Solar Generation as Public Utility Property

The Internal Revenue Service (IRS) has issued several private letter rulings (PLR) in recent months clarifying the relationship between solar power generation equipment and public utility companies. The main focus is defining whether or not generation equipment with energy pricing based on monthly fees can be treated as public utility property. The designation of generation equipment as public utility property has several important implications, all of which impact how utilities treat the property for tax purposes.

Utilities are Transforming with Cloud Solutions

Cloud computing has applications in a wide array of industries, but utilities in particular are well-suited to reap the massive benefits of the cloud. The unique IT requirements of large, regulated organizations managing critical infrastructure are incredibly complex and notoriously difficult to manage. Only through leveraging the cloud can forward-thinking utilities stay on the cutting edge of technological advancement.

Cloud Computing is Revolutionizing Business Processes

Many industries are leveraging the power of cloud computing to revolutionize their processes, and the COVID-19 pandemic has further accelerated the need for software solutions that can be accessed remotely. Businesses are transitioning to more comprehensive digital processes with cloud solutions at their core.

Corporate Tax Rate Change Implications for Utilities

The 117th United States Congress is now set following two runoff elections in Georgia which have given the Democratic party control over 50 seats in the Senate and the tie-breaking vote through Vice President-elect Kamala Harris. With control of both chambers of Congress and the Presidency, Democrats are now poised to pursue more ambitious policy changes, including a proposed increase to the corporate tax rate.

Lucasys Sponsors EEI 2019 Financial Review

Lucasys is proud to partner with the Edison Electric Institute in sponsorship of the 2019 Financial Review, the organization’s annual report of the U.S. investor-owned electric utility industry.