices, $11 to $18 per megawatt-hour for wind generation, substantially below the cost of electricity from the two coal-fired power plants Xcel plans to close by 2025, drew national attention. But can Holy Cross get to 100% emission-free energy? Continue reading here.

Photo Credit: Paul D. Cocker / Creative Commons

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Entrepreneurs launch clean energy-powered affordable housing startup in Chicago

Written by Kari Lydersen, Midwest Energy News

[Robert “A.J.” Patton and Erica Johnson] are launching a company that they hope will provide quality housing to lower-income residents in Chicago, and avoid gentrification, by harnessing the potential of energy efficiency and solar. At the same time, they plan to provide jobs for low-income and minority residents who are disproportionately left out of the clean energy economy.

Patton said 548 will purchase buildings in marginalized, mostly minority neighborhoods on the South and West sides that have been deemed Opportunity Zones under the federal program meant to stimulate investment. That means if someone invests capital gains in projects in the zone, a portion of federal taxes is deferred or forgiven. Read more here.

Photo Credit: 548 Capital

Previously Posted 

 Nebraska Opportunity Zones

House and Senate Introduce Legislation for 5-Year Extension of the Solar Investment Tax Credit

Solar Energy Industries Association News Release

WASHINGTON, D.C. – Senator Catherine Cortez Masto (D-NV) and Representatives Mike Thompson (D-CA), Paul Cook (R-CA), and Brian Fitzpatrick (R-PA) have introduced companion bills with a five-year 30% extension of Section 48 and Section 25D Solar Investment Tax Credits (ITC). The Renewable Energy Extension Act will call for the extension of the tax credits.

Following is a statement from Abigail Ross Hopper, president and CEO of the Solar Energy Industries Association, urging lawmakers to pass this critical legislation:

Continue Reading Here.

MAYORS FOR SOLAR ENERGY

 

More than 250 mayors nationwide sign letter calling for increased solar power, Environment America News Release
Municipal leaders from all 50 states support more clean energy from the sun.


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NEBRASKA IN THE NEWS HERE

SOLSMART NEWS

Southwest Virginia Communities Achieve National Recognition for Advancing Solar Energy Growth, News Release, Appalachian Voices. Eight Southwest Virginia communities have achieved designation under the national SolSmart program for encouraging the growth of local solar energy markets, at a time when several major solar installations on schools, businesses, and community centers are poised to begin across the region. These communities were each awarded a SolSmart designation for taking local action to reduce the time and expense required to install solar energy systems. 

Opportunity Zones May Spur Microgrid Development

By Ken Silverstein, Microgrid Knowledge

Opportunity zones, created in the US as part of the 2017 Tax Cut and Jobs Act, are making a splash among green energy and microgrid investors.  “Opportunity zones create tax incentives for investors in real estate, businesses and assets in areas that might not otherwise draw investment,” says John Beidle, chief executive of New Energy Opportunities, in an interview with Microgrid Knowledge. “The further stacking of tax incentives in these areas for microgrid facilities is really a once in a lifetime opportunity especially if new employment is brought into these areas.”

An Economic Innovation Group analysis estimates $6.1 trillion in unrealized capital gains held by US households and corporations as of the end of 2017. “Even a small fraction of these gains reinvested into opportunity zones would make it the largest economic development initiative in the country,” says John Lettieri, founder of the group, in congressional testimony. Read more here.

Nonprofit Economic Innovation Group (EIG) Image: Opportunity Zones.

EIG is a bipartisan public policy organization that combines innovative research and data-driven advocacy to address America’s most pressing economic challenges. From their headquarters in the nation’s capital, EIG convenes leading experts from the public and private sectors, develops original research, and advances creative policy proposals that bring new jobs, investment, and economic dynamism to U.S. communities.

Additional Recommended Reading

Opportunity Zones Resources

Microgrid Knowledge Resources