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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.

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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.

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

Green Car Congress

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. Meanwhile, projects face long lead times to finance, develop and commission.

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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

The study identified four specific changes to the US tax code that could help accelerate the commercialization of second-generation biofuels. While a Federal tax credit for the production of second-generation biofuels exists, its use has remained limited. —Miller et al.

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Fisker Lands Additional $85M for Karma Plug-in

Green Car Congress

has entered into definitive agreements to receive an additional $85 million in venture capital funding for the development and manufacturing of its Karma plug-in hybrid automobiles. The financing is expected to be completed this month and will be the fourth and largest investment round since the company’s inception in August 2007.

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Senators Kerry and Lieberman Release Details of Energy and Climate Bill; Incentives for Electric Drive and Natural Gas Vehicles

Green Car Congress

The bill increases incentives for clean technology manufacturing, by expanding the clean energy manufacturing tax credit by $5 billion, providing incentives for the production of advanced vehicles and component parts and funding investments in energy efficiency innovation. The American Power Act. Section by section summary of the bill.

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Rivian introduces two quad-motor, AWD “Electric Adventure Vehicles”

Green Car Congress

The R1T and R1S will launch with a robust hardware suite with multiple sensor systems including camera, lidar, radar, ultrasonic and a high precision GPS coupled with high definition maps. R1T pricing starts at $61,500 after Federal Tax credit. R1S pricing starts at $65,000 after Federal Tax credit.

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