Tag Archive for: ira

Biden announces $7.3B for rural electrification, funding 16 cooperatives in 23 states to expand clean energy, the largest since the 1930s.

Clean energy and electrification gets $7.3 billion boost from Biden

US President Joe Biden has announced the biggest government funding move for rural electrification since the 1930s. $7.3 billion will go to 16 electric cooperatives in 23 states to build and expand clean energy, Biden said Monday.

The funds, which will come from the Inflation Reduction Act and are being awarded by the Department of Agriculture’s Empowering Rural America program, are meant to provide reliable electricity and create jobs in clean energy.

Biden introduced the investment initiative at a stop in Westby, Wisconsin, where he said about $580 million will go to the Dairyland Power Cooperative to develop solar and wind power as well as energy storage. Biden said the nonprofit co-ops were specifically targeted because, “They don’t have the same resources that private utility companies have to modernize their energy infrastructure. And for decades, they couldn’t access tax credits to make clean energy more affordable.”

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Source: CNET

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For the first time in history, solar accounts for over 50% of new electricity capacity added to the grid..

Solar installations skyrocket in 2023 in record-setting first full year of Inflation Reduction Act

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The U.S. solar industry added a record-shattering 32.4 gigawatts (GW) of new electric generating capacity in 2023, a 37% increase from the previous record set in 2021 and a 51% increase from 2022.

According to the U.S. Solar Market Insight 2023 Year in Review released today by the Solar Energy Industries Association (SEIA) and Wood Mackenzie, solar accounts for 53% of all new electric generating capacity added to the grid last year. This marks the first time in 80 years that a renewable electricity source has accounted for over 50% of annual capacity additions.

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Source: SEIA

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The IRA and its upstream incentives have led to a boom in manufacturing investments across clean energy including lithium-ion batteries and energy storage.

US-made DC containers to be cost-competitive with China in 2025 thanks to IRA, says CEA

US-made battery energy storage system (BESS) DC container solutions will become cost-competitive with those from China in 2025 thanks to incentives under the Inflation Reduction Act (IRA), Clean Energy Associates said.

The solar and storage technical advisory firm revealed the forecast in its new quarterly BESS Price Forecasting Report for Q3 2023.

A DC BESS container fully manufactured in the US sits at an average price of US$256/kWh in 2023 for a 2024/25 delivery, while one manufactured in China for US delivery in 2025 sits at US$218/kWh, Clean Energy Associates (CEA) said. The latter includes a 10.89% Section 301 tariff for select Chinese goods.

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Source: Energy Storage

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Even though utility-scale solar PV in the US added more than half of all capacity in 2022, community solar is slowly working towards accelerated growth in the coming years.

Community solar in the US set to accelerate post-IRA and new state legislations

Even though utility-scale solar PV in the US added more than half of all capacity in 2022, followed by residential solar as the top market segments, community solar is slowly working towards accelerated growth in the coming years. By the end of the fi­rst quarter of 2023, installed community solar capacity reached 5.8GW, according to data from trade body Solar Energy Industries Association (SEIA).

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Source: PV Tech

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Date Creek rancher Savannah Figueroa is using federal dollars to reduce her carbon footprint while growing her business.

Arizona rancher switches to solar energy thanks to federal funding

Agriculture brings in billions of dollars for our state each year. It also emits a lot of gasses that contribute to climate change. Date Creek rancher Savannah Figueroa is using federal dollars to reduce her carbon footprint while growing her business.

She provides meat to communities across the High Country. She and her husband take part in every step of the process, from raising the cattle to storing and selling the meat. It’s not an easy job for her or the environment, but their ranch is flipping the switch. “Our ranch is carbon positive. Meaning we store more carbon in our soil than we emit. Quite the feat for a cattle business,” said Figueroa.

Figueroa is one of the many agricultural workers finding ways to reduce their carbon footprint. She used the Rural Energy for American Program to install solar panels on their ranch. They are used to power refrigerators, barns and other equipment.

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Source: AZ Family

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In less than a year, IRA has prompted investment in a massive buildout of battery and EV manufacturing across the states.

One year old, US climate law is already turbocharging clean energy technology

On a recent day under the July sun, three men heaved solar panels onto the roof of a roomy, two-story house near the banks of the Kentucky River, a few miles upstream from the state capitol where lawmakers have promoted coal for more than a century.

The U.S. climate law that passed one year ago offers a 30% discount off this installation via a tax credit, and that’s helping push clean energy even into places where coal still provides cheap electricity. For Heather Baggett’s family in Frankfort, it was a good deal.

“For us, it’s not politically motivated,” said Baggett. “It really came down to financially, it made sense.”

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Source: The Daily

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The US Treasury Department has just issued new rules regarding tax credits for solar power installations in the US. Not everyone is happy.

US Treasury announces new solar tax credit guidance

Unless you have been living under a rock lately, you are probably aware that a titanic struggle is taking place in the US over solar power. On the one hand, the federal government wants to speed up the installation of solar power plants to help lower carbon emissions from thermal generating plants. To accomplish that goal, there are many incentives included in recent federal legislation, like the Inflation Reduction Act, that are worth billions of dollars.

On the other hand, the government wants to encourage domestic production and protect American manufacturers from overseas competitors who may be using forced labor and government subsidies to make solar cells and panels that they sell for less than the cost of manufacturing. It’s a delicate dance, one that is fraught with geopolitical implications.

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Source: Clean Technica

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Community solar is poised to become much more common thanks to a new $7 billion fund tied to the Inflation Reduction Act.

Community solar is about to get a surge in federal funding. So what is community solar?

On a farm field east of Faribault, Minnesota, a 1.3-megawatt solar array provides electricity to serve about 180 subscribers.

The project, which occupies about six acres, is an example of community solar—also called “shared solar” or “solar gardens”—a kind of development in which subscribers receive credits on their monthly utility bills for the solar electricity produced.

Community solar is poised to become much more common thanks to a new $7 billion fund tied to the Inflation Reduction Act. The EPA began the process of setting up the fund last week.

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Source: Inside Climate News

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The researchers said that at least 6GW of community solar is expected to come online in existing markets between 2023-27.

US community solar set to double in five years as the IRA creates optimism

US community solar deployment is expected to more than double over the next five years despite 2022 seeing a 16% decline year-on-year, as the sector is set to see benefits from the Inflation Reduction Act (IRA) taking hold.

According to a report from Wood Mackenzie and the Coalition for Community Solar Access (CCSA), 2022 saw 1.01GW of community solar installed across the US, a fall from 1.19GW in 2021.

Community solar is a description of relatively small-scale solar projects that serve local communities.

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Source: PV Tech

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The industry has seen US manufacturing expansion and groundbreaking announcements directly triggered by the IRA at the end of 2022.

2022 paves way for massive growth for solar + storage industry

Robust federal clean energy policy has laid the groundwork for a decade of explosive growth for the solar and storage industries. A 10-year extension of the investment tax credit, new incentives for domestic solar product manufacturing and many other provisions will help solar and storage meet the increasing demand for home-grown, clean energy.

The industry has already seen U.S. manufacturing expansion and groundbreaking announcements directly triggered by the Inflation Reduction Act at the end of 2022, with developers eager to collect the 10% ITC adder for sourcing domestic content. From mounting companies like Nextracker, with an expanding manufacturing facility in Pennsylvania, to panel makers like Heliene, with expansion plans at a Minnesota facility, the legislation is delivering more solar manufacturing to U.S. soil.

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Source: Solar Power World

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