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Proposed Changes to Federal EV Tax Credit – Part 5: Making the Credit Refundable

EV Adoption

One of the biggest complaints about the federal electric vehicle (EV) tax credit (IRC 30D) is that its structure of using a non-refundable tax credit is clearly more beneficial to higher-income households. How the Current Tax Credit Works For EV Buyers. And another 7 PHEVs qualify for credits of between $6,670 and $7,500.

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EV tax credit score rules will have to be adopted, Manchin tells Treasury

Baua Electric

“My comment is simple: Follow the law,” he wrote in an 11-page letter to Treasury, explaining that the tax credit score’s objective is “no longer to promote the purchase and use of [EVs] … but to promote reliable domestic supply chains for the critical minerals and battery components” had to energy them.

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Cummins to acquire Meritor in $3.7B deal

Green Car Congress

Cummins has entered into a definitive agreement to acquire Meritor, a global leader of drivetrain, mobility, braking, aftermarket and electric powertrain solutions for commercial vehicle and industrial markets. Under the terms of the agreement, Cummins will pay $36.50 billion, including assumed debt and net of acquired cash.

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ICCT suggests minor changes to Fed tax policy to cut higher investment risk of 2nd-gen biofuels and advance the industry

Green Car Congress

Minor changes to an existing Federal tax incentive for second-generation biofuels (i.e., Minor changes to an existing Federal tax incentive for second-generation biofuels (i.e., The study identified four specific changes to the US tax code that could help accelerate the commercialization of second-generation biofuels.

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Liontown and Tesla enter into a binding term sheet for supply of lithium from Kathleen Valley project

Green Car Congress

Major construction of the A$473-million (US$340-million) project is scheduled to commence by Q4 CY2022 following the completion of a positive Definitive Feasibility Study (DFS) in late 2021 which outlined a post-tax NPV 8 (net present value using a discount rate of 8%) of A$4.2 billion (US$3 billion) and IRR of 57%.

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Government of Canada releases framework for ending fossil fuel subsidies

Green Car Congress

The Assessment Framework—the first transparently published methodology worldwide—will be used to determine which tax and non-tax measures constitute an inefficient fossil fuel subsidy. definition of subsidies as a reference. C, and account for the availability of credible alternative energy sources.

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Eos Energy launches $500M Project AMAZE with $398.6M conditional loan guarantee from DOE; long-term zinc-based storage

Green Car Congress

Domestic production better positions Eos to access the 45X advanced manufacturing direct pay tax credits available under the IRA. The Eos Z3 battery contains predominately American components and is specifically designed for mass production and meeting low-cost, long-duration, grid-scale stationary energy storage needs.