Renewable Energy Services

The public demand for new and renewable sources of energy has resonated with entrepreneurs and politicians alike. In recent years, we have seen a new class of products and a new wave of incentives for companies and investors.

Barnes Dennig has a burgeoning practice in this area, and our abundant resources are at your disposal. Whether you are a business owner who would like to transition to a clean-energy operation or an investor looking for a growth market, our team of tax experts and business advisers can help you maximize the possibilities of renewable energy. We can assist in writing or reviewing a grant application, analyze your investment options and help you understand the federal and state tax incentives available while ensuring your assurance and tax needs are maintained.

Expertise

Our firm works closely with alternative energy-generating firms (independent power producers), governmental entities, and other governing bodies incorporated in the renewable energy industry.

Director John Michel has a deep knowledge of the industry, in addition to his expertise on tax-advantaged financing, which makes him an ideal point person for the often-complex energy projects. He recently facilitated half-day meetings between executives of two large, international manufacturers of photovoltaic cells. The meetings involved discussions on supply chain improvements, domestic and global expansion plans, current and projected supply-and-demand curves, industry sustainability, government and other subsidy in the global market, competitive analysis, product pricing and nation-by-nation consumer demand for global and domestic panel production.

Barnes Dennig professionals also have experience with Renewable Identification Number (RIN) attest engagements, which are required of all entities that own or generate RINs. Our staff remains abreast of EPA regulations and can offer insights that allow you to track RINs more efficiently and reduce your risk.

Resources

Solar energy is a hot topic, literally and figuratively. There is significant public sentiment for increasing our use of renewable energy, and there are significant financial incentives for increasing our production of renewable energy. Read more.

• Section 1603 grants of more than $500,000 require an examination by an independent accountant. Barnes Dennig will conduct those examinations and help you file the necessary paperwork.
• View a sample structure for financing a solar energy project. Read more.

For insight into the federal tax treatment of alternative energy production companies, click here for details on reporting income and click here for details on reporting information.

Compressed Natural Gas, or CNG, is a more-application-friendly version of natural gas, and it has been widely overlooked in many energy policies. Read more.

If you are generating your own electricity, click here for the Public Utilities Commission's customer guide for interconnection.

The Barnes Dennig blog, Beyond the Books, is updated regularly with information relevant to renewable energy.

Legislative / Regulatory Updates

Because the alternative-energy industry is growing and evolving so rapidly, new laws are being proposed, debated and enacted frequently. Barnes Dennig's team of tax experts and business advisers are monitoring the changes and will keep you informed of any potential impact.

Below is a look at recent legislative activity affecting the industry:

• Ohio SB 221 (127^th Assembly)
  • Requires that by 2025 at least 12.5 percent of electricity sold in Ohio must be generated by renewable sources. Local utilities can purchase Solar Renewable Energy Certificates (SRECs) in order to meet that guideline. 
  • http://www.lsc.state.oh.us/analyses127/08-sb221-127.pdf
  • Legislation has been enacted
• Ohio SB 232
  • Renewable energy tangible personal and property tax exemption.  Click here for more details. 
  • http://www.lsc.state.oh.us/analyses128/10-sb232-128.pdf
  • Legislation has been enacted
  • On September 29, Gov. Ted Strickland signed an executive order which immediately implemented the changes established by SB 232, rather than waiting for a certification process to be created.
• Ohio HB 113
  • Promotes the use of solar energy in Ohio schools through a Renewable Energy Schools Pilot Program.  Establishes that schools with more than 5,000 students will be required to install a renewable energy system within three years of bills enactment. 
  • http://www.lsc.state.oh.us/analyses128/h0113-rh-128.pdf
  • Legislation is pending
• Ohio HB 301
  • Would set the amounts of the advanced energy rider in statute and extend it until January 1, 2025.  The current rider is set to expire January 1, 2011 thus eliminating funding to the Advanced Energy Fund used to fund statewide grants in renewable energy projects. 
  • http://www.lsc.state.oh.us/analyses128/h0301-i-128.pdf
  • Legislation is pending
• Federal H.R. 5931
  • Extension of the section 1603 grant in lieu for alternative energy 30% federal grant.  Also expands credit to manufacturers and land designated for solar array systems. 
  • http://www.govtrack.us/congress/bill.xpd?bill=h111-5931
  • Legislation is pending.
• Federal S. 3629
  • Federal rebates for natural gas vehicles (NGV) based on size.  Also grant monies available for qualified refuelers that install natural gas refueling property. 
  • http://www.govtrack.us/congress/bill.xpd?bill=s111-3629
  • Legislation is pending