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Proposed Federal EV Tax Credit Reform: Will It Move the Sales Needle?

EV Adoption

On February 5, Mike Thompson , Chairman of the House Ways and Means Subcommittee on Select Revenue Measures announced the introduction of the Growing Renewable Energy and Efficiency Now (GREEN) Act (PDF). Rather than reforming the tax credit, it’s time to admit it hasn’t worked and blow it up and move in a different direction.

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DOE awards $98M in tax credits to automakers and suppliers for clean technology manufacturing

Green Car Congress

The US Department of Energy (DOE) announced $150 million in clean energy tax credits to 12 businesses to build US capabilities in clean energy manufacturing; $98 million of that goes to five automakers and suppliers towards investments in domestic manufacturing equipment. Funded at $2.3 Funded at $2.3 Lead organization. Description.

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Canada’s Budget 2022 calls for C$3.8B to launch Critical Minerals Strategy

Green Car Congress

The introduction of a new 30% Critical Mineral Exploration Tax Credit for specified mineral exploration expenses incurred in Canada and renounced to flow-through share investors. Specific measures proposed in Budget 2022 to support critical mineral projects include: Up to $1.5 Canada’s list of critical minerals.

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Delek sells AltAir renewable diesel/jet business to World Energy for $72M

Green Car Congress

The sale includes all of Delek’s membership interests in AltAir Paramount, LLC which operates a 3,000 barrel per day renewable diesel and renewable jet fuel facility, Delek’s idled Paramount refinery, and associated pipelines and storage tanks. Earlier post.). —Uzi Yemin, Chairman, President and CEO of Delek.

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The first entirely US-made crystalline solar panels are coming to market

Baua Electric

Suniva says the catalyst for the pairing was solar project owners and developers wanting their projects to qualify for the 10% Domestic Content Bonus Investment Tax Credit. Now, though there remain significant challenges, Inflation Reduction Act tax credits are helping change the game.”

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Sen. Baucus draft for energy tax reform focuses on clean production of electricity and fuels; repeals plug-in vehicle credits

Green Car Congress

It also would repeal a number of current tax incentives, including those for plug-in electric vehicles and fuel cell vehicles. Of the 42 different energy incentives, 25 are temporary and expire every year or two, and the credits for clean electricity alone have been adjusted 14 times since 1978.

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BIO Calls for Policies to Nurture BioBased Chemicals and Plastics Industry in US

Green Car Congress

Biobased chemicals and plastics represent a historic opportunity to reverse these trends through the creation of a new generation of renewable, sustainable products developed and produced in the United States. Biobased Chemicals and Products: A New Driver of US Economic Development and Green Jobs”.