Treasury Department, IRS Release Initial Guidance on Technology-Neutral Tax Credits
WASHINGTON, D.C. – The U.S. Department of the Treasury and the Internal Revenue Service (IRS) released initial guidance today on the technology-neutral tax credits (Sections 45Y and 48E). Following is a statement from Ray Long, President and CEO of the American Council on Renewable Energy (ACORE), on the guidance:
“Today’s announcement is another ‘win’ for American consumers seeking affordable, reliable, and clean electricity.
“The technology-neutral tax credit simplifies the tax code and is expected to lower the average annual electric bill by $29-74 per household in the next six years and $42-95 by 2035. This amounts to tens of billions of dollars in electricity cost savings for U.S. families.
“The tax credit increases American energy security and reliability by deploying new clean electric generation from wind, solar, battery storage, and other zero-carbon technologies. Analysis has shown that by 2035, clean energy capacity will increase by up to 50%.
“From this clean energy deployment, our environment will be substantially cleaner. By 2035, carbon emissions are expected to drop 43-73% below 2022 levels.
“This is truly a game-changing policy for all Americans. ACORE applauds the Treasury Department for releasing this guidance, and we look forward to the significant economic growth, job creation, and other benefits that will follow.”
##
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
Manager, Communications
American Council on Renewable Energy
helms@acore.org | 202.935.6491 (o) | 727.290.8804 (c)
The post Treasury Department, IRS Release Initial Guidance on Technology-Neutral Tax Credits appeared first on ACORE.
https://acore.org/news/treasury-department-irs-release-initial-guidance-on-technology-neutral-tax-credits/
Here’s an idea:
Give all descendants of slaves free college, with stipends, like they do in northern Europe.
Within a generation, we’ll have millions of young, highly educated black people, contributing to the work force at much higher levels than they are today.
We all admit that the MAGA base is composed of the most ignorant of Americans, but one has to think that even these people are losing their patience with Trump and the onslaught of catastrophes he’s bringing to the United States.
It’s hard to think of a bad trait that Trump doesn’t manifest.
He certainly has pettiness and vindictiveness nailed.
-
Greenhouse Gases12 months ago
Guest post: Why China is still building new coal – and when it might stop
-
Climate Change12 months ago
Guest post: Why China is still building new coal – and when it might stop
-
Greenhouse Gases2 years ago嘉宾来稿：满足中国增长的用电需求 光伏加储能“比新建煤电更实惠”
-
Climate Change2 years ago嘉宾来稿：满足中国增长的用电需求 光伏加储能“比新建煤电更实惠”
-
Climate Change2 years ago
Bill Discounting Climate Change in Florida’s Energy Policy Awaits DeSantis’ Approval
-
Renewable Energy9 months agoSending Progressive Philanthropist George Soros to Prison?
-
Carbon Footprint2 years agoUS SEC’s Climate Disclosure Rules Spur Renewed Interest in Carbon Credits
-
Greenhouse Gases1 year ago
嘉宾来稿：探究火山喷发如何影响气候预测