Does the New Federal Waste Energy/Industrial Efficiency Incentive Program Make Sense for Your Company?
By Bill DeGrandis and Tracey B. Steiner
This article provides legal and practical information to help your companys management decide whether to devote resources to investigate this EISA program further. It also discusses financial and other incentives available under the Acts industrial waste energy programs and how to apply for them, highlighting certain legal/regulatory issues that your company will want to consider. Such implications include owning or operating power plants that qualify under this EISA program which may subject your company to regulation as a public utility at the state or federal level or both and as a public utility holding company at the federal level. As described further, your company can take practical steps to eliminate or significantly mitigate any such regulation, but failure to take precautionary measures could unnecessarily subject your organization to extensive regulatory requirements.
This Article appeared in the Association of Corporate Counsel Docket, which we understand has the widest circulation of any publication dedicated to in-house legal staffs. The article discusses waste energy incentives under the Energy Independence and Security Act of 2007 (EISA) and its implementing regulations, which are still being developed. The article is geared toward any type of corporation that produces waste in its operations, and the incentives available under the EISA for companies that convert their waste into usable thermal and electric energy. Many corporations now have corporate objectives of reducing their carbon footprint and reducing environmental impacts. Developers, lenders and investors may also be interested in joint venture opportunities, especially because many of these affected companies are likely not versed in energy project development and financing. Reprinted with permission: Steiner & DeGrandis, "Does the New Federal Waste Energy Industrial Efficiency Program Make Sense for Your Company?", ACC Docket Vol. 27, No. 2, pp. 58-66, copyright 2009, Association of Corporate Counsel. All rights reserved.