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.
For most of our lives, many of us boomers have believed that the biggest threat to the United States was our president, starting with Tricky Dick Nixon, the inventor of the “trickle-down economics,” liar Ronald Reagan, and GW (the moron) Bush.
But yes, none of us was prepared for the cold, calculating criminal who is Donald Trump.
There Were Prior Threats to the Nation Stemming from the White House
The fact that human activity is unsustainable has been revealed to us gradually over the last century. Rachel Carson’s “Silent Spring” was published 63 years ago.
That said, the ideas of climate change, ocean acidification, and loss of biodiversity have been essentially unchallenged by scientists for just the last couple of decades.
The only thing standing in the way of rapid environmental progress is greed, and in the end, that may prove to be an unbeatable foe. Decarbonizing our grid and transportation sector will eventually destroy the fossil fuel industry, a group so powerful that it has a stranglehold, both on our lawmakers and on our corporate-owned media, that works so hard to misinform our citizenry.
It’s still possible that our most senior military leaders will insert themselves in time to prevent some truly catastrophic event here in the United States/abroad.
I keep thinking I’ll read about an exchange like this:
Trump: We’re invading Greenland.
Some four-star general: The f*** we are.
This may sound like a pipe dream, but these are people of real honor and integrity who take their oaths to our constitution quite seriously.
Will the U.S. Top Military Intervene Before Trump Inflicts Irreparable Damage
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