Tag Archive for: climatebill

Community solar project developers say more generous tax credits under the new climate law will help them make a big push using tax credits.

Community solar developers see sunny opportunity in tax credits

Low-income areas and communities of color have felt left on the sidelines as homeowners reaped the benefits of rooftop solar panels and electric vehicles helped along by federal and state tax credits.

But community solar project developers say more generous tax credits under the new climate law will help them make a big push into those communities, using tax credits that can run as high as 50% for renewable energy installations.

The increased credit means developers can expand outreach and education efforts, increase hiring, and leverage other Biden administration actions—including changes to federal energy assistance known as LIHEAP—to drive down energy costs for underserved communities, including those in subsidized housing.

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Source: Bloomberg Law

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First Solar, the largest solar panel manufacturer in the U.S., said Tuesday that it will build a new panel factory in the US.

First Solar announces new US panel factory following the Inflation Reduction Act

First Solar announced Tuesday that it will build a new solar panel manufacturing facility in the U.S. on the heels of the Inflation Reduction Act, which incentivizes domestic manufacturing.

The company will invest up to $1 billion in the new factory, which it plans to build in the Southeast of the U.S. The newly announced plant will be the panel maker’s fourth fully integrated U.S. factory.

First Solar also said Tuesday that it will spend $185 million upgrading and expanding its existing facilities in Ohio.

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Source: CNBC

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Massachusetts’ Republican governor Charlie Baker has signed a significant climate bill that will bolster the growth of renewables project

Massachusetts governor signs climate bill with support for solar, clean energy mandates

Massachusetts’ Republican governor Charlie Baker has signed a significant climate bill that will bolster the growth of renewables project in the state and put limits of fossil fuel use.

Signed on Thursday, the bill was first approved by the state legislature on 31 July before being signed by the governor. It comes just before the US House of Representatives is expected to pass the US’ landmark climate package – the Inflation Reduction Act – with major implications for the energy industry in the US.

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Source: PV Tech

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President Joe Biden on Tuesday signed into law a $430 billion bill that is seen as the biggest climate package in US history

Biden signs inflation act, hands pen to Manchin

President Joe Biden on Tuesday signed into law a $430 billion bill that is seen as the biggest climate package in U.S. history, designed to cut domestic greenhouse gas emissions as well as lower prescription drug prices and high inflation.

At a White House event, Biden was joined by Democratic leaders including Senator Joe Manchin of West Virginia, whose support was crucial to passage of the Inflation Reduction Act along party lines, after he blockaded much larger measures pushed by the White House.

“Joe, we never had a doubt,” Biden said of Manchin. Biden later handed Manchin the pen he used to sign the legislation.

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Source: Reuters

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The climate bill contains numerous provisions that could aid the efforts of ordinary Californians to reduce emissions.

There’s a lot for Californians in the federal climate bill. Here are the details

The sprawling climate bill that the U.S. Congress could pass in the coming days contains numerous provisions that could aid the efforts of ordinary Californians to reduce emissions.

The bill, called the Inflation Reduction Act because it includes deficit reduction as well as climate and health provisions, “contains the strongest climate action we’ve ever taken in American history,” said Sheryl Carter, an expert on electric power with the Natural Resources Defense Council.

Passage is going down to the wire, with Congress’ August recess imminent. Democrats appear to have just succeeded in getting the endorsements of Sen. Joe Manchin, D-W.Va., and Sen. Kyrsten Sinema, D-Ariz. — key votes given the essentially even partisan split in the Senate.

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Source: San Francisco Chronicle

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The Senate approved a sweeping package to combat climate change, lower health-care costs, raise some taxes and reduce the federal deficit

Senate approves Inflation Reduction Act, providing boon to solar industry

The Senate on Sunday approved a sweeping package to combat climate change, lower health-care costs, raise taxes on some billion-dollar corporations and reduce the federal deficit, as Democrats overcame months of political infighting to deliver the centerpiece to President Biden’s long-stalled economic agenda.

The party-line vote was a milestone in a tumultuous journey that began last year when Democrats took control of Congress and the White House with a promise to bring financial relief to ordinary Americans. With a tiebreaking vote from Vice President Harris, the 50-50 Senate sent the bill to the House, which aims to approve it and send it to the White House for Biden’s signature later this week.

Dubbed the Inflation Reduction Act of 2022, the package would authorize the biggest burst of spending in U.S. history to tackle global warming — about $370 billion to reduce greenhouse gas emissions to 40 percent below their 2005 levels by the end of this decade. The proposal also would make good on Democrats’ years-old pledge to reduce prescription drug costs for the elderly.

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Source: The Washington Post

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The historic climate bill would deliver billions of dollars in tax and other incentives to US solar manufacturers.

How Joe Manchin’s change of heart could revive the US solar industry

The gamble by a company here churning out large volumes of solar panels was starting to look risky.

Its plan to be a launchpad for a solar manufacturing resurgence was already audacious in an industry so dominated by China, whose cheap products drove the closure of many American solar plants. Government investment championed by the White House was supposed to position domestic firms to compete, but a paralyzed Congress was refusing to write the check.

But the wager in Dalton by Qcells North America may have paid off with an ambitious climate package now on a path to President Biden’s desk. The bill, negotiated in part by Sen. Joe Manchin III (D-W.Va.), would deliver billions of dollars in tax and other incentives to U.S. solar manufacturers, equipping them with government support on a scale of those China used to corner the market.

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Source: Washington Post

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The Inflation Reduction Act would avoid 24 tons of climate emissions for every new ton it creates.

How the Senate’s big climate bill eliminates 4 billion tons of emissions

A week after US Senate Majority Leader Chuck Schumer and Senator Joe Manchin stunned the world by announcing they’d finally struck a deal on a climate, energy and health package, the implications for greenhouse gas emissions are starting to come into view.

The Democratic senators initially said the Inflation Reduction Act of 2022 would cut US emissions about 40% below 2005 levels by 2030, and expert climate policy modelers said reaching that target was plausible. Now three preliminary climate models of the IRA — by researchers at Princeton University, the think tank Energy Innovation, and the research firm Rhodium Group — offer more details on how exactly the US could get there: through changes in the electric power sector, the use of carbon-capture technologies and more.

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Source: Bloomberg

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