Tag

Energy Communities

All articles tagged with #energy communities

energy-policy1 year ago•4 min saved

"Transforming Heavy Industries: Biden-Harris Administration's $6 Billion Decarbonization Investment"

The Biden-Harris Administration has announced $4 billion in tax credits to support over 100 American-made clean energy manufacturing, critical minerals, and industrial decarbonization projects across 35 states, with a focus on bolstering domestic supply chains, lowering costs, and creating good-paying American jobs. The tax credits, funded by President Biden’s Inflation Reduction Act, aim to accelerate domestic clean energy manufacturing and reduce greenhouse gas emissions at industrial facilities, with $1.5 billion allocated for projects in historic energy communities. The program received significant interest from industry, with selected projects required to meet prevailing wage and apprenticeship requirements to receive a 30% investment tax credit.

via Energy.gov|

#biden-harris-administration #clean-energy #domestic-manufacturing

taxation1 year ago•1 min saved

"IRS Guidance Expands Tax Credits for Energy Communities and Offshore Wind Projects"

The IRS has issued Notice 2024-30, expanding rules for determining energy communities for production and investment tax credits under the Inflation Reduction Act. The notice identifies additional Metropolitan Statistical Areas and non-MSAs that meet the Fossil Fuel Employment threshold and qualify as energy communities. It also allows for increased credit amounts or rates if specific requirements are met, with three categories of energy communities outlined. The notice expands the Nameplate Capacity Attribution Rule and updates the frequently asked questions for energy communities.

via IRS|

#energy-communities #inflation-reduction-act #irs

energy2 years ago•5 min saved

Biden Administration Invests $450M in Clean Energy Projects to Revitalize Coal Communities.

The Biden-Harris Administration has announced new actions to invest in energy communities, support coal workers, and reduce reliance on competitors like China. The actions include driving new opportunities to coal communities, deploying new clean energy projects on mine lands, and bringing critical mineral supply chains to America. These investments build on the more than $14 billion from federal agencies that the Interagency Working Group on Coal and Power Plant Communities and Economic Revitalization has driven to the hardest-hit energy communities across the country.

via The White House|

#clean-energy #coal-workers #energy