Tag: Inflation Reduction Act (IRA)
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Federal funding for clean energy projects to strengthen U.S. farms
The U.S. Department of Agriculture is investing more than $120 million in renewable energy projects in 44 states. The funding is aimed at lowering energy costs, generating new income and creating jobs for U.S. farmers, ranchers, agricultural producers and rural small businesses. Most of the projects are being funded through the Inflation Reduction Act, through the Rural Energy……
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IRS adds 446 counties to list qualifying for Energy Communities tax credit
The Internal Revenue Service added 446 more U.S. counties to the list where renewable energy projects could qualify for a 10% Energy Community tax credit bonus under the Inflation Reduction Act. The 446 counties are in statistical areas that the IRS identifies as potential energy communities. Not all of the 446 qualify for the bonus……
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Can’t blame IRA | Prevailing wage requirements have no impact on large project costs
Solar labor costs are high and rising, driving “astronomical” bids from EPCs, but market fundamentals, not the IRA’s prevailing wage requirements, are to blame, experts told Solar Builder Magazine. The IRA requires all laborers and mechanics employed by a developer or subcontractor constructing, altering, or repairing a solar project over 1 MW to be paid……
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Feds release final rules on direct pay provisions in IRA
The U.S. Department of the Treasury and the Internal Revenue Service have released final rules on the direct pay provisions included in the Inflation Reduction Act (IRA). The tax credits are part of the Biden-Harris administration’s “Investing in America” agenda to help build projects more quickly and affordably. The IRA created two new credit delivery……