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.