The US Inflation reduction Act tax credits were going to be cut in half starting Jan 1, 2024 if the batteries did not have materials from US and US allied countries. This will requirement to shift battery materials out of China will be delayed. The final details and timing have yet to be decided.
BIG NEWS: The Biden administration is discussing granting automakers a temporary reprieve from new rules poised to limit a consumer tax credit for EVs that contain certain materials from foreign adversaries.
Administration officials have discussed phasing in enforcement for the…
— Sawyer Merritt (@SawyerMerritt) November 29, 2023
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
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I am super happy the offshore windfarm construction projects are being canceled up and down the Atlantic coast. The green rhetoric has throttled back considerably too. Just another learning for me: things usually do work out to a logical conclusion (i.e. GND defunct), even if a heap of special interests manage to syphon off hundreds of millions planning the hundreds of billions projects, which are ultimately canceled. While electric cars are still all the hype, I began restoring a second project car so old (45 years) that it no longer requires inspection. Just like Cuba kept ’50s vehicles running through the ’90s in the face of embargos, we may see a lot of older gas cars maintained decades beyond the 2035 electrification mandates, assuming our own interests as unorganized individual motorists are not snuffed by the watermelons or ev manufactures.
I was at a fleet-wide all hands engineering meeting yesterday (150-200 heads), and we were informed that additional license extensions (to 80-years) will be sought for our nuclear units. The original builders certainly had no clue the plants would live longer than people.
Incremental (single digit %) uprates requiring hundreds of millions of dollars investments were also discussed; the inflation reduction act is still artificially buoying poor decisions all over the energy sector.
While I want cheaper EV’s, we should not be using tax payers dollars to subsidize China batteries. Fail.