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Tesla Vice President of Finance Sendil Palani recently addressed claims from former secretary of labor and UC Berkeley Professor Robert Reich about the electric vehicle maker’s federal tax payments. Reich was alleging in a post on X that some big companies and the rich are getting away with fraud by not paying federal taxes.
Project Volt Gas Volt is based on a long-term financing plan and the use of existing technologies for the large-scale conversion of surplus renewable electricity to methane, with subsequent reuse. Audi, along with ETOGAS, is building the first commercial-scale demonstration plant (6.3 Financing Project VGV: the Green Redemption Fund.
In January 2023, state taxes and fees on gasoline and diesel fuel averaged $0.3163 per gallon (gal) of gasoline and $0.3388/gal of diesel fuel, according to the US Energy Information Administration (EIA). These taxes have increased in 13 states since July 2022. gal), although that low tax rate will gradually increase through May 2023.
The Minnesota Department of Transportation (Mn/DOT) will recruit 500 people from Wright and Hennepin counties to take part in research to test technology that could someday be used to collect a mileage-based user fee (MBUF) in lieu of a gasoline tax. These funding sources support construction and maintenance of the highway system.
While notable exceptions exist, the report says, the financing framework is often skewed towards supporting the motorization model: Domestic public finance is mainly used to build and maintain infrastructure to cater to increasing levels of motorized traffic.
Senate Finance Committee Chairman Max Baucus (D-Mont.) introduced the latest in a series of discussion drafts to overhaul the US tax code. This new staff discussion draft focuses energy tax policy on stimulating domestic, clean production of electricity and transportation fuels, which account for 68% of energy consumed in the US.
Minor changes to an existing Federal tax incentive for second-generation biofuels (i.e., Minor changes to an existing Federal tax incentive for second-generation biofuels (i.e., The study identified four specific changes to the US tax code that could help accelerate the commercialization of second-generation biofuels.
A group of 35 biotechnology and biofuel companies and trade associations are urging the leaders of the House Ways and Means Committee to extend tax credits for cellulosic biofuels for four years, to allow algae biofuels to qualify for those tax credits, and to create an option for monetizing the tax credits as tax refunds.
will build its new $303 million lithium-ion battery manufacturing facility in Holland, Michigan. Scheduled for groundbreaking this summer, the 650,000 square-foot facility will be financed in part from a $151.4 LG Chem Ltd. Initially, the plant will make cells for the Chevrolet Volt. Michigan Governor Jennifer M.
In the Pre-Budget Report (PBR) released on 9 December, UK Chancellor Alistair Darling announced that all electric cars will be exempt from Company Car Tax (CCT) for 5 years and electric vans will be exempt from Van Benefit Charge (VBC) for the same period. The PBR also has news of an additional £30 million (US$48.5 Earlier post.).
As part of a comprehensive reform plan to simplify the Commonwealth of Massachusetts’ transportation system, Governor Deval Patrick is proposing a fuel tax increase of $0.19 The increased fuel tax is intended to be in lieu of an increase in tolls. Future increases in the state fuel tax would follow the Consumer Price Index.
Virdia, formerly HCL CleanTech, a developer of cellulosic sugars, announced a number of major company milestones, including a new brand and CEO, its latest funding round, and a $75-million deal with the Mississippi Development Authority to build manufacturing plants in the state. Earlier post.)
Additionally, through its stimulus programs and local industrial policies, the Chinese government is providing a range of grants, low-interest loans and related financial and tax incentives. Existing Boston-Power investors Oak Investment Partners and Foundation Asset Management (FAM) also participated in the round. Reorganizing.
In a deal brokered by the city’s newly commissioned Citizens Environmental Task Force, Exxon/Mobil, owners of the Exxon/Mobil Refinery in the City of Torrance agreed today to fund a bond that will make low cost financing of solar energy systems for home and apartment owners. 2. Green Building & Remodeling.
Capturing the benefits of profitable efficiency investments in buildings, industry, and transportation could increase US economic output by as much as 2% in 2030. Reform federal energy efficiency tax incentives so that they focus on high efficiency technologies and measures and on promoting innovation and market transformation.
Vehicle tax credits or rebates. Further, the authors note, building up charging infrastructure is central to US policy. Thus, the majority of PEV tax credits will subsidize purchases that would have happened anyway without the tax credit and will have little-to-no effect on petroleum displacement and emissions reductions.
Archer plans to initially build out a 350,000 square-foot facility, capable of producing up to 650 aircraft per year. Archer intends to invest $118M over the next 10 years and will receive an incentive package totaling 33% of its capital investment commitment, which includes land conveyance, tax incentives and Georgia REBA grant.
The environmental law centers at UCLA and UC Berkeley Schools of Law today released a new policy paper on industry actions and federal, state, and local policies needed to ensure that California catalyzes mass adoption of electric vehicles by 2025, with the goal of building a long-term market in the US. non-plug-in) in the US.
The US has up to now adhered to the user-fee principle in financing transportation infrastructure—i.e., users pay for the construction and maintenance of roads via a federal fuel tax. User Charges Based on Fuel Consumption (Gasoline and Carbon Taxes). States use similar mechanisms. —Huang et al.
Yesterday, Zimbabwe’s Finance Minister, Professor Mhtuli Ncube, presented the 2025 National Budget under the theme “Building Resilience for Sustained Economic Transformation.” Most of the feedback focused on the plethora of additional taxes proposed.
. $37 million in undiscounted pre-tax free cashflow to the project forecasted during the first full year of production. 139 million after-tax net present value (NPV) using an 8% discount and 53% after-tax internal rate of return (IRR), representing a payback period of only 1.8 NPV – Pre-Tax (8% Discount Rate).
The Assessment Framework builds on Canada’s commitment under the 2021 Glasgow statement to end new direct public support for the international unabated fossil fuel energy sector. Canada is also committed to phasing out public financing of the fossil fuel sector.
Hawaiis Department of Budget and Finance is now authorized, with the approval of Governor Neil Abercrombie, to issue special purpose revenue bonds in an amount not to exceed $50,000,000 for the purpose of planning, permitting, design, construction, equipping, and operating BioTork Hawaii LLCs commercial facilities.
The “Inflation Reduction Act” will drive roughly 30GW/111GWh of energy storage build from 2022 to 2030, according to BNEF. However, while the new tax credit policy supports more growth based on BNEF’s long-term forecast, supply chain constraints cloud deployment expectations until 2024.
priorities in clean energy and advanced manufacturing, through grants, financing assistance, and tax incentives that accelerate fundamental. Works through the President’s Better Building Initiative to make non-residential buildings more. These funds are. part of a broad energy strategy that emphasizes.
” The roadmap report examines the challenges facing electrification, including battery technology and cost, infrastructure financing, regulatory requirements, electric power sector interface, and consumer acceptance issues. Modify building codes to promote GEV adoption. Extend consumer tax credits for home charging equipment.
New retail approaches, including new methods for building dealer competence, could improve the PEV buying experience. Dealers emphasized that salesperson competence, as well as salesperson confidence, is a by-product of hands-on learning achieved through regular exposure and repetition that builds on one success after another.
Eos Energy, a provider of safe, scalable, efficient, and sustainable zinc-powered long-duration stationary energy storage systems, announced Project AMAZE (American Made Zinc Energy), a $500-million planned expansion and a significant milestone to build 8 GWh of clean energy storage production capacity.
If state and local agencies are involved in system implementation, the system should be designed to be cost-beneficial for state and local transportation agencies in regards to building, operating, and maintaining. USDOT is receptive to all sustainable financing options that do not violate other principles.
3442 , which has been referred to the Committee on Finance. According to a Brookings Institution study, we could do this without building one new power plant, if we plugged our cars in at night when the country has huge amounts of unused electricity. Full text of the two bills as introduced is not yet published.
The government calls for implementing trademark and brand strategies to strengthen IPR creation, utilization, protection and management, building the patent system of the whole industry chain, and improving industrial competitiveness.
The Sundrop Fuels advanced biofuels plant will cost approximately $450 to $500 million to build and will be financed in part through the sale of tax-exempt Private Activity Bonds, which do not entail any financial obligation from state or local authorities.
Launched at the Rio+20 summit in Brazil, the Global Initiative for Resource-Efficient Cities is intended to work with local and national governments, the private sector and civil society groups to promote energy efficient buildings, efficient water use, sustainable waste management and other activities.
billion in tax subsidies for oil, coal and gas industries. 231 million for building technologies. Select EERE Programs and Financing (US$ millions). Building technologies. increase over FY 2010 estimates. This step is estimated to generate more than $38.8 302 million for solar energy. 137 million for hydrogen technology.
Energy storage might form a relatively small piece of the overall financing required, but it is a strategically critical piece of the puzzle. Batteries are the platform technology for clean energy goals, so financing these supply chains is at the heart of the race towards net zero. Most of this (56%) will be put towards building 1.2
To address the lack of emissions reductions in road transport and buildings, a separate new emissions trading system is set up for fuel distribution for road transport and buildings. The tax system for energy products must safeguard and improve the Single Market and support the green transition by setting the right incentives.
The new goal is that efficiency standards for appliances and federal buildings set in the first and second terms combined will reduce carbon pollution by at least 3 billion metric tons cumulatively by 2030—equivalent to nearly one-half of the CO 2 emissions from the entire US energy sector for one year.
These platforms—which combine open alliance legal agreements (like Visa or Mastercard's legal agreements), distributed ledger technology (for example, blockchains like IBM's hyperledger ), and end-to-end encryption—can handle not only payments but also finance, trade, tax, and audits in a uniform manner.
Darling International and a subsidiary of Valero Energy Corporation are taking initial steps towards the formation of a joint venture to build a facility capable of producing more than 10,000 barrels/day or (135 million gallons per year) of renewable diesel on a site adjacent to Valero’s St. Charles refinery near Norco, Louisiana.
transportation, and ensure state fuel taxes can support all transportation modes. Efforts should shift from building highway networks to building other forms of transportation that are cleaner, more efficient, and in high demand. Update transportation financing and funding formulas to reward reductions in driving, VMT, and fuel.
Also Tax Collector, Auditor & Controller. He’s also the County Tax Collector and the County Controller and the County Auditor. One thing Ann Livingston said that stuck with me was that a 15 year term loan results in half the finance cost and one quarter of the total cost for the loan compared to a 20 year term.
Rebates & Tax Credits Don’t Help Most Americans. Even though there are generous EV tax credits, rebates from states and utilities, and other incentives that can save drivers $10,000 or more per EV, most people aren’t aware these programs even exist. Put all together, the customer saves up to $200 a month.
The KPMG study, “Expect the Unexpected: Building Business Value in a Changing World”, explores issues such as climate change, energy and fuel volatility, water availability and cost and resource availability, as well as population growth spawning new urban centers. —“Expect the Unexpected: Building Business Value in a Changing World”.
billion EOT carry account loan in full, comprising the amount of common share investments in OT LLC funded by TRQ on behalf of EOT to build the project to date, plus accrued interest. This is in line with restrictions on debt financing contained in Resolution 103, passed on 30 December 2021.
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