The U.S. Department of Energy (DOE), the U.S. Department of Treasury and the IRS have authorized $4 billion in tax credits for 100 domestic projects aimed at accelerating renewable manufacturing at industrial facilities.
The agencies are partnering to implement the Qualifying Advanced Energy Project Tax Credit (48C) funded by the Inflation Reduction Act. At least $4 billion of the tax credit’s total $10 billion will be allocated for projects in designated §48C energy communities, with closed coal mines or coal plants.
The program received significant interest in its first round, says the agencies. Projects focused on clean energy manufacturing and recycling are set to receive $2.7 billion in tax credits. Those focused on criical materials recycling and refining are expected to receive $800 million, while projects centered around industrial decarbonization are slated for $500 million.
For selected projects to receive the tax credit, information will need to be submitted to the 48C portal within two years to certify the project. Within an additional two years following project certification, the project must be placed in service.
“From direct grants to historic tax credits, the president’s Investing in America agenda is making the nation an irresistible place to invest in clean energy manufacturing,” says U.S. Secretary of Energy Jennifer M. Granholm.
“The president’s agenda places direct emphasis on communities that have traditionally powered our nation for generations, helping ensure those communities reap the economic benefits of the clean energy transition and continue to play a leading role in building up the next wave of energy sources.”
The Treasury and IRS will issue a notice for the second round of the program in the coming months, with the concept paper submission window anticipated this summer.
The post DOE Announces Tax Credits to Accelerate Clean Energy appeared first on Solar Industry.
First of all, I believe there are far fewer of these crackpots than are commonly thought to exist. The presence of social media serves to distort this.
To answer the question, there are QAnon conspiracy theorists who simply believe that science of all types is a web of lies. The theory goes that scientists in all disciplines, health, climate, transportation, infrastructure, etc., are paid to publish papers proving ideas that profit the wealthiest and most powerful people on the planet.
If you will recall, someone has supposedly invented a carburetor that enabled cars to get 200 miles to the gallon, but it was buried by the auto industry. This whole phenomenon isn’t new.
On top of all this, we live in a time that features an appalling lack of scientific education. If you go on Facebook right this minute, you’ll run across dozens of different fraudulent claims for devices that generate electricity out of thin air, and tons of other crap that violate the laws of thermodynamics.
Renewable Energy
Is Saudi Arabia Really Planting Million of Trees in the Desert to Fight Climate Change?
When the leaders of Saudi Arabia aren’t dismembering journalists for their opposing points of view politically, they’re making trillions of dollars from selling oil. The idea that they’re at all concerned about the environment is ludicrous.
It would also be interesting to know how they plan to water these trees that they are (ostensibly) planting in the desert.
Is Saudi Arabia Really Planting Millions of Trees in the Desert to Fight Climate Change?
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Flat Earth Society
Global Scientists Anticipate Less Reliance on the United States in Future Carbon Monitoring
Virginia Regulators Approve First New Gas Plant Since Passage of Clean Economy Act
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