White House Announces Coal-Related Clean Energy Initiatives

In a White House statement, it was announced that new steps will be taken to support energy communities and reduce dependence on competitors such as China.

Emphasizing that these steps will strengthen American supply chains and encourage new investment to help coal, oil, and gas workers benefit from the new clean energy economy, the statement provided insight into initiatives to come.

The statement recalled that hundreds of millions of dollars will be allocated to support coal communities, including $450 million for clean energy projects in current and former mining areas.

The US Department of Energy will also provide $16 million to the universities of North Dakota and West Virginia to complete design work for a national refinery that will extract rare earths and other critical minerals from coal ash, acid drainage from mines and other mine tailings. It was also emphasized that 11 federal agencies are working together to bring new resources to their communities.

In the statement from the US Treasury Department, it was reported that the guide, which includes incentives to direct investments to coal communities, was published together with the Internal Revenue Service (IRS).

The statement also specified details of tax incentives for investment and production in the field of clean energy projects, opportunities that energy communities can benefit from. (AA)