Legislation to spur clean energy innovation debuts on Capitol Hill

July 30, 2021, 7:00AMNuclear News

Approximately 40 percent of cumulative carbon dioxide emission reductions needed to meet sustainability targets rely on technologies not yet commercially deployed on a mass-market scale, according to last year’s Special Report on Clean Energy Innovation from the International Energy Agency.



Intent on lowering that percentage, both the Senate and House earlier this week introduced bipartisan legislation to rapidly scale up and diversify emerging energy technologies. On July 27, Sens. Mike Crapo (R., Idaho), ranking member of the Senate Finance Committee, and committee member Sheldon Whitehouse (D., R.I.) introduced the Energy Sector Innovation Credit (ESIC) Act, or S. 2475. The credit, according to Crapo’s office, is a technology-inclusive, flexible investment tax credit (ITC) or production tax credit (PTC) designed to promote innovation across a range of clean energy technologies, including generation, energy storage, carbon capture, and hydrogen production.

To continue reading, log in or create a free account!

Related Articles

2024: The State of Advanced Reactors

January 19, 2024, 3:07PMNuclear NewsMatt Wald

Designs for high-tech products, and the start-ups that offer them, will always outnumber the commercial successes. Ditto: many more power plants are proposed than actually get built, no matter...

2023 in Review: January–March

January 10, 2024, 9:32AMNuclear News

Another calendar year has passed. Before heading too far into 2024, let’s look back at what happened in 2023 in the nuclear community. In today's post, compiled from Nuclear News and Nuclear...

Investments for peace

December 8, 2023, 7:01AMNuclear NewsKathryn Huff

President Dwight D. Eisenhower delivered his “Atoms for Peace” speech to the United Nations General Assembly in December 1953. In this historic address, he invoked the existential threat...