article thumbnail

After Pandemic, New York’s Buildings Face Daunting Decarbonization Mandate

GreenTechMedia

Saturday marked the one-year anniversary of the passage of perhaps the most ambitious law ever adopted by a U.S. Local Law 97, one of 10 bills in the sweeping Climate Mobilization Act , requires New York City’s 50,000 largest buildings to reduce their carbon emissions by 40 percent by 2030 and by 80 percent by 2050.

Law 130
article thumbnail

Tax Credits for Renewables Get Another Shot in Congress

GreenTechMedia

More traditional energy players such as the American Public Power Association, which represents nonprofit, community-owned utilities, and the National Hydropower Association also threw their weight behind the draft. If extensions do pass, it would likely be part of a larger tax package that cherry-picks only the most anodyne measures.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Solar, Wind Tax Credit Extensions and Energy R&D Package in Spending Bill Before Congress

GreenTechMedia

trillion federal spending and tax extension package negotiated by congressional leaders over the weekend alongside a $900 billion coronavirus relief package. Absent any future changes in law, the PTC will be reduced to zero starting in 2022. These clean energy provisions are included in a $1.4 Action by the U.S.

Packaging 130
article thumbnail

How 4 Top US Utilities Are Grappling With the Energy Transition (or Not)

GreenTechMedia

Dominion’s generation portfolio for Virginia is roughly one-third natural gas, one-third nuclear, and one-quarter coal, with just over 5 percent ascribed to renewable energy, much of it hydropower and biomass.

article thumbnail

Inflation Reduction Act: 10 ways it will turbocharge US climate action (and one way it won't)

Business Green

Barring any late Congressional dramas, President Joe Biden could sign the Inflation Reduction Act (IRA) into law before the week is out, triggering a multi-billion dollar green investment bonanza that promises to drastically accelerate US emissions reduction efforts. Overall, the Act sets out $60bn for environmental justice priorities.