Article Summary – The IRS has issued further guidance on the energy communities provision of the Inflation Reduction Act on March 22, 2024, detailing how offshore wind projects can qualify for the EC bonus credit and how industries are included for the fossil fuel employment rate calculation in the Statistical
Article Summary – Virginia is applying for federal funds to implement its Priority Climate Action Plan (PCAP) which targets emissions reduction in various sectors. Local oil and gas companies have opposed this plan, asserting that it abandons Virginia’s commitment to expanding renewables and relying on lower-carbon energy sources like natural
Article Summary – The Florida Legislature has approved a $117.5 billion 2024-2025 budget plan, designating more than $346 million under the Inflation Reduction Act (IRA) for home efficiency and electrification/appliance rebates. These federal funds are intended to encourage the installation of higher-efficiency HVAC systems and energy-saving home upgrades. However, Florida
Article Summary – The Ohio Department of Natural Resources Division of Forestry has awarded nearly $5.5 million in grants for 36 urban forestry projects across Ohio through the Inflation Reduction Act (IRA) Urban Forestry Grant Program. The grants range from $50,000 for emerging urban forestry programs to $1 million for
Article Summary – In the US, the 2022 Inflation Reduction Act penalizes research on certain categories of drugs, potentially leading to negative consequences for patients. The Act sets different grace periods before new drugs become eligible for government price-setting, with biologics receiving a grace period of 13 years and small-molecule
Article Summary – The article discusses China’s displeasure with the United States’ Inflation Reduction Act, due to its revisions to the way electric vehicle (EV) tax credits operate. The Act encourages manufacturers to procure materials from countries that comply with free trade and to build EVs in North America, aiming
Article Summary – Two small-scale solar manufacturers, Suniva and Heliene, have partnered to produce panels for their respective customer bases of US solar project developers. Under the three-year $400 million deal, Georgia-based Suniva will provide cells to Canada’s Heliene, which will assemble them into panels that can supply around 2 GW
Article Summary – The US Department of Health and Human Services announced that 41 prescription drugs available through Medicare Part B will cost less due to the Inflation Reduction Act signed by President Biden in 2022. The law requires drug companies to pay into the Medicare Supplementary Medical Insurance Fund
Article Summary – China has lodged a complaint with the World Trade Organization (WTO) against the US Inflation Reduction Act (IRA), arguing that its subsidy policies discriminate against foreign automakers and distort fair competition. Chinese automakers have been successful in delivering affordable electric vehicles (EVs) across a variety of segments,
Article Summary – The U.S. Department of Agriculture (USDA) is investing about $138 million from the Inflation Reduction Act into 138 new climate-smart conservation easements to support climate-smart agriculture and forestry initiatives. The easements are part of the Agricultural Conservation Easement Program (ACEP), which aims to conserve wetlands, grasslands, and
Article Summary – The Internal Revenue Service (IRS) hosted the Inflation Reduction Act (IRA) Industry Day to enhance transparency and deepen collaboration with industry partners. The event focused on the IRS’s Strategic Operating Plan (SOP) priorities and how to navigate the challenges and opportunities presented by the IRA, a significant
Article Summary – House Republican Leader Steve Scalise remains a supporter of fossil fuels, promoting legislation that makes it easier to drill oil and gas on federal lands and opposing progressive climate policies. During an interview, he disputed the idea that human-made climate change is a threat, justifying fossil fuel
