Renewable Energy Law
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Since 2008, Pearlman & Miranda attorneys have been at the forefront of developing a renewable energy practice within, and more recently – expanding beyond, New Jersey. As listed on the Innovation page, two firsts from firm attorneys – the Morris Model, which leveraged Solar Renewable Energy Certificates (SRECs), the Federal 30% Investment Tax Credit (ITC), and the modified accelerated cost recovery system (MACRS) for government since 2010, and its subsequent adaptation utilizing 39% New Market Tax Credits (NMTCs) for non-profits since 2011 – have won awards by independent national renewable energy entities, and been frequently cited as an international case study in energy and environmental science journals.
The regional public–private partnership (P3) that the Morris Model created was effectively codified by the State in its adoption of Local Finance Board Notices 2008–2020 and 2009–2010. In 2011, Mr. Pearlman and his law clerks drafted and proposed Energy Resilience Bank legislation for the Administration. Eventually, the State leveraged Housing and Urban Development (HUD) Community Development Block Grant–Disaster Recovery (CDBG-DR) funds and Societal Benefit Charges to establish the Economic Development Authority (EDA)–Board of Public Utilities (BPU) Energy Resilience Bank (ERB).
Firm attorneys assisted with crafting the finance portion of the 2010 Offshore Wind Economic Development Act, 2010 (OWEDA), the State’s offshore wind enabling statute that looks to provide offshore wind renewable energy certificates (ORECs) that can make offshore wind bankable in this Country. In 2011 and 2012, Firm attorneys prepared and submitted the application for the first OREC order in the State.
In 2013, Mr. Pearlman prepared a white paper for the State proffering a power purchase agreement (PPA) model for hospital islanding and blackstart capability, through the development of combined heat and power (CHP) facilities through the New Jersey Health Care Facilities Financing Authority (NJHCFFA).
Firm attorneys are currently developing a Property Assessed Clean Energy (PACE) program through a county improvement authority to bring energy efficiency, having started local government energy efficiency program’s through the State’s ESIP program to private business and possibly consumers (See, e.g., Local Finance Board Notice 2009–2011).
In demand to speak nationally on these renewable energy topics, Mr. Pearlman is presently working with Mr. Peterson to develop a virtual net metering program for use in Massachusetts, one of the few states with the present vision to permit such a forward thinking program that allows solar energy to be brought to facilities that otherwise have physical limitations that would prevent the development of onsite solar. Firm attorneys are also presently working on creating a special project for a developer interested in investing in European Offshore Wind projects.