US Treasury launches bonus energy tax credits for low-income communities

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“The U.S. Treasury Department and the Internal Revenue Service on Thursday issued final rules for a new program that will boost tax credits for qualified solar and wind facilities in low-income communities by up to 20 percentage points. Part of President Joe Biden’s Inflation Reduction Act (IRA), the program aims to increase clean-energy facilities and lower costs in poor U.S. communities and Tribal areas, many of which are also struggling with climate change and chronic poverty.”

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