The U.S. Treasury Department and the Internal Revenue Service on June 14 provided guidance on important provisions within the 2022 Inflation Reduction Act, or IRA. The department plays a leading role in implementing the IRA, as much of the clean energy investment is delivered through tax incentives. The proposed guidance clarifies eligibility, processes, and addresses…...
Community solar is poised for significant growth across the U.S. driven by state actions to encourage solar power and incentives in the 2022 Inflation Reduction Act (IRA). Also known as shared solar, community solar allows multiple energy customers to participate in projects that are remotely located and receive credits to lower their electricity bill.
The Electric Reliability Council of Texas announced the launch of a new daily procured ancillary service aimed to support grid reliability and reduce real-time operational issues to balance supply and demand. The new service, called ERCOT Contingency Reserve Service, or ECRS, marks the first such service introduced to the market in more than two decades…....
The 60th quarterly carbon auction of the Regional Greenhouse Gas Initiative, or RGGI, the nation’s first market-based emissions regulation program, sold all of the more than 22 million CO2 allowances offered at a clearing price of $12.73, according to results released on June 9. By comparison, allowances cleared at $12.50 in the previous auction held…...
The U.S. Energy Department on June 12 unveiled a funding package exceeding $192 million, aimed at advancing battery recycling for consumer products. This initiative includes the establishment of an advanced battery research and development consortium, as well as the continuation of the Lithium-Ion Battery Recycling Prize, which was initiated in 2019. This investment supports the…...
The U.S. Energy Department’s Loan Programs Office on June 9 announced a conditional commitment of an $850 million loan intended to provide financial support for the construction of KORE Power Inc.’s advanced battery cell manufacturing facility in Buckeye, Arizona. The facility, named “KOREPlex,” would bolster the domestic battery supply chain by increasing the battery cell…...
Federal and state goals have boosted the offshore wind industry, leading to several projects under various stages of development. Although cost increases have challenged some projects along the East Coast, development activities are gaining momentum along the West Coast.
The U.S. Energy Department on June 9 announced grants totaling $26 million to thirteen university, nonprofit, and private-sector teams across twelve states and the District of Columbia to support the implementation of the consent-based siting for the storage and disposal of spent fuel. The project teams, representing diverse geographic and institutional backgrounds, will receive $2…...
Energy consumers in Michigan can anticipate more affordable prices in 2023 summer compared to 2022, according to a June 7 report released by the Michigan Public Service Commission. The report projects a decrease of 86 cents per gallon in average seasonal gasoline prices. Although there may be a slight increase in electricity costs, this will…...
Heightened activity around energy storage reflects the growing importance of the technology to meet clean energy goals. Increasing levels of renewable energy, electrification of buildings and transportation, as well as… Read the full report …...
