Energy Sector Innovation Credit Act of 2021
Last action on Jul 27, 2021Read twice and referred to the Committee on Finance.
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Summary
The Energy Sector Innovation Credit Act of 2021 proposes new federal tax credits to encourage the development and use of pioneering clean energy technologies. It specifically targets emerging methods for generating electricity, capturing carbon emissions, storing energy, and producing clean hydrogen. By providing financial incentives for these newer technologies, the bill aims to accelerate their entry into the commercial market, potentially leading to a more diverse energy grid and lower long-term costs for consumers as these innovations become more efficient.
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