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AFS Trinity Awarded Patent for Extreme Hybrid Drivetrain; Company Arguing for Full PHEV Tax Credit

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The company said it expects DOE and US Congressional recognition of the cost, safety and performance benefits of the new technology in the form of the full plug-in hybrid tax credit of $7,500 to vehicles using this technology.

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BNEF: global carbon capture capacity due to rise sixfold by 2030

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The “Inflation Reduction Act” passed in the US increased tax credits for CCUS by 70%, making a viable business case for the technology in petrochemicals, steel, cement, and in some regions, power. But removals are present in every long-term net-zero model. They are here to stay.

Carbon 293
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US DOE releases 2023 Critical Materials Assessment to evaluate supply chain security for clean energy technologies

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In addition to informing crosscutting DOE priorities including the Critical Materials Research, Development, Demonstration, and Commercialization Application Program (RDD&CA), the DOE Critical Materials List will inform eligibility for tax credits under the Inflation Reduction Act 48C.

Clean 370
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Using blockchain traceability to build a circular battery economy

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In the US, the Clean Vehicle Tax Credit calls for automakers to provide proof of where they are sourcing their critical minerals and manufacturing their battery components, while the upcoming EU Battery Regulation will focus on proof of sourcing, responsible provenance, chain of custody, recycled materials and embedded carbon.

Economy 330
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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

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Previous studies have attempted to explain the slow commercialization of cellulosic and algal biofuels qualitatively, however few have presented financial analysis across the sector, the authors observe. While a Federal tax credit for the production of second-generation biofuels exists, its use has remained limited.

Tax 262
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OECD paper presents and analyzes policies and programs to foster market growth of green cars

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The paper, “Market Development for Green Cars”, presents and analyses policies, programs and approaches for the development, market introduction and diffusion of green cars (primarily from the demand (pull) side). Tax credits and subsidies may end up being highly regressive, and only reward those who need them the least.

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BNEF forecasts global energy storage market to grow 15-fold by 2030 to 411 GW/1194 GWh

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However, while the new tax credit policy supports more growth based on BNEF’s long-term forecast, supply chain constraints cloud deployment expectations until 2024. Europe, however, is catching up with a significant ramp-up in capacity fueled by the current energy crisis.