The administration plans to deploy federal money in former coal towns and communities losing fossil fuel jobs from two of President Joe Biden’s signature legislative packages.
The Treasury Department released guidance Tuesday detailing how clean energy producers can receive more in federal tax credits if they build climate-friendly projects in areas that were once hubs for coal and oil jobs. The Treasury is offering the credits under an August law that contained $270 billion in tax breaks for clean energy.
The Energy Department separately rolled out an initiative to spend $450 million from the 2021 bipartisan infrastructure law for clean energy-related experimental projects on land formerly used for mining. Another $16 million under that law will go to West Virginia University and the University of North Dakota to work on getting minerals needed for renewable energy products from mining waste.
