Energy Evolution, Episode 1

Weaver’s Energy Evolution vlog series explores various federal programs, carbon sequestration and fuel-related questions under the Inflation Reduction Act (IRA). Our hosts, Leanne Sobel, Dawn Rhea and Tony Miller, discuss ways to maximize tax credits for renewable diesel, sustainable aviation fuel, biodiesel and more. From structuring credits to transferring direct pay, our insights provide guidance to businesses of all sizes on the complex world of tax incentives within the Inflation Reduction Act.

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Detailed Description of Weaver’s Energy Evolution, Episode 1

00:00:00

Leanne: Hi, everyone. I’m Leanne Sobel. A lot of you know me from Weaver’s Motor Fuels Tax Minute and I’m here today to introduce to you Weaver’s newest vlog. This is Energy Evolution, a series of vlogs on the Inflation Reduction Act by our team here at Weaver. It’s myself and my colleagues that you’ll see here, Dawn Rhea and Tony Miller.

I’ll be handling a lot of the fuel-related questions through the Inflation Reduction Act, all those things in 45D, such as your renewable diesel, sustainable aviation fuel, biodiesel, superfund tax, which is already out there, the reintroduction of the hazardous superfund tax added to the oil spill tax, clean fuel credit, blend credit, and some of the USDA production credits.

You’ll be hearing from me on those issues as they come up from time to time. Probably later in the year as some of these are newer, coming in 2025.

My colleague, Dawn, covers a lot of the issues that are front and center right now in 2023.

00:01:01

Dawn: Thank you, Leanne. My name, as Leanne said, is Dawn Rhea. I am a tax partner here at Weaver and covering exactly what Leanne said, a lot of the hot topics surrounding the Inflation Reduction Act credits, specifically focusing on the structuring of the credits, really looking to transferring direct pay, all the fun stuff that guidance is currently rolling out.

Right now, we’re working on production tax credits, the ITC’s, advanced manufacturing credit, the advanced property credit, as well as literally thinking about how these projects can qualify for bonus amounts that are prevailing wage and apprenticeship, the domestic content, energy communities, while these projects are just kind of getting off the ground and funding. So that whole host of credits and how they evolve for the project.

We will be focusing on these and several other areas, including what we’re seeing in the market around these projects in forthcoming vlogs.

I’d like to turn it over now to our third colleague member, Tony Miller.

00:02:08

Tony: Thank you, Dawn. Thank you, Leanne. Happy to be here, really excited to talk to everybody out there about all these different things that are coming out in the Inflation Reduction Act. As Dawn and Leanne said, my name is Tony Miller. I’m a director here at Weaver in the Energy Compliance Services group. I’ll be focusing a lot on different federal programs, permitting, things related to carbon sequestration, utilization, as well as the life cycle modelling that will come in and all these other requirements that are prerequisites.

As we get into different IRA tax credits and discussions that come along, we’ll be here to talk about all these potential opportunities that’ll be available and any potential questions you might have coming along the way.

Happy to be here and discuss.

00:02:51

Leanne: Thanks, Dawn. Thanks, Tony. As we said, this is the first in a series of vlogs so look out for them on your LinkedIn channels and on our Weaver blog. Any time that you have questions, please contact any of the three of us. We are here to help at all times, not just when you see us on your screens.

Thank you.