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Clean energy tax credit safeguards could save taxpayers $1 trillion

Summary by TechXplore

A study published in Environmental Research: Energy shows why new safeguards adopted by the U.S. Treasury Department are necessary to avoid substantial climate impacts and wasted taxpayer resources from a generous hydrogen production tax credit.

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Clean energy tax credit safeguards could save taxpayers $1 trillion

3 months ago

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Carbon Pulse

US Treasury races to finalise clean electricity tax credits before administration change « Carbon Pulse

The US Department of Treasury (DOT) and the Internal Revenue Service (IRS) released on Tuesday final federal guidance on eligibility for income tax credits in the investment and production of clean electricity, days before the start of President-elect Donald Trump’s second term.

3 months ago

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Accounting Today

IRS, Treasury finalize rules for clean electricity tax credits

The Treasury Department and the IRS released final rules for the Clean Electricity Investment and Production Tax Credits in Sections 45Y and 48E of the Tax Code.

3 months ago

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H2 Energy Group

H2-View News: US clean energy tax credit safeguards ‘save $1 trillion’

Without safeguards, hydrogen producers could potentially claim the highest level of tax credits ($3 per kilogramme) for producing ‘gray’ hydrogen from fossil natural gas, by blending in small amounts of biomethane or waste methane. Allowing this blending could support about 35 million metric tonnes of hydrogen production per year, leading to the extra taxpayers’ costs

3 months ago

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Hydrogen View

US clean energy tax credit safeguards ‘save $1 trillion’

A new study published in IOP Publishing’s journal Environmental Research: Energy shows why new safeguards adopted by the US Treasury Department will not only avoid climate impacts but also save up to $1 trillion in taxpayers’ money over 10 years.

3 months ago

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Scienmag: Latest Science and Health News

Proposed Clean Energy Tax Credit Protections Could Yield $1 Trillion in

A recent study published in the journal Environmental Research: Energy reveals significant insights into the implications of clean energy tax credits, particularly focusing on the newly implemented hydrogen production tax credit in the United States. Amid increasing pressures to transition to greener energy sources, this research highlights crucial safeguards that the U.S. Treasury Department has introduced to mitigate potential negative impacts…

3 months ago

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