November 17, 2023
ACORE Statement on the Treasury Department’s Section 48 ITC Guidance
WASHINGTON, D.C. – The U.S. Treasury Department has released preliminary guidance on the Section 48 Investment Tax Credit, which was expanded under the Inflation Reduction Act (IRA) to include new credits for fast-growing technologies such as offshore wind, battery storage, and microgrid controllers. Following is a statement from Gregory Wetstone, President and CEO of the American Council on Renewable Energy (ACORE), on the notice of proposed rulemaking released this morning:
“Thanks to the IRA, clean energy businesses now have access to a stable tax platform like the one enjoyed by the fossil fuel sector for more than a century, but to fully take advantage of these benefits, they need to understand how the provisions work. The tax guidance released today provides important clarity to developers and investors looking to further America’s energy transition. We remain impressed by the Administration’s commitment to fully maximizing the economic and environmental benefits of this transformative legislation, and plan to continue working closely with Treasury in support of fair, timely, and practicable final rules across all facets of the clean energy tax package.”
Background:
ACORE submitted both individual and joint comments to the U.S. Treasury Department seeking clear IRA guidance. ACORE staff has also participated in stakeholder roundtables with the Biden administration on the implementation of the IRA.
##
About ACORE:
For more than 20 years, the American Council on Renewable Energy (ACORE) has been the nation’s premier pan-renewable nonprofit organization. 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 ACORE Statement on the Treasury Department’s Section 48 ITC Guidance appeared first on ACORE.
ACORE Statement on the Treasury Department’s Section 48 ITC Guidance
Here’s a story:
He had 3 days left until graduation.
Kendrick Castillo was 18. A robotics student. College bound. Accepted into an engineering program. The final week of school felt like countdown, not crisis.
Then a weapon appeared inside a classroom.
Students froze.
Kendrick did not.
Witnesses say he moved instantly. He lunged toward the attacker. No hesitation. No calculation.
Two other students followed his lead.
Gunfire erupted.
Kendrick was fatally sh*t.
But his movement changed the room.
Classmates were able to tackle and restrain the attacker until authorities arrived. Investigators later stated that the confrontation disrupted the attack and likely prevented additional casualties.
In seconds, an 18-year-old made a decision most adults pray they never face.
Afterward, the silence was heavier than the noise.
At graduation, his name was called.
His diploma was awarded posthumously. The arena stood in collective applause. An empty seat. A cap and gown without the student inside it.
His robotics teammates remembered him as curious. Competitive. Kind. Someone who solved problems instead of avoiding them.
He had planned to build machines.
Instead, he built a moment.
A moment that classmates say gave them time.
Time to escape.
Two points:
If you can read this without tears welling up in your eyes, you’re a far more stoic person than I.
Since Big Money has made it impossible for the United States to implement the same common-sense gun laws that exist in the rest of the planet, this story will reduplicate itself into perpetuity.
How often does this happen? How about never?
Trump loves to say that little boys go to school and come back home little girls.
He’s the most powerful person in the world for exactly one reason: We’re a nation of morons.
Two comments:
That the United States has homeless veterans is a national (and international) disgrace.
By definition, no one has the legal right to enter the U.S. illegally, but according to our constitution, everyone in America is entitled to due process.
Bravery Meets Tragedy: An Unending Story
Equity, Benefit-Sharing and Financial Architecture in the International Seabed Area
Pacific nations would be paid only thousands for deep sea mining, while mining companies set to make billions, new research reveals
-
Greenhouse Gases7 months ago
Guest post: Why China is still building new coal – and when it might stop
-
Climate Change7 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
Bill Discounting Climate Change in Florida’s Energy Policy Awaits DeSantis’ Approval
-
Climate Change2 years ago
Spanish-language misinformation on renewable energy spreads online, report shows
-
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 Change Videos2 years ago
The toxic gas flares fuelling Nigeria’s climate change – BBC News
-
Carbon Footprint2 years agoUS SEC’s Climate Disclosure Rules Spur Renewed Interest in Carbon Credits