Energy/Alternative Energy


With changing marketing conditions and challenging regulatory requirements, financial reporting in the oil and gas industries require especially complex accounting techniques. WithumSmith+Brown (Withum) offers individualized accounting services to address the industry specific challenges, compliance needs and industry standard tax practices of the oil and gas industry.

Alternative Energy

New Jersey is proud to be on the leading edge of the technological advancement of alternative energy. Withum provides accounting, tax and consulting services to many regional companies who offer solutions for alternative energy generation, and who also manufacture and distribute clean energy components and services. Our clean energy clients concentrate in the following disciplines:

  • Solar, PV Solar
  • Wind
  • Bio Fuels
  • Nuclear
  • Smart Grid
  • Water Power

The American Recovery and Reinvestment Act of 2009 (ARRA) has created many new financial incentives for the renewable energy industry. Programs like Section 1603 grants – cash grants payable in lieu of tax credits – are moving the energy industry forward, bringing exciting business opportunities to the forefront.

New Jersey has made a significant long-term commitment to solar energy, and the Solar Renewable Energy Certificate (SREC) Program is an innovative way to help the state meet that commitment. New Jersey has the most robust SREC market in the nation. In 2009 the state eclipsed the 100 MW mark for solar capacity installed. In the 2010 energy year, the state will likely need over 200 MW of installed capacity to meet the state requirement. Furthermore, New Jersey’s renewable portfolio standard is one of the most aggressive in the United States, requiring each supplier/provider serving retail customers in the state to procure 22.5% of the electricity it sells in New Jersey from qualifying renewable by 2021.

As accounting, tax and business advisors serving the renewable energy industry, WithumSmith+Brown can help you leverage these and other incentives while helping guide you through the renewable energy regulations that are in place. We can provide you with the industry insights and financial advice needed to move your ideas, and your business, ahead.

Services We Provide To Clients In The Energy And Alternative Energy Sectors:

  • Tax planning and compliance
  • Audit
  • Assistance with financial projections with modeling of tax credits
  • Assistance with government contracting and reporting
  • Due diligence
  • Employee benefit plan audits
  • Internal audit outsourcing
  • Management consulting and business advisory
  • Outsourced accounting services

Services We Provide Specifically To Alternative Energy Clients:

  • Assistance with 1603 grant applications and related reporting, researching allowable costs for unique situations.
  • Identify available federal, state and local energy tax credit incentives, including R&D and Production tax credits.
  • Advise on multi-state expansion, structure, and nexus issues
  • Advise on and forecast activities
  • Analyze and advise on PPA structure
  • Utilize resources for bank financing and lines of credit.
  • Assess and propose actions related to internal processes and procedures, to ensure timely and accurate financial reporting.

Allow Withum’s specialists help put your company in a position of strength.

Our Team

James F. Weeks
James F. Weeks
The information contained herein is not necessarily all inclusive, does not constitute legal or any other advice, and should not be relied upon without first consulting with appropriate qualified professionals.