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US Economy

Claiming Tax Credits for Clean Energy Under Inflation Reduction Act

TL/DR - The U.S. Department of the Treasury and the Internal Revenue Service released Proposed Regulations on clean electricity production and investment tax credits, known as Tech-Neutral Credits, on May 29, 2024. These credits are key to the Biden Administration’s energy incentives in the Inflation Reduction Act of 2022 and will play an…
US Economy

Chinese companies target Morocco for US electric vehicle subsidies

TL/DR - Chinese manufacturers are investing in Morocco to qualify for $7,500 credits to US car buyers after the US passed new electric vehicle (EV) subsidies. This comes as the US and the European Union have imposed new tariffs on Chinese vehicle imports. At least eight Chinese battery makers have announced investments in Morocco since the US…
US Economy

Manchin Reveals Fight for EV-Boosting IRA

TL/DR - Sen. Joe Manchin played a significant role in shaping the Biden Administration's Inflation Reduction Act, which aimed to build a market and infrastructure for electric vehicles in the U.S. He initially blocked the Build Back Better plan and later worked to break the bill into two parts; one for infrastructure and the other to build a…
US Economy

Rural Monroe County Eligible for 90% Solar Power Funding

TL/DR - The article announces that rural businesses and farms in Monroe County can qualify for up to 90% funding for solar power installations. This is made possible by two government programs: the Inflation Reduction Act and the Rural Energy for America Program (REAP). The Inflation Reduction Act provides a 30% tax credit and a bonus of 10%…