Offshore Wind — The Current State of Affairs
Renewable energy development and the “energy evolution” continue to make a splash in energy infrastructure, legislation, and investment. And, among renewable energy technologies, offshore wind may be set to catch the biggest wave. The United States — unlike Europe, which has an advanced offshore wind industry — has been slow to capitalize on the benefits provided by offshore wind farms. But the Biden administration is looking to catch up fast — calling for offshore wind capacity to double by 2030.
In this article, the authors explore the current and potential state of tax law concerning the development of offshore wind facilities, and they examine some practical, regulatory, and financial hurdles facing the offshore wind industry.
Read the entire article here.
This information is provided by Vinson & Elkins LLP for educational and informational purposes only and is not intended, nor should it be construed, as legal advice.