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Coal Communities

All articles tagged with #coal communities

energy2 years ago

Revitalizing Former Coal Towns with Clean-Energy Factories

The U.S. Energy Department is funding projects in former coal towns, including West Virginia, Colorado, and Texas, to support the transition to clean energy. The projects aim to create jobs and manufacturing opportunities in communities heavily reliant on fossil fuels. The funding is part of a $1 trillion infrastructure package signed by President Biden in 2021. The program recognizes the need to address the potential job losses and economic challenges faced by workers in the fossil fuel industry as the world shifts towards cleaner energy sources. The projects will focus on manufacturing critical materials for clean energy, such as metals for fuel cells and cleaner steel, as well as wind turbines and energy-efficient windows. The initiative aims to revitalize these communities and ensure their role in strengthening America's national and energy security.

via The New York Times|
#clean-energy#coal-communities#energy
energy2 years ago

Biden administration invests in clean energy to revitalize coal communities.

The White House plans to provide tax incentives for clean energy developers and facilities to build projects in communities that have struggled to rebound from coal plant and other fossil fuel shutdowns. The Treasury Department and IRS released guidance outlining tax incentives to incentivize more clean energy investment in energy communities, particularly coal communities. The DOE will make $450 million from the 2021 infrastructure law available for clean energy demonstration projects on mine lands and $16 million available to the University of North Dakota and West Virginia University for critical mineral refinery projects.

via Fox News|
#clean-energy#coal-communities#energy
energy2 years ago

Biden administration invests in clean energy for coal communities.

The Biden administration has released final guidance on how clean energy companies can secure additional tax credits when investing in US communities economically tied to fossil fuels like oil and coal. The boosted tax credit is central to the administration’s goal of ensuring areas long dependent on fossil fuels benefit from clean energy. The extra credit will likely cover projects in places like coal-heavy Appalachia decimated by mine and plant closures. The Treasury said it will open project applications for the first round of coal and energy communities tax credits on May 31.

via Reuters|
#biden-administration#clean-energy#coal-communities
energy2 years ago

Biden administration promotes clean energy investment in coal communities.

The US Treasury Department and IRS have released guidance on the Inflation Reduction Act, which provides a bonus of up to 10 percentage points on top of the Investment Tax Credit (ITC) and an increase of 10 percent for the Production Tax Credit (PTC) for clean energy projects and facilities located in communities that have driven and historically been at the forefront of energy production, including areas with closed coal mines or coal-fired power plants. The bonus is also available to areas that have significant employment or local tax revenues from fossil fuels and higher than average unemployment. The Treasury has partnered with the Interagency Working Group on Energy Communities to provide a searchable mapping tool that helps identify areas that may be eligible for the energy communities bonus.

via Treasury|
#clean-energy#coal-communities#energy
energy2 years ago

Biden administration invests in clean energy for coal communities.

The Biden administration is allocating $450 million from the Bipartisan Infrastructure Law to fund clean energy demonstration projects on former mine lands, as part of its efforts to revitalize coal communities. The projects could include microgrids, advanced nuclear, and power plants with carbon capture. The administration is also providing $16 million to the University of North Dakota and West Virginia University to create design studies for the first-ever full-scale refinery facility in the U.S. that could extract and separate rare earth elements and minerals from coal mine waste streams. The initiative is part of a broader push to fight climate change and support communities that have lost economic activity during a transition away from fossil fuels.

via CNBC|
#biden-administration#clean-energy#coal-communities