Saturday, November 26, 2022

Play

An investigative probe into how rules written for distressed rust belt property may benefit a select few; Small Business Saturday highlights local Economies; FL nonprofit helps offset the high cost of insulin.

Play

A Supreme Court case could have broad implications for the future of U.S. elections, results show voters rejected election deniers in many statewide races, and the concession phone call may be a thing of the past.

Play

A water war in Southwest Utah has ranchers and Native tribes concerned, federal solar subsidies could help communities transition to renewable energy, and Starbucks workers attempt to unionize.

Tennessee Rural Electric Co-ops to Benefit from Inflation Reduction Act

Play

Friday, September 16, 2022   

The Inflation Reduction Act has made a historic investment of $370 billion dollars to fight climate change over the next decade.

Among its benefits, the act will provide tax credits for Rural Electric Cooperatives to move toward clean energy.

Brianna Knisley is Tennessee campaign manager for Appalachian Voices - a founding member of the Rural Power Coalition.

She said the act significantly changes the economic landscape for Tennessee public utilities or not-for-profit utilities, to implement renewable energy and energy efficiency.

"There are some new pots of funding for electric cooperatives to transition," said Knisley. "And then also, the direct pay tax credit for renewable energy has been extended to nonprofit entities, which means co-ops and municipal utilities can now access that tax credit."

Meanwhile, Knisley noted that access to tax credits may be limited because of barriers that the Tennessee Valley Authority has put in place.

TVA produces all electricity in the state.

She added that utilities that distribute power - which includes the electric co-ops - are in long-term or never-ending contracts with TVA and those contracts limit how much solar energy they can generate themselves.

Knigley noted that there are key provisions in the Inflation Reduction Act that would benefit co-ops.

She said the provision of $9.7 billion of U.S. Department of Agriculture Assistance for Electric Cooperatives is going to co-ops that can achieve the greatest greenhouse-gas emission reductions.

She said a second provision will benefit co-ops in Tennessee.

"Now, the next item," said Knisley, "the $1 billion in additional funding to cover the cost of loans related to renewable energy, that program, I think, is one that co-ops and Tennessee could take advantage of and are hopefully going to be really interested in because up to 50% of the cost of those loans can be forgiven."

Meanwhile, she said the electric cooperatives have recently warned customers that they may receive higher energy bills soon.

She noted the higher prices are a result of a fuel cost adjustment from the TVA. The increase is primarily because of natural gas prices.




get more stories like this via email
During open enrollment for 2022 coverage, Georgia saw a record number of individuals, more than 700,000, sign up for health insurance. (Rawpixel.com/Adobe Stock)

Health and Wellness

Open enrollment for health insurance through the Affordable Care Act is already underway, and ends on Jan. 15. More than 1.3 million Georgians do …


Social Issues

Holiday shoppers this week have no shortage of options with Small Business Saturday being observed on Nov. 26. Sandwiched between Black Friday and …

Health and Wellness

The American Heart Association has developed a series of videos to educate women about heart disease. The Red Chair Series is a four-episode series …


Chris Powers stands in front of the Land Bank lot that he tried to bid on in Southern Ohio. (Eye on Ohio)

Social Issues

By Lucia Walinchus for Eye on Ohio.Broadcast version by Nadia Ramlagan for Ohio News Connection Collaboration reporting for the Ohio Center for Invest…

Social Issues

While many Iowa families gather through this weekend to celebrate Thanksgiving in traditional ways with food and family, thousands of people take to …

The EPA claims that the EES Coke Battery plant has emitted thousands of tons of sulfur dioxide annually beyond its permitted limit of 2,100 tons. (Wikipedia)

Environment

Members of a Detroit-area community are intervening in an Environmental Protection Agency lawsuit against a DTE Energy subsidiary charged with dumping…

Health and Wellness

A bill headed to President Joe Biden's desk addresses a long-standing problem for domestic violence survivors, ending their ties to their abusers' …

Environment

Oregon is home to a plethora of rivers, but those waterways are not always accessible to every community. A new video series highlights how …

 

Phone: 303.448.9105 Toll Free: 888.891.9416 Fax: 208.247.1830 Your trusted member- and audience-supported news source since 1996 Copyright 2021