Major movement in the United States of America at the end of the Biden-Harris Administration's term. The Treasury Department and the Internal Revenue Services issued final regulations for the following matters of high importance to the process of decarbonizing the economy, under the aegis of the IRA - Inflation Reduction Act approved by Congress and signed into law by President Biden on August 16, 2022.
The following is the sequence of the regulations issued:
Release January 3 : Tax credits for low-carbon hydrogen production, including clarification of rules for participation in regional low-carbon hydrogen hub programs, which covers electrolysis and steam methane reforming technologies;
Release January 7 : Tax credits for low-carbon electricity generation based on technology neutrality, which aim to save up to $38 billion on American families' electricity bills;
Release January 8 : Tax incentives to expand $7.5 billion in clean energy investments and reduce costs targeted at low-income communities.
RADARH2 EDITORIAL
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