Is Offshore Wind Power Riding a Rising Tide? Recent Offshore Wind Developments in the Northeast
New Federal Proposal Would Extend Investment Tax Credit
While the road is long for large-scale wind energy projects, earlier this year, two senators introduced the Offshore Wind Incentives for New Development Act. This act would extend the 30 percent investment tax credit under Section 48 of the Internal Revenue Code for offshore wind through 2025. A companion bill was also introduced and is pending in the House of Representatives. And it’s all about timing for future offshore wind projects.
John Cossa is an associate with Beveridge & Diamond PC. His practice focuses on issues related to the development of energy and mineral resources on federally-managed lands. He advises clients on matters related to the leasing and development of oil and gas, wind, solar, and mineral resources both onshore and on the Outer Continental Shelf. Mr. Cossa also counsels clients on compliance with applicable operations, environmental, and safety regulations, agency notices and orders.
Brook J. Detterman
Beveridge & Diamond, PC
Brook Detterman is an associate with Beveridge & Diamond PC. His practice encompasses both traditional environmental matters and emerging issues in the areas of energy and climate change. Brook's experience includes complex environmental litigation, transactional due diligence, and regulatory counseling, with a focus on the Clean Air Act, the Clean Water Act, the Comprehensive Environmental Response, Compensation, and Liability Act, and other state and federal environmental laws.
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