Beneficial Electrification League

June Update

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New IRS Guidance on Tax Incentives: Join our Webinar to Learn About the Implications for Co-ops and Munis! 

The IRS has released the long-awaited "Guidance on Elective Payments and Transfers of Certain Credits." 

 

On June 20, at 2:30 p.m. EDT, the Beneficial Electrification League (BEL) and the Tax Law Center at NYU will be reviewing the new guidance on direct pay tax incentives in a webinar. Register here.

 

For years, tax-exempt utilities could not take advantage of federal tax incentives intended to spur clean energy development. With the passage of the Inflation Reduction Act (IRA), rural electric cooperatives, municipal utilities, and Tribal governments now have access to these generous incentives. 

 

BEL and NYU’s Tax Law Center experts will explore the mechanics of direct pay incentives and shed light on how these incentives can inform decisions on infrastructure investment. This webinar will be focused on electric sector investment, particularly related to electric cooperative and municipal utilities. 

USDA's Rural Utilities Service Heads to Kansas and Nebraska to Discuss PACE and New ERA


On May 16, the U.S. Department of Agriculture’s Rural Utilities Service (RUS) announced $10.7 billion in federal funding for two new programs: Empowering Rural America (“New ERA”) and Powering Affordable Clean Energy (PACE). 


Chris McLean, U.S. Department of Agriculture Assistant Administrator, is heading to Wichita, Kansas, and Lincoln, Nebraska, to brief utility leaders on both programs.



At the meetings, which are intended for cooperative, municipal, and Tribal utility staff, McLean will explain the programs, including eligibility requirements and how to participate.


PACE offers $1 billion in RUS loans for renewable energy infrastructure. The Inflation Reduction Act (IRA) requires the agency to forgive up to 50% of the loan amount. Eligible entities include electric service providers, including municipal, cooperative, investor-owned, and Tribal utilities.


New ERA offers up to $9.7 billion for loans, grants, loan modifications, and other financial assistance to support the purchase of renewable energy systems, zero-emission systems, and carbon capture systems. Funding also may be used to deploy these systems or to make energy-efficiency improvements to generation and transmission systems of eligible entities.


New Resources! Analysis and Tools for Utilities Exploring RUS Funding Opportunities 


BEL has new resources for utilities as they consider whether to participate and, if the answer is yes, start drafting a Letter of Interest – the first step in applying for the new funds. 


USDA FUNDING SUPPORT RESOURCES

  • Program overviews 
  • Letter of Interest templates 
  • Maps to determine PACE funding eligibility (levels of loan forgiveness) 
  • Links to key USDA tools and resources 


Collaboration Will be Key to Winning Electric School Bus Grants 

 

The Environmental Protection Agency’s (EPA’s) Clean School Bus grant program is accepting grant applications for new electric buses until August 22. Details of the program are in the EPA’s Notice of Funding Opportunity.


Under the program rules, school district applicants must request between 15 and 50 school buses, and third-party applicants must request between 25 and 100 school buses. 


As with last year’s rebate program, rural school districts are prioritized; however, the definition of rural is narrower: school districts identified with locale code “43-Rural: Remote” by the National Center for Education Statistics (NCES). 


For more information, contact Tracy@be-league.org. 

BEL President Keith Dennis and other members of the WRI Electric School Bus Initiative Advisory Council standing with a new Fairfax County electric school bus.

Thank you, BEL sponsors! 

For information on sponsorship of BEL, please click below.

Learn About Sponsorship

BEL is a 501(c)3 organization. 

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