A Billionaire From Clean Energy, Musk Vs Fisker And How To Get Sustainability Tax Breaks

This week’s Current Climate, which every Saturday brings you the latest news about the business of sustainability. Sign up to get it in your inbox every week.

Among the provisions of the Inflation Reduction Act are tens of billions in tax breaks for ordinary citizens. Most of what’s gotten attention are the new tax credits for electric vehicles, but there’s even more ways to save on your bill to Uncle Sam while reducing energy costs in your home at the same time. My colleague Jonathan Ponciano breaks down some of the highlights that you can take advantage of. Solar power, for example, comes with an uncapped 30% tax credit. So does installing geothermal heating in your home. Even smaller home items like weatherizing doors and windows come with some significant tax credits, as does upgrading equipment like water heaters to heat pump or improving electrical wiring. Check out the full list of tax breaks and credits available.

The Big Read

Inside One Billionaire’s Plan To Bring Solar Power To Every Homeowner

Hayes Barnard figured out how to make costly green energy affordable—and it has made him one of the richest people in America.

Read more here.

Discoveries And Innovations

As much as the entire population in Brazil, China, Egypt, Ethiopia and Ghana will be exposed to a severe drought lasting more than a year over a 30-year period if global temperatures rise by 3 degrees Celsius, according to a new study.

The environmental cost of producing bitcoin places the digital asset alongside some of the world’s most environmentally unfriendly industries, according to a new study published in Scientific Reports.

Sustainability Deals Of The Week

Renewable Energy: Brookfield Renewable announced that it will be acquiring Scout Clean Energy, which currently has 1,200 MW of operating wind assets, for $1 billion. It’s also closing its acquisition of Standard Solar for $540 million.

Palm Oil Alternative: Chemical company Kao Corporation has joined a $120+ million joint venture with Unilever and sustainable materials company Geno that’s aimed at scaling and commercializing an alternative to palm oil that can be more sustainably produced and distributed.

On The Horizon

Join Forbes on November 10, 2022 at 2pm ET for our virtual session Next Gen +1: Intelligent Systems And The Future Of Automotive, where we’ve gathered leading auto industry experts to discuss the most cutting-edge advancements and complexities at the intersection of technology and sustainability.

What Else We’re Reading This Week

Americans Have Always Bought Too Much Car. Now They’re Doing It With EVs (Bloomberg)

Melting sea ice is acidifying the Arctic Ocean (Popular Science)

Vultures Prevent Tens of Millions of Metric Tons of Carbon Emissions Each Year (Scientific American)

Green Transportation Update

Shortly after announcing its intention to buy up to 175,000 electric vehicles over five years from General Motors rental car giant Hertz to a big step to complete the other half of the EV equation—keeping its growing fleet charged. Hertz and BP Pulse, formerly Amply Power, plan to develop a national network of charging stations at Hertz locations across North America.

The Big Transportation Story

Elon Musk Revives Tesla’s Old Spat With EV Rival Henrik Fisker

The world’s wealthiest person has had great success with Tesla is recent years, but Elon Musk also holds grudges a very, very long time. The mercurial billionaire revived a spat this week with Fisker Inc. founder Henrik Fisker, referencing a 15-year-old suit Musk filed against the famous car designer over breach of contract in a Tweet. Musk lost that case and Fisker is about to start production of its electric SUV in November.

Read more here.

More Green Transportation News

Elon Musk: The Richest Person In America 2022

Citroen Oli Concept EV Radically Rethinks Family SUVs – With Cardboard

By The Numbers: The Cheapest And Costliest Electric Cars To Insure

Dragonfly Hyperscooter Relaunches After Beating Business, Covid Obstacles

For More Sustainability Coverage, Click Here.

Source: https://www.forbes.com/sites/alanohnsman/2022/10/01/a-billionaire-from-clean-energy-musk-vs-fisker-and-how-to-get-sustainability-tax-breaks/