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Green Energy Support: New Investment Opportunities and Tax Benefits

This act expands investment opportunities in green energy projects, such as electricity generation, energy storage, and renewable fuels, through special partnership structures. This means more companies will be able to more easily raise capital for developing environmentally friendly technologies, potentially leading to lower energy costs and increased availability in the future. These changes may also create new jobs in the green energy sector and foster the development of innovative solutions.
Key points
Extension of tax benefits to new types of green energy projects, including electricity and thermal energy production from renewable sources.
Support for energy storage technologies like batteries, compressed air, and hydrogen, which can enhance energy supply stability.
Facilitation for companies involved in the production, storage, and transportation of renewable fuels and biofuels, potentially lowering their costs.
Incentives for developing carbon capture technologies and producing fuels using captured carbon, supporting climate change mitigation.
Support for advanced nuclear facilities and the production of renewable chemicals, broadening innovation in the energy sector.
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Additional Information
Print number: 117_S_1034
Sponsor: Sen. Coons, Christopher A. [D-DE]
Process start date: 2021-03-25
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Summarized by: gemini-2.5-flash
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Financing Our Energy Future Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_1034.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-03-25.

What are the main provisions?

Key points include:

  • Extension of tax benefits to new types of green energy projects, including electricity and thermal energy production from renewable sources.
  • Support for energy storage technologies like batteries, compressed air, and hydrogen, which can enhance energy supply stability.
  • Facilitation for companies involved in the production, storage, and transportation of renewable fuels and biofuels, potentially lowering their costs.
  • Incentives for developing carbon capture technologies and producing fuels using captured carbon, supporting climate change mitigation.
  • Support for advanced nuclear facilities and the production of renewable chemicals, broadening innovation in the energy sector.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Coons, Christopher A. [D-DE].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2026-01-02.

CATEGORIES

Taxes Environment Economy