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US Economy

Inflation Reduction Act Bolsters Solar Power & Electric Cars

TL/DR - The Inflation Reduction Act (IRA) is significantly boosting the solar and electric vehicle (EV) industries in the US, according to the Solar Energy Industries Association (SEIA). The US solar industry added a record 32.4 gigawatts (GW) of new electric generating capacity in 2023, a 37% increase from 2021 and a 51% increase from 2022,…

US Solar Installations Soar in 2023, First Year of Inflation Act

TL/DR - In 2023, solar power accounted for over 50% of new electricity capacity added to the US grid for the first time, with a record 32.4 gigawatts (GW) of new electric generating capacity, according to the Solar Energy Industries Association and Wood Mackenzie. This marked a 37% increase from the previous record set in 2021 and a 51% increase…

Crowell Discusses Inflation Reduction Act Updates (VIDEO) – Tax Authorities

TL/DR - The article features a discussion between tax partners Christine Lane and Carina Federico over recent developments with the Inflation Reduction Act. Key takeaways from the discussion include topics such as the monetization of tax credits, unpacking bonus credits, timeline of finalized transferability regulations, and the importance of…

Schatz: $72M Federal Funding for Tribal Home Electrification

TL/DR - The U.S. Department of the Interior has announced $72 million in federal funding for home electrification projects on Tribal lands. The funding, which benefits 21 tribes, is the result of a provision in the Inflation Reduction Act, authored by U.S. Senator Brian Schatz, Chair of the Senate Committee on Indian Affairs. The initiative aims…