A Billionaire From Clean Energy, Musk Vs Fisker And How To Get Sustainability Tax Breaks
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In pictures via Getty Images
Aunder the regulations of the Inflation Reduction Act are tax breaks in the tens of billions for ordinary citizens. Most of what’s garnering attention is the new electric vehicle tax credit, but there are more ways to save on your Uncle Sam bill while also reducing energy bills in your home. My colleague Jonathan Ponciano shares some of the highlights that you can take advantage of. For example, there is an unlimited 30% tax credit for solar power. This also applies to installing geothermal heating in your home. Even minor household items like weatherproof doors and windows come with significant tax credits, as do upgrading appliances like water heaters to heat pumps or improving electrical wiring. Check out the full list of available tax breaks and credits.
The Great Reading
GUERIN BLASK FOR FORBES
A billionaire’s plan to bring solar power to every homeowner
Hayes Barnard figured out how to make expensive green energy affordable — and it made him one of the richest people in America.
Read more here.
discoveries and innovations
As much as the entire population of Brazil, China, Egypt, Ethiopia and Ghana will be exposed heavy dry season Last more than a year over a 30-year period if global temperature rises by 3 degrees Celsius, according to a new study.
The environmental cost of production Bitcoin ranks the digital asset alongside some of the world’s most polluting industries, according to a new study published in Scientific Reports.
Sustainability deals of the week
Renewable energy: Brookfield Renewable announced it will acquire Scout Clean Energy, which currently has 1,200 MW of wind assets, for $1 billion. It also completes the acquisition of Standard Solar for $540 million.
Palm oil alternative: Chemicals company Kao Corporation has joined Unilever and sustainable materials company Geno in a joint venture valued at over $120 million that aims to scale and commercialize an alternative to palm oil that can be produced and distributed more sustainably.
At the horizon
Connect forbes on November 10, 2022 at 2pm ET for our virtual session Next Gen +1: Intelligent systems and the future of the automobilewhere we gathered leading experts from the automotive industry to discuss the cutting-edge advances and complexities at the intersection of technology and sustainability.
What else we’re reading this week
Americans have always bought too many cars. Now they do it with electric vehicles (Bloomberg)
Melting sea ice is acidifying the Arctic Ocean (Popular Science)
Vultures prevent tens of millions of tons of carbon emissions each year (Scientific American)
Green transport update
General Motors
SShortly after the announcement The intention to buy up to 175,000 electric vehicles over five years from General Motors rental car giant Hertz is a big step towards completing the other half of the EV equation — and keeping the growing fleet charged. Hertz and BP Pulse, formerly Amply Power, plan to deploy a nationwide network of charging stations at Hertz locations across North America.
The great history of transport
NTB/AFP VIA GETTY IMAGES
Elon Musk is reviving Tesla’s old spat with EV rival Henrik Fisker
The richest person in the world has had great success with Tesla in recent years, but Elon Musk has also held grudges for a very, very long time. The cranky billionaire this week reignited a dispute with Fisker Inc. founder Henrik Fisker, referencing in a tweet a 15-year lawsuit Musk had filed against the famous car designer for breach of contract. Musk lost that case, and Fisker is close to starting production of its electric SUV in November.
Read more here.
More green transport news
Elon Musk: The richest person in America 2022
Citroen Oli Concept EV radically rethinks family SUVs – with cardboard
In numbers: The cheapest and most expensive electric cars to be insured
Dragonfly Hyperscooter Reboots After Overcoming Business And Covid Obstacles
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