Treasury Department, IRS Release Initial Guidance on Technology-Neutral Tax Credits

May 29, 2024

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/

Renewable Energy

Myth Busting in Renewable Energy

Published

11 hours ago

April 18, 2026

Alice Rush

I met a guy earlier today who told me that wind and solar are controversial, and that some people say that the mining and manufacturing of wind turbines requires more fossil fuels that the turbines themselves produce.

I told him that I’m aware of such people; they’re called “professional liars.”

I explained the concept of EROI, energy return on investment, and surprised him by saying that the EROI of wind is somewhere between 18 and 30, meaning that each wind turbine you see as you drive along the freeway will generate at least 18 times as much energy as was required in its mining, fabrication, installation, maintenance, and decommissioning–all the way up to 30 times that amount.

The generation of disinformation of renewables has become a cottage industry. People are paid to make up and publish complete bullshit, so as to discredit the burgeoning clean energy industry, and keep Big Oil in place.

Myth Busting in Renewable Energy

Renewable Energy

Thanking God for Trump

Published

11 hours ago

April 18, 2026

Alice Rush

As bad as things are in the United States, they could always get worse.

Trump could succeed in his quest to be a dictator, Christianity could be taught in schools, and unvaccinated adults and their kids could trigger another epidemic.

In terms of our reputation on the world stage, however, things really can’t get must worse; the countries around the globe already regard us with a mixture of hate and derision.

Yet regardless of what the future holds, there will always be idiots who that believe that Trump is our savior, like the author of the meme above.