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Lauren Collins is speaking on Dakota Ridge Capital's live virtual expert panel "Trumps Energy & Tax Policy 2025" on Thursday, December 5, at 11:30am ET.

On November 7, Vinson & Elkins hosted an Energy Transition and Inflation Reduction Act (IRA) Conference in its New York office.

On October 24, 2024, the Department of the Treasury (“Treasury”) and the Internal Revenue Service (the “Service”) issued final regulations (the “Final 45X Regulations”) regarding the Advanced Manufacturing Production Tax Credit (the “AMP Credit”) under section 45X of the Internal Revenue Code of 1986, as amended (the “Code”).

As Vinson & Elkins prepares to host its “Energy Transition and IRA Conference” in New York on November 7, 2024 (just two days after the upcoming presidential election), we ask ourselves, where have we been and where might we be going with the Inflation Reduction Act of 2022 (the IRA)?

On September 18, 2024, the Department of Treasury (the “Treasury”) and the Internal Revenue Service (the “IRS”) (1) issued proposed regulations (the “Proposed Regulations”) providing guidance to taxpayers on the Alternative Fuel Vehicle Refueling Property Credit available under section 30C of the Internal Revenue Code of 1986, as amended (“30C Credit”) and (2) released Notice 2024-64 (the “Notice”)¹ to correct certain technical issues related to mapping tools used to identify eligible census tracts for the 30C Credit.²

On September 23, 2024, the State of California filed a new greenwashing salvo against an oil major by filing a plastics-related lawsuit in the San Francisco County Superior Court.

On August 30, 2024, the Department of Treasury (the “Treasury”) and the Internal Revenue Service (the “IRS”) issued proposed regulations (the “Proposed Regulations”) providing additional guidance to taxpayers on the “Low-Income Communities Bonus” (“LICB”) available under section 48E(h) of the Internal Revenue Code of 1986, as amended.

On August 14, 2024, the United States Court of Appeals for the District of Columbia Circuit (“D.C. Circuit”) released a redacted copy of its opinion in Sinclair Wyoming Refining Co. LLC v. EPA,¹ in which the D.C. Circuit upended the U.S. Environmental Protection Agency’s (“EPA” or the “Agency”) overly restrictive treatment of the Renewable Fuel Standard (“RFS”) program’s small refinery exemption (“SRE”) and mostly vacated a series of denials issued by EPA in 2022 to companies petitioning for the SRE.

Identifying existing IP early in the innovation process helps companies evaluate project viability and provides greater leverage to negotiate possible licenses, agreements and business collaborations.

On May 29, 2024, the Treasury Department (the “Treasury”) and the Internal Revenue Service (the “Service”) issued proposed regulations (REG-119283-23) (the “proposed regulations”) regarding the clean electricity production tax credit and the clean electricity investment tax credit provided by the Inflation Reduction Act of 2022 (the “IRA”)¹ and available under new sections 45Y and 48E, respectively, of the Internal Revenue Code of 1986, as amended (the “Code”).

The story of artificial intelligence (“AI”) is one of technological promise and societal challenge, and its impact on the U.S. electric power grid is fast becoming a pivotal chapter.