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Project Finance -
Tax Incentives & Appropriations -
Press Releases
Treasury Department, IRS Release Final Guidance on Technology-Neutral Tax Credits
WASHINGTON, D.C. – The U.S. Department of the Treasury and the Internal Revenue Service (IRS) released final guidance today on the technology-neutral tax credits, the Clean Electricity Production Credit (Section 45Y) and the Clean Electricity Investment Credit (Section 48E). Following is a statement from Ray Long, President and CEO of the American Council on Renewable Energy (ACORE), on the final rules:
“ACORE applauds the Treasury Department and the IRS for releasing a final rule that modernizes the federal tax code. At long last, we have a well-designed, technology-neutral, level playing field for energy tax policy that will lead to significant economic growth, job creation, and lower costs for American consumers.
“The technology-neutral tax credit simplifies the tax code and is expected to cut 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. Research also shows how technology-neutral tax credits will spur an additional $336 billion in investment, 237 gigawatts of clean energy deployment, and a net gain of 97,000 jobs over the next 15 years in comparison to a scenario where these tax credits are not present.
“This is truly a game-changing policy, and we’re looking forward to the affordable, reliable, clean electricity that it will help enable.”
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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 www.acore.org.
Media Contact:
Dylan Helms
Manager, Communications
communications@acore.org
The post Treasury Department, IRS Release Final Guidance on Technology-Neutral Tax Credits appeared first on ACORE.
https://acore.org/news/treasury-department-irs-release-final-guidance-on-technology-neutral-tax-credits/
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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