The bill is expected to go to the Senate floor this week
US act would expand credits for transition technologies
Bill would provide support to companies involved in the manufacture of wind turbine components, solar panels and EV batteries
The US’ proposed Inflation Reduction Act 2022 bill, announced last week, extends or expands credits for virtually every energy transition sector—including wind, solar, hydrogen, carbon capture and storage (CCS), and nuclear. The bill would mean payments being sent directly to companies involved in the manufacture of wind turbine components, solar panels and electric-vehicle (EV) batteries under a five-year, $60bn production tax credit. Tax credits for EV battery makers and materials suppliers require that materials be sourced from the US or free-trade agreement nations—which could be problematic, given China’s dominance of midstream battery materials production. $369bn – Amount set asi
Also in this section
17 July 2025
Oil and gas companies will face penalties if they fail to reach the EU’s binding CO₂ injection targets for 2030, but they could also risk building underused and unprofitable CCS infrastructure
9 July 2025
Latin American country plans a cap-and-trade system and supports the scale-up of CCS as it prepares to host COP30
3 July 2025
European Commission introduces new flexibilities for member states to ease compliance with headline goal
1 July 2025
Supportive government policy, deforestation threat and economic opportunity drive forward the region’s monetisation of forest carbon
