As the annual GreenBiz publication, ‘ State of Green Business 2023 ’, rolls off the presses, one thing is clear: U.S. President Joe Biden’s Inflation Reduction Act (IRA) will have a big influence on environmental business trends this year. When the IRA was signed into law in August 2022, not everyone was sure whom it would benefit. Businesses are figuring it out. Many environmental sectors are taking advantage of the loans and tax breaks the Act makes available and using the money to investigate both new and existing technologies. Carbon Capture Take carbon capture for example. Carbon capture is everywhere these days. It has gone from 0 to 100 in the last year or so, says Leah Garden in the State of Green Business 2023 report, “Carbon technology captures billions in funds.” Yet, carbon tech and capture has been around for about 50 years. The process of capturing carbon dioxide emissions from industrial facilities and reusing or storing them, instead of releasing them into the atmosphere, “was long considered too expensive and inefficient to be a viable climate solution,” writes Garden. “Now it’s the tech sector to watch.” Why? Primarily, thanks to the IRA. According to Garden’s sources, the […]
Click here to view original web page at www.wolterskluwer.com
