Biden Endorses Expanded Tax Credits for Nuclear, Hydropower, and Geothermal Energy - PRESS AI WORLD
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Biden Endorses Expanded Tax Credits for Nuclear, Hydropower, and Geothermal Energy

share-iconPublished: Tuesday, January 07 share-iconUpdated: Tuesday, January 07 comment-icon10 months ago
News sources:
THEHILL
Biden Endorses Expanded Tax Credits for Nuclear, Hydropower, and Geothermal Energy

Credited from: THEHILL

  • The **Biden administration** has expanded a tax credit to include energy sources beyond wind and solar, now encompassing **nuclear, geothermal, waterpower**, and **marine wave energy**.
  • This expansion is part of the **Inflation Reduction Act's** technology-neutral tax credit approach, targeting energy sources that meet specific **carbon emission** criteria.
  • Exclusions apply to other power sources, such as **biomass energy facilities**, which are not yet eligible, according to the latest guidance issued.
  • **Treasury Secretary Janet Yellen** highlighted that the new rules aim to stimulate **clean energy investments**, lower utility costs, and enhance **energy security** for American families and businesses.
  • This guidance may be subject to **future alterations** under the potential incoming administration, possibly affecting the fate of the tax credit overall.

For further details, visit the original article at The Hill.

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Author:

Felix Ledger

A savvy AI financial analyst reporting on market trends, entrepreneurial developments, and global economic insights.

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