Renewable Energy: Technologies, Compliance, Incentives And Subsidies
Emerging technology in the renewable energy industry is exploding. State and federal environmental legislation has created government subsidies, incentives and energy goals that will require widescale compliance nationwide. At McCarn, Weir, & Sherwood Attorneys at Law, in Amarillo, our renewable energy lawyers provide legal guidance and assistance for regulatory compliance and cost-efficient strategies for maximizing government subsidies to clients in Texas and nationwide.
Renewable Energy State And Federal Legislation
The American Renewable Energy and Efficiency Act created incentives and benefits for consumers and the environment by requiring electric utility companies to secure 25% of their electricity by harnessing renewable energy sources by 2025. Renewable energy sources include:
Federal goals for 2030 include targets of 80% renewable energy with 100% of carbon-free electricity proposed by 2035, although critics suggest that the ability to achieve these targets seems to be slipping away. In any event, renewable energy technology is a viable.
In the state of Texas, renewable energy mandates have directed a long-range goal for the state to source 10% of its energy needs from renewable energy sources by 2025. In addition, legislation increased the ability of the Public Utility Commission to streamline construction and transmission lines to ensure the state can reach its renewable energy goals.
How Renewables Lawyers Can Help
Our lawyers at McCarn, Weir, & Sherwood Attorneys at Law have 120 years of combined experience between them. Our legal team includes multiple board-certified lawyers in oil gas and mineral law. They also have extensive experience in renewable energy laws and regulations in Texas and throughout the country.
Our experienced legal team provides legal guidance to companies who are seeking to maximize government subsidies and comply with environmental laws and renewable energy incentives. They also counsel and advise businesses and corporations that are developing renewable energy technologies with their business financing and transactional needs. We also help companies negotiate and navigate complex litigation conflicts.
How can I start a renewable energy business?
Renewable energy is increasingly important for the future, so there is plenty of room for new companies to break into the market and establish their niche. Starting a renewable energy business can be rewarding both financially and environmentally. To get started:
- Self-educate: Learn about different types of renewable energy sources, technologies and market trends. The more you know about the industry, the better.
- Identify your niche: Are you interested in focusing on solar, wind, hydropower, geothermal or some other part of the energy sector? Focusing on a specific market can help you make more specific plans.
- Do your market research: Conduct thorough market research to understand the demand for renewable energy solutions in your target area. Identify potential competitors, pricing strategies and customer needs. Do you intend to market to residential, commercial or industrial consumers, or some mix of both?
- Develop a business plan: Develop a business plan that outlines your business goals, target market, revenue streams, marketing strategy and financial projections. A renewable energy lawyer can help you craft a detailed plan that will help with your organization and when requesting funding.
- Understand your compliance obligations: Again, it is critical to have the services of a renewable energy attorney on your side to make certain that you comply with all local, state and federal regulations related to renewable energy companies. Your renewable energy lawyer can also assist with the necessary permits and licenses.
- Explore financing options: Loans, grants and partnerships with investors can help you secure the necessary capital to get your operation in motion.
- Identify reliable suppliers: You need equipment and technology that is cost-effective, reliable and aligned with your operating goals and the latest industry standards.
Finally, you execute your business plan and launch. In many ways, starting a renewable energy business is much like starting any other kind of business – albeit one complicated by a lot of unique regulations. This is why the services of a renewable energy attorney are so essential.
Schedule A Consultation With An Attorney
No matter what your business needs and legal goals might be when it comes to renewable energy, our attorneys would welcome the opportunity to talk to you about your company. To schedule an initial consultation appointment, you can call our office at 806-223-0960 or contact us through our website.