United States: Renewables

North American renewable energy financing is experiencing unprecedented growth, driven by AI-powered data centers demanding massive electricity capacity and federal tax credit deadlines creating urgency for project completion. With hyperscalers investing hundreds of billions in infrastructure and battery storage emerging as a critical asset class, lenders and investors face both immediate opportunities from deadline-driven deal flow and long-term prospects from sustained grid modernization needs.

The USDA's Rural Business-Cooperative Service has finalized significant revisions to its Biorefinery, Renewable Chemical, and Biobased Product Manufacturing Program, introducing new safeguards designed to prevent fraud and ensure long-term project viability. These changes will impact how loan guarantees up to $250 million are administered for facilities developing advanced biofuels and renewable chemicals.

California's renewable energy sector continues to advance with breakthrough geothermal technology at The Geysers promising to unlock over 200 MW from idle wells, while Peak Energy prepares to launch America's first sodium-ion battery gigafactory in Sacramento. Major solar and storage projects across the state are moving forward, including the 600-acre Starlight Solar project and Terra-Gen's expanded 365 MW Lockhart facility, as the Department of Energy releases its draft National Transmission Needs Study to

As battery storage technology advances and applications multiply, the critical question shifts from capability to strategic prioritization. While tax credits face new restrictions and market conditions evolve, one underutilized application stands out: integrating battery energy storage systems into long-term transmission planning under FERC Order 1920 to modernize grid infrastructure and optimize renewable energy delivery.

Baker Botts Partner Michael Harrison examines the global drive toward net-zero greenhouse gas emissions through P2N0, a monthly publication tracking policy developments and project advancements. This edition provides concise summaries of major international news items focused on the transition to net-zero emissions.

The U.S. Department of Energy's Alternative Fuels and Feedstocks Office will conduct a comprehensive peer review of its bioenergy and hydrogen technology portfolio in April 2027. Technical experts from industry, academia, national laboratories, and federal agencies will evaluate active research projects and exchange insights on cutting-edge developments. The independent feedback will shape future investment decisions and research priorities in domestic feedstocks, fuels, and chemicals production.

A federal court has vacated IRS Notice 2025-42, which had eliminated the long-standing 5% Safe Harbor for wind and solar facilities seeking renewable energy tax credits. The ruling found the IRS failed to adequately justify this policy shift or address industry reliance on the safe harbor, effectively restoring its availability for taxpayers pursuing clean energy projects. The decision raises critical questions about how agencies must balance policy changes against established industry practices and relianc

During the 2026 ACORE Finance Forum, McDermott’s co-head of Energy & Project Finance, Ed Zaelke, moderated a panel on “Making Markets: Sources of Capital to Meet the Challenge” with Alain Halimi of Nomura...

As the United States grapples with unprecedented electricity demands from AI data centers, electric vehicle adoption, and industrial electrification, the nation faces a critical infrastructure crossroads.