Repurposing Real Estate for Renewable Energy: Understanding the Legal Framework, Deal Structures, Incentives

Description

As the demand for renewable energy increases, available greenfield land for renewable energy projects is becoming more scarce. As a result, many developers are getting creative with reusing and repurposing various types of real property including agricultural land, brownfields, superfund sites, urban industrial areas and rooftop or canopy spaces for these projects.

The availability of federal investments, tax credits, and policies aimed at promoting clean energy, coupled with an increase demand for electricity driven by the growth of AI and the electric car industry has led to an explosion of interest in the purchase, sale, and development of renewable energy projects in the U.S. While sunshine and wind are widely available, prime land in which to build large scale renewable projects is becoming harder and harder to find. As a result, developers are increasingly seeking to reuse and repurpose land for renewable projects. This comes with many benefits and available incentives as well as legal and regulatory challenges.

Repurposing real estate for renewable energy projects involves a critical analysis of various federal and state regulations, potential liability, and a complete understanding of structuring deals to repurpose and adapt these assets, all in a rapidly evolving environment.

Listen as our panel (a) provides an overview of existing policy and financial incentives for developing renewable energy projects on various types of property, (b) discusses the regulatory framework and legal requirements for renewable energy development and (c) provides real world examples of projects that have successfully repurposed land for renewable energy generation and storage and discusses the challenges that arose and how those challenges were successfully navigated.