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Tax Credits for Energy Innovation: Supporting Clean Technologies.

This act introduces new tax credits for companies investing in innovative energy technologies, such as clean electricity generation, carbon capture, and energy storage. The goal is to accelerate the development and deployment of these technologies, potentially leading to more stable energy supplies and reduced pollution. Citizens may benefit from potentially lower energy bills and a cleaner environment.
Key points
New tax credits for investments in energy storage technologies, including batteries and pumped hydropower.
Financial support for carbon capture projects at power plants and industrial facilities, potentially improving air quality.
Tax credits for producers of clean electricity, including advanced nuclear, solar, wind, and marine energy technologies.
Incentives for clean hydrogen production, which could open new opportunities in transportation and industry.
Ability to transfer tax credits to project partners, facilitating financing for innovative energy ventures.
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Additional Information
Print number: 117_S_2475
Sponsor: Sen. Crapo, Mike [R-ID]
Process start date: 2021-07-27
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Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Energy Sector Innovation Credit Act of 2021

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_2475.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-07-27.

What are the main provisions?

Key points include:

  • New tax credits for investments in energy storage technologies, including batteries and pumped hydropower.
  • Financial support for carbon capture projects at power plants and industrial facilities, potentially improving air quality.
  • Tax credits for producers of clean electricity, including advanced nuclear, solar, wind, and marine energy technologies.
  • Incentives for clean hydrogen production, which could open new opportunities in transportation and industry.
  • Ability to transfer tax credits to project partners, facilitating financing for innovative energy ventures.
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. Crapo, Mike [R-ID].

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 2025-12-29.

CATEGORIES

Taxes Environment Economy