Joel Cohn, CPA (he/him)

Read our deep dive into the recent PJM Capacity Auction delay, analyzing the record-high pricing and ongoing delays impacting stakeholders across the grid. This blog by Arianna Goldstein and Cameron Odegaard offers crucial insights for anyone navigating the evolving energy landscape, from utility operators to grid planners and energy investors.💡 https://hubs.li/Q02Wc-Cc0

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Across the United States, public utility commissions are taking bold steps to ensure utilities leverage the resources of the Inflation Reduction Act for the benefit of their customers. RMI has documented four case studies showcasing how forward-thinking regulators are innovating within various regulatory frameworks to direct utilities in harnessing IRA benefits. These efforts pave the way for tangible savings and better service delivery. 👏 Dive into the case studies to learn more about how these regulatory leaders are driving positive change: https://bit.ly/4769roQ

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PJM reviewed three separate proposals it plans to file with FERC by the end of the year to address the urgent need for new generation while refining market rules to address specific stakeholder concerns before the next capacity auction. The proposals will be the subject of Section 205 filings that PJM intends to make with the Federal Energy Regulatory Commission next month, and the session was the first of two being held to consult the stakeholder community. Stakeholders are invited to apply by Nov. 12 to present their views on the issues at the Nov. 21 meeting of the Members Committee. In his opening comments, Stu Bresler, Executive Vice President, Market Services and Strategy, said that the confluence of trends giving rise to the larger issue of resource adequacy are well known: unprecedented load growth, deactivation of generators whose contribution to reliability requires multiple megawatts of renewable generation to replace, and the inadequate pace of new resources connecting to the system. Read more at PJM Inside Lines. https://lnkd.in/ehygavtz

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PJM is looking to make updates to the capacity auction rules before the now delayed 2026/27 BRA. They are also looking to allow resources into Transition Cycle 2. Reach out now to learn more about this proposed changes and how they may impact you. https://lnkd.in/egyQjmYm

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The National Association of Regulatory Utility Commissioners (NARUC) released their new report, Collaborative Enhancements to Unlock Interregional Transmission, providing an assessment and solutions to challenges faced by regulators and other energy stakeholders. Read more here: https://lnkd.in/eyV-8Q72 #interregionaltransmision #transmissionreform

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🚨 Check out our latest blog post on the PJM Capacity Auction Results for June 2025 - May 2026. The recent PJM capacity auction results could lead to significant price increases for future energy contracts, so some suppliers are opting for temporary measures like ‘Capacity Pass-Through’ or ‘Bilateral Capacity True-Ups.’ This surge will affect future utility rates and adds complexity for businesses on fixed contracts. Read more about the implications and what to expect next: https://hubs.ly/Q02KhCjx0 #PJM #CapacityAuction #EnergyMarket #UtilityRates #EnergyContracts

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📣Exciting Update to the Green Energy Program: There is now no limit to the number of Energy Public Policy Projects or the aggregate dollar amount outstanding.   The SBA 504 Green Energy Program allows businesses to "Go Green" to benefit the environment. 🌎 Benefits of SBA 504 Green Energy Financing: • A borrower can still qualify for an additional $5.5M SBA 504 Loan if they have used their $5M allocation in SBA 7a or 504 loans. • There is now no limit to the number of additional $5.5M debentures a borrower can have if the 504 Green Energy Program is used. • There is no limit to the total project cost • 90% financing for building or land acquisition, renovations, and ground-up construction. • Lower business's energy and operating costs. • Roll renewable equipment costs into the loan. How to Go Green: ✅ Reduce energy consumption by 10% or more. ✅ Produce on-site renewable energy that represents 15% of your energy use. What Improvements Qualify? ✔ Energy-efficient building improvements such as: improved roofing, energy-efficient windows, doors, and building insulation. ✔ Installation of solar panels, solar thermal heating, or cogeneration systems. ✔ Installation of high-efficiency HVAC units or improvement of HVAC system with timers or sensors. ✔ Replacement of lighting with high-efficiency fixtures. Reach out to one of our loan officers today to learn more about SBA Green Energy Projects: https://mwsbf.com/staff/ #sbaupdates #sba504 #sba504greenloanprogram #gogreen

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Great insights by a CEO to explain what happened with the PJM capacity auction. Utilities that are short on generation are the ones affected by the outcome of higher prices. Goes to show utilities that plan ahead and invest in generation are the least affected by a volatile market. https://lnkd.in/gRYi2Fua

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File under: energy regulatory observations, #RTO #complaints / #waivers when there are #tariff issues that don't make sense. I read a fair number of daily orders from / filings with the Federal Energy Regulatory Commission and this granting of a complaint against PJM stood out as a quick one to highlight for a few reasons. First, the level of tax-codification (like Shakespeare, I'll invent the words I need) that RTO tariffs have undergone. Read the intro paragraph of the order capturing the crux of the issue. My goodness. I cover issues across ISOs/RTOs from PJM, to NYISO, CAISO, and of course ISO-NE as well non-888/2000 regions like BPA and public utility districts and everyone has their own rules. For companies doing business in the US (which, for example, is common with generation, transmission developers, and large loads), it's like needing to be fluent in several languages. Observation: no wonder #FERC has some aspirations to more standardized language to at least create a bit of standardization in the tariff tower of Babel. Second, the complaint as a consensus tool. It's human nature to want to be right. Evolutionary, it's a mark of power. And power means safety. Humans are wired that way for survival, and it takes some self-awareness and reflection to engage the rational cortex over the non-verbal and much older limbic system and to hit the pause button to a challenge. The term "complaint" doesn't always help and neither does the "party v. party" case caption. The whole structure connotes conflict. Here, Dominion filed a waiver with a complaint in the alternative because PJM interpreted its tariff to not allow for a resource submission given a change in entity type. But instead of simply defending the tariff, PJM acknowledged the issue and supported a fix if the also supported waiver wasn't granted. FERC granted the complaint to fix the issue generally rather than a one off. While the stakeholder process - and all the interests that are encompassed therein - can make agreement to a change like this more difficult, the complaint and waiver processes are paths that can and should be used especially where time matters. One of the most critical things for those administering the rules to understand is: a delay is not harmless, a "comeback next time" is not without victims. Many projects have to have all elements align to move forward. Other issues may be more durable but can add needless costs to consumers, and those add up. This "how can we work with parties" approach is great to see and hopefully we'll see more of it. From capacity markets to interconnections, there is a lot of room for win-wins. Also, great to see Commissioner Rosner's name on these. #energy

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📰Big News for Tax-Exempt Entities! 📰 The Treasury and IRS have finalized rules under the Inflation Reduction Act, allowing co-owned clean energy projects to access tax credits through direct pay. This new guidance enables municipalities, schools, nonprofits, and other tax-exempt entities to reduce costs and accelerate clean energy project implementation. 📖Learn more: Final IRA Direct Pay Rules Allow Co-Owned Solar Projects to Collect Benefits #CleanEnergy #SolarProjects #InflationReductionAct #Renewables https://loom.ly/Y5pYxH4

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In our latest PJM Interconnection we discuss the potential impacts of developers recently withdrawing several thousand MW of projects from the PJM queue’s Transition Cycle #1 (TC1 study group), and highlight the continued project development challenges faced by developers with regards to site control, permitting, financing, and supply chain issues. https://buff.ly/3Xd8Qgk #powermarkets #energy #projectfinance

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In our latest #blog, Joshua Morgan discussed why #grid #connection #due #diligence is such an important process.... In the past two years, we have seen demand more than triple for this service. This trend is reflective of the value in an independent assessment of the connection offer issued. While the focus of such due diligence is ultimately in identifying specific concerns with the connection offer it can also unearth concerns in areas such as planning or procurement that may warrant its own assessment. Read more here 👇 and #getintouch at [email protected] for further information 🙂 https://lnkd.in/ewFJitjZ

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TUNE IN: Thursday at 9 AM CT for CEA President David Holt's interview with David Blackmon on 'The Energy Question' podcast! David will discuss the impact of recent legislation on consumers and how we can ensure affordable, reliable, and environmentally responsible energy leading into the election. Tune into the livestream by saving the link below! #EnergyPolicy #AffordableEnergy #ReliableEnergy

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PJM FERC Order 1920: What is Next? PJM Interconnection’s compliance plan will involve several stakeholder meetings, including outreach to states. For example, PJM will hold a series of special Transmission Expansion Advisory Committee (TEAC) meetings to discuss the compliance filing with members. PJM has also indicated its intent to begin scenario development for the first Long-term Regional Transmission Planning (LTRTP) cycle. MAREC Action participated in the September 6th TEAC meeting and focused on least-regrets planning; state policy considerations; and coordination of planning and generator interconnection studies. This article outlines comments in each of these three areas. Check it out in the link below - https://lnkd.in/eA-p2eyH

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Since the enactment of The Inflation Reduction Act (IRA) in 2022, we’ve awaited final details on the law’s clean energy tax incentives, which are a fantastic opportunity to offset the costs of the green energy initiatives your organization may already be undertaking. We recommend that entities looking to secure IRA tax credits, engage in an IRA credit transfer, or utilize the nonprofit elective pay program have a thorough understanding of this expansive guidance. To learn more about the law, check out this article by our own Jess LeDonne: https://ow.ly/jytr50S1YWF #InflationReductionAct #IRA #cleanenergy #greenenergy #taxcredits #tax #advisory #consulting

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“The amount of generation retirements appears to be more certain than the timely arrival of replacement generation resources and demand response..." What an amazing line from POWER magazine's Sonal Patel. The article is very technical, but it points out excellent facts about how the retirement of generation is greater than future proposed generation... while the demand is increasing. Read the full version here: https://lnkd.in/e6dUVhB8 #energytransition #gridtransition #grid

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