Cities can better afford renewable energy, EV and other climate projects with new tax incentives: report Ysabelle Kempe
Federal tax credits that provide direct payments can help communities finance climate change mitigation and resilience projects that previously were out of reach due to high initial costs, according to a report the Alliance for a Sustainable Future published this month.
These newly available “direct-pay” tax credits can dramatically reduce the cost or shorten the payback period for projects such as renewable energy systems and electric vehicle fleet transitions, the report says.
The incentives are “so significant that they may warrant a re-evaluation of some previously assessed investment opportunities,” it says.
The upfront costs of climate change mitigation and resilience projects can make them financially infeasible for many local governments, the report says.
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