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Tax Incentives & Appropriations -
Press Releases
Treasury, IRS Release Final Regulations for the Advanced Manufacturing Tax Credit
WASHINGTON, D.C. – The U.S. Department of the Treasury and the Internal Revenue Service (IRS) released final regulations today on the Section 45X Advanced Manufacturing Production Tax Credit for solar, wind, and qualifying battery components, inverters, and applicable critical minerals. Following is a statement from Ray Long, President and CEO of the American Council on Renewable Energy (ACORE), on the final rule:
“Thanks to smart industrial policies, like the Advanced Manufacturing Tax Credit, America is in the middle of a true clean energy manufacturing renaissance. Over $75 billion has been invested in clean energy manufacturing in the last two years in projects that are now fully operational, including 42 American factories that employ 20,000 U.S. workers. This clean energy manufacturing renaissance will ultimately support more than 100,000 new manufacturing jobs nationwide.
“ACORE deeply appreciates the work the Treasury Department and the IRS did to finalize the Section 45X credit. The final rule issued today retains the applicability of direct pay and transferability, and provides needed flexibility for a broad range of U.S. businesses to fully leverage the benefits and create American jobs.
“While we continue to analyze the market impacts of the final rule, we look forward to our continued partnership with the agencies on regulations that further accelerate America’s clean energy transition. With constructive regulations and balanced trade policies, the U.S. can rise to a place of global leadership in clean energy manufacturing that will create more good-paying jobs, lower costs for businesses, secure our grid, and maximize American competitiveness.”
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About ACORE:
For over 20 years, the American Council on Renewable Energy (ACORE) has been the nation’s leading voice on the issues most essential to renewable energy expansion. ACORE unites finance, policy, and technology to accelerate the transition to a renewable energy economy. For more information, please visit www.acore.org.
Media Contacts:
Alex Hobson
Sr. Vice President, Communications
American Council on Renewable Energy
hobson@acore.org | 202.830.3592 (o) | 202.594.0706 (c)
Dylan Helms
Associate, Communications
American Council on Renewable Energy
helms@acore.org | 202.935.6491 (o) | 727.290.8804 (c)
The post Treasury, IRS Release Final Regulations for the Advanced Manufacturing Tax Credit appeared first on ACORE.
https://acore.org/news/treasury-irs-release-final-regulations-for-the-advanced-manufacturing-tax-credit/
Renewable Energy
Threats to America’s Health and Safety
Those who are involved in science are concerned that American society is threated by misinformation.
Of course, MAGA crowd, the antivaxxers, the climate deniers, etc. believe the opposite, i.e., the people like Anthony Fauci, who have dedicated their entire adult lives to human health, have suddenly become corrupt, and are profiting from fake science while destroying the U.S. economy.
Renewable Energy
ACORE Statement on the Department of Interior’s Action to Halt Fully Permitted Offshore Wind Construction Projects
ACORE Statement on the Department of Interior’s Action to Halt Fully Permitted Offshore Wind Construction Projects
WASHINGTON, D.C. — The American Council on Renewable Energy (ACORE) issued the following statement from ACORE President and CEO Ray Long in response to the Department of the Interior’s action to halt fully permitted offshore wind construction projects:
“Americans expect their government and private sector to work together to ensure that the lights stay on and their electric bills are affordable. The five East Coast offshore wind projects that have been paused should be a total success story: $28 billion in committed private sector capital, expanded port infrastructure, support for domestic shipbuilding, and 10,000 good-paying local jobs—all to support a more robust, affordable, reliable, and secure electricity resource base for decades to come. Given skyrocketing electricity demand forecasts and consumers’ clear concerns about affordability, projects like these need to get over the finish line to give people confidence that government and the private sector can still deliver on big things. Unfortunately, actions like this send the opposite message at exactly the wrong time.”
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ABOUT ACORE
For over 20 years, the American Council on Renewable Energy (ACORE) has been the nation’s leading voice on the issues most essential to clean energy expansion. ACORE unites finance, policy, and technology to accelerate the transition to a clean energy economy.
For more information, please visit http://www.acore.org.
Media Contacts:
Stephanie Genco
Senior Vice President, Communications
American Council on Renewable Energy
communications@acore.org
The post ACORE Statement on the Department of Interior’s Action to Halt Fully Permitted Offshore Wind Construction Projects appeared first on ACORE.
https://acore.org/news/acore-statement-on-the-department-of-interiors-action-to-halt-fully-permitted-offshore-wind-construction-projects/
Renewable Energy
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