Interest is booming in new provisions created under Democrats’ climate law to expand clean energy into new communities that historically have not been able to utilize tax incentives, according to updated data released by the Treasury Department on Tuesday.
The new data provided just a glimpse into overall interest into the Inflation Reduction Act‘s sprawling clean energy tax incentives, as Republicans on the Hill criticize the law’s increasing price tag and as former President Donald Trump pledges to undo the green incentives if elected.
Treasury said Tuesday that about 500 entities have registered with the department to potentially utilize new transferability and direct-pay provisions under the law for more than 45,500 projects or facilities — underscoring the growing interest in the law that is reshaping financing structures for U.S. clean energy projects.
The overall figures represent a jump from January when Treasury said 145 entities had sought registration numbers for more than 1,290 projects or facilities located in 40 states and territories.
