Latest news with #InflationReductionAct
The Verge
4 hours ago
- Politics
- The Verge
Watchdog tells Republicans to drop environmental rollbacks from their ‘big, beautiful bill.'
The Senate parliamentarian — a nonpartisan congressional advisor — says Republicans are violating a budget reconciliation rule in their attempt to fast-track some parts of President Trump's agenda. That includes measures to undo Biden-era tailpipe pollution standards and repeal funding authorizations for climate programs under the Inflation Reduction Act. Republicans have been getting creative lately, however, with ways to get around the parliamentarian's objections.
CNBC
4 hours ago
- Automotive
- CNBC
House, Senate tax bills both end many clean energy credits: 'It's just a question of timeline,' expert says
Legislation that Republicans are trying to pass by the Fourth of July would end a slew of popular consumer tax breaks tied to clean energy, leading some experts to call on households to act now to collect the savings. Many tax breaks on the chopping block were created, extended or enhanced by the Inflation Reduction Act, a 2022 law signed by former President Joe Biden that provided a historic U.S. investment to fight climate change. More from Personal Finance:3 student loan changes in GOP megabillNot all vehicles may qualify for tax break on car loan interestSenate version of 'big beautiful' bill calls for $6,000 senior 'bonus' The Senate may vote on its measure, part of a broader package of domestic policy initiatives, as soon as next week. The House passed its version of the One Big Beautiful Bill Act in May. Both bills would eliminate tax credits for households that buy or lease electric vehicles, or that make their homes more energy efficient. "The intention of Republicans writing the bill is to root out all of the incentives from moving away from fossil fuels that the Biden administration puts in place, and it's just a question of timeline," said Matt Gardner, senior fellow at the Institute on Taxation and Economic Policy. Republicans would use money from the clean energy tax breaks — as well as cuts to food assistance and healthcare programs like Medicaid — to help pay for a broader multitrillion-dollar package of tax cuts for households and businesses, among other policy priorities. The "One Big Beautiful Bill Act," which House Republicans passed in May, would end a tax credit of up to $7,500 for qualifying households that buy a new electric vehicle and a $4,000 credit for those who buy a used EV. It would also end a separate tax incentive that allowed car dealers to pass along a $7,500 credit to consumers who lease an electric vehicle. Additionally, the House bill would end the energy efficient home improvement credit (also known as the 25C credit) and residential clean energy credit (the 25D credit), which help consumers defray the cost of projects like installing insulation, solar panels, heat pumps, and installing energy-efficient windows and doors. With few exceptions, these tax breaks would disappear in 2026, about seven years earlier than under current law, which makes them available through 2032. Senate Republicans, who haven't yet passed their version of the legislation, would end these tax breaks under a similar timeline. For example, the tax credit for used EVs would end 90 days after the law's enactment. The credits for new and leased EVs, as well as the ones tied to energy efficiency, would disappear after 180 days. Advocates for preserving the tax credits argue that getting rid of the tax breaks would raise monthly bills for U.S. households and businesses. A group of 21 House GOP lawmakers in March expressed support for preserving clean energy tax credits, in a letter to Rep. Jason Smith, R-MO, chairman of the House Ways and Means tax-writing committee. "As our conference works to make energy prices more affordable, tax reforms that would raise energy costs for hard working Americans would be contrary to this goal," they wrote. Consumers who want to ensure they get a federal tax break for buying an EV or undergoing an energy-efficiency home project should act soon, according to experts. "Based on the existing proposed language, if you've been considering an EV or planning to get one, now is the time to do it," Alexia Melendez Martineau, senior policy manager at Plug In America, told CNBC recently. The legislation may change in the Senate, which may vote on the massive domestic policy measure as soon as next week. If there are changes, the House would have to pass the legislation before sending it to President Trump's desk.
Globe and Mail
6 hours ago
- Business
- Globe and Mail
Can Vistra Benefit From the Clean Energy Transition & Net-Zero Goal?
Vistra Corp. VST is strategically positioned to benefit from the ongoing clean energy transition, leveraging its diversified generation portfolio and planned investments in zero-carbon resources. The company is accelerating the expansion of its renewables and energy storage projects under its Vistra Zero initiative, with a goal of achieving net-zero emissions by 2050. Vistra is actively replacing its aging fossil-fuel fleet with low-emission, long-duration assets that align with the U.S. clean energy trajectory. This proactive transition not only reduces long-term compliance risks but also positions Vistra to capture growth from new market opportunities and incentives under legislation like the Inflation Reduction Act. Vistra has retired more than 15,100 megawatts (MW) of fossil fuel-based generation since 2010 and aims to lower further by 20,000 MW by 2027. VST has brought online 7,922 MW of zero-carbon generation since 2018 and more clean projects are under development. Vistra's growth investments through 2026 are heavily focused on solar and battery developments, while also repowering select gas assets to enhance efficiency. This shift not only improves its emissions profile but also creates a more resilient earnings stream, less exposed to fuel price volatility and regulatory risk. Over the long term, Vistra's shift toward clean energy enhances both its earnings capacity and valuation potential. As demand for low-emission and reliable power rises, driven by electrification, environmental regulations and corporate decarbonization, Vistra's diversified and strategically located asset base will play a key role in the energy transition. Other Utilities Are Also Aiming for Net-Zero Emissions A transition is evident, with utilities aiming for net-zero emissions in electricity generation. Public Service Enterprise Group PEG is aiming for net-zero by 2030 and Dominion Energy D targets net-zero carbon emissions from its electric generation by 2050. Public Service Enterprise is enhancing its renewable generation portfolio. PEG has also been taking initiatives to reduce carbon emissions to reap the benefits of the expanding clean energy market. Dominion Energy intends to make zero and low-emitting resources accountable for 99% of its electric generation by 2035. The company owns four nuclear power stations, which generate nearly 40% of its total production. Positive Movement in VST's Earnings Estimate The Zacks Consensus Estimate for Vistra's 2025 and 2026 earnings per share indicates an increase of 2.47% and 3.36%, respectively, in the past 60 days. Vistra Stock Trading at a Premium Vistra is currently trading at a premium valuation compared with the industry, with its forward 12-month price-to-earnings ratio of 25.91X. The industry is currently trading at 15.06X. VST's Price Performance Shares of Vistra have rallied 38.7% in the past three months compared with the Zacks Utility- Electric Power industry's growth of 1.2%, courtesy of its strong retail and commercial operations. VST's Zacks Rank Vistra currently has a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here Zacks Names #1 Semiconductor Stock It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom. With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028. See This Stock Now for Free >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Public Service Enterprise Group Incorporated (PEG): Free Stock Analysis Report Dominion Energy Inc. (D): Free Stock Analysis Report Vistra Corp. (VST): Free Stock Analysis Report
New York Times
6 hours ago
- Politics
- New York Times
Repeal of Clean Energy Law Will Mean a Hotter Planet, Scientists Warn
When President Joseph R. Biden Jr. signed the 2022 Inflation Reduction Act, he called it 'the most aggressive action ever, ever, ever to confront the climate crisis.' Now, Republicans are poised to undo the law, and scientists are warning the result would increase the likelihood that the Earth will heat up by an average of 3 degrees Celsius above preindustrial levels by the end of this century. 'We're already in an era now where climate change is going to be increasingly dangerous,' said Jonathan T. Overpeck, a climate scientist and the dean of the University of Michigan's School for Environment and Sustainability. That amount of warming — 3 degrees Celsius (5.4 degrees Fahrenheit) over the course of a century — may sound small. But 2024, the hottest year on record, was the first calendar year where the global average temperature exceeded 1.5 degrees Celsius above preindustrial levels, and it delivered deadly heat, violent hurricanes, severe drought and devastating wildfires. The Biden administration's strategy to fight climate change consisted of tax breaks to nudge the country toward clean energy and away from fossil fuels, the burning of which is heating the planet, paired with strict limits on pollution from smokestacks and tailpipes. That would have put the United States on track to cut emissions about 40 percent below 2005 levels by 2035, closer to the goal that scientists say all industrialized nations must meet in order to keep global warming within relatively safe limits. The United States is currently the second biggest emitter of greenhouse gases, behind China. But it is the country that has pumped the most carbon dioxide and other greenhouse gases into the atmosphere since the Industrial Revolution. Want all of The Times? Subscribe.
Yahoo
7 hours ago
- Business
- Yahoo
North American Air Circuit Breaker Market worth $1.08 billion by 2030
DELRAY BEACH, Fla., June 20, 2025 /PRNewswire/ -- The North American Air Circuit Breaker Market is anticipated to grow from estimated USD 0.82 billion in 2025 to USD 1.08 billion by 2030, at a CAGR of 5.7% during the forecast period. The North American Air Circuit Breaker (ACB) Market is likely to continue experiencing steady growth up to 2030, driven by growing investments in grid modernization, industrial automation, and renewable energy infrastructure in the United States and Canada. With aging legacy electrical systems and the growing need for uninterrupted power supply, utilities, commercial buildings, and industrial plants are turning toward ACBs due to their reliability, superior breaking capacity, and simplicity of integration with smart monitoring systems. Federal investment programs such as the IIJA (Infrastructure Investment and Jobs Act) and the Inflation Reduction Act are directing significant investment toward developing substations, transmission infrastructure, and power distribution systems. ACBs have an essential function in protection and load control. Besides that, the growth in renewable energy installations, electric vehicle charging points, and data centers has increased demand for high-endurance, flexible switchgear that can handle load fluctuations and grid complexity, further supporting the demand for air circuit breakers. Technological improvements in arc flash protection, remote diagnostics, and modular designs improve ACB applicability in today's power infrastructure. As the North American continent moves toward a digital, resilient, and sustainable grid power infrastructure, there are enormous opportunities for ACB manufacturers to address transforming utility, commercial, and industrial needs with next-generation technologies. Browse in-depth TOC on "North American Air Circuit Breaker Market" 100 - Tables50 - Figures200 – Pages Download PDF Brochure: By type, air blast circuit breakers are expected to hold larger market share throughout forecast period The air blast circuit breaker segment is expected to capture a significant share of the North American Air Circuit Breaker Market during the forecast period because of its better performance traits and applicability in medium-voltage and high-demand applications. Air blast circuit breakers utilize compressed high-pressure air to rapidly and effectively extinguish arcs, and as such, are suited for applications that demand the high-speed interruption of fault currents, such as power plants, industrial substations, and extensive business complexes. Their high-speed performance capability to manage frequent operations and guarantee greater electrical safety ranks them higher than simple air circuit breakers in mission-critical applications. In addition, air blast breakers generally represent lower maintenance requirements and longer life cycles, which add to their attractiveness for utility and industrial customers looking for long-term dependability and operational efficiency. As North America continues replacing aging infrastructure and incorporating renewable energy and distributed generation, demand for high-performance, arc-resistant switching technologies such as air blast circuit breakers is anticipated to grow steadily. By voltage, low voltage segment to account for majority of market share throughout forecast period. The low-voltage segment is anticipated to hold a larger market share of the North American Air Circuit Breaker Market during the forecast period, owing to its extensive usage in industrial, commercial, and infrastructure sectors. Low-voltage air circuit breakers, rated below 1 kV, play a vital role in the protection of electrical circuits in industrial plants, commercial facilities, data centers, hospitals, and institutional building environments where electrical security, equipment protection, and continuity of power are paramount. They are preferred due to their simplicity of installation, economic implications, and compatibility with intelligent monitoring systems and are, therefore, appropriate for contemporary energy management approaches. Also, contributing to the growth is the relentless growth of data centers, fast-paced commercial growth, and the upgrading of electrical infrastructure in cities throughout the US and Canada. As the focus on energy efficiency, automation, and smart grid compatibility intensifies, the low-voltage ACB segment is poised to continue leading the market. US to lead North American market during forecast period During the forecast period, the US is expected to dominate the North American Air Circuit Breaker Market due to massive infrastructure upgrades, increasing industrial automation, and robust policy support for clean energy integration and grid reliability. As the American government launches projects under the Infrastructure Investment and Jobs Act (IIJA) and the Inflation Reduction Act (IRA), considerable investments are going into modernizing substations, replacing old switchgear, and making power distribution networks more resilient. The nation's strong industrial sector, increasing data center count, and increasing use of clean energy sources such as wind and solar have increased the need for smart air circuit breakers to manage power safely and efficiently. Moreover, the mandatory safety measures and energy efficiency standards imposed by organizations such as the US Department of Energy (DOE) are speeding up the integration of smart, low-maintenance ACBs for digital monitoring. Based on a well-developed electrical infrastructure and aggressive efforts in energy transition, the US will lead the region's market in terms of volume and value. Key Players Some prominent players in the North American Air Circuit Breaker Market are ABB Ltd. (Switzerland), Schneider Electric (France), Mitsubishi Electric Corporation (Japan), Eaton (Ireland), and Siemens AG (Germany). These players aggressively invest in product innovation, regional production expansion, and strategic acquisitions to meet the region's increasing demand for sophisticated circuit protection systems. As North America's electrical infrastructure undergoes digitalization, decarbonization, and decentralization efforts, these companies target intelligent air circuit breakers with IoT-based monitoring, arc flash protection, and remote diagnostic capabilities. The focus is on providing compact, cybersecure, and easy-to-maintain ACBs capable of facilitating renewable energy integration, critical infrastructure, and high-density urban developments. Partnerships with utilities, electric contractors, and grid operators form the core of their plans, particularly in aligning the design of products with changing safety codes such as UL, IEEE, and NEC standards. In addition, further investment in domestic manufacturing and R&D facilities in the US and Canada makes it possible to achieve quicker delivery cycles, customized product configurations, and compliance with federal infrastructure programs, cementing these companies' leadership roles in industrial, commercial, and utility markets. Request Sample Pages: ABB (Switzerland) ABB (Switzerland) is a global technology leader in electrification and automation that offers a complete line of low- and medium-voltage air circuit breakers across North America for industrial, utility, and infrastructure purposes. Its Emax and Tmax ACBs are widely used across mission-critical environments and enable intelligent protection, load management, and energy monitoring capabilities in all applications. ABB understands and embraces digital power management, as its ACBs integrate with digital solutions inherently, and its ACBs also feature communication protocols such as Modbus and Ethernet, which allow for rapid adoption of Industry 4.0. Aside from established channels, ABB invests heavily in emerging technologies such as predictive diagnostics, arc flash protection technologies, and compact modular designs that minimize space and keep workers safe working in data centers, commercial buildings, and industrial plants. ABB is increasingly embracing sustainability through its EcoSolutions product line, which includes air circuit breakers manufactured with recycled materials and a reduced CO2 footprint. In North America, ABB persists in developing its service and distribution network and working with EPCs, OEMs, and utilities on modernization and electrification initiatives under federal energy programs. Schneider Electric (France) Schneider Electric (France) is one of the key manufacturers in the North American ACB market. It supports market evolution with advanced and digitally connected solutions through its MasterPact and ComPact ACB brands. Schneider Electric embedded advanced digital trip units into its air circuit breakers (ACBs) to provide smart capabilities, such as real-time data acquisition, fault diagnostics, and remote operation, to better protect its customers' industrial and commercial facilities. Schneider Electric met the stressed energy management, operational safety, and regulatory compliance demands of the electricity grid and corporate responsibility for safety, decarbonization, and net-zero transitions of power-critical spaces in healthcare, manufacturing, and data center markets. Its EcoStruxure platform connects ACBs to cloud-based analytics that assess energy demands to assist with load optimization, condition monitoring, and predictive maintenance solutions. Schneider Electric in North America is increasing its manufacturing footprint and investing in partnerships with local utilities, contractors, and systems integrators to provide market access and knowledge on innovative infrastructure development. While investing in social impact initiatives, Schneider Electric is committed to decarbonization and resiliency by developing energy-efficient and low-GWP ACB systems that align with education on developing green building codes and net-zero environmental targets. For more information, Inquire Now! Related Reports: Switchgear Market Circuit Breaker Market AC Circuit Breaker Market Get access to the latest updates on North American Air Circuit Breaker Companies and North American Air Circuit Breaker Industry About MarketsandMarkets™: MarketsandMarkets™ has been recognized as one of America's Best Management Consulting Firms by Forbes, as per their recent report. 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