Proposed Senate spending package would boost clean-tech companies and could make nascent technologies, like green hydrogen and carbon capture, viable
Renewable-energy companies like First Solar, in Perrysburg, Ohio, where a worker built solar-panel frames, got a welcome boost from the proposed Senate energy package. Photo: MEGAN JELINGER/REUTERS
Investors were already returning to clean-tech and renewable-power stocks when the proposed $369 billion Senate energy and climate-spending package jolted the sector to its best week in 18 months.
Private investors who continued to pour cash into speculative industries like green hydrogen and carbon capture during the stock-market downturn earlier in the year would be among the biggest beneficiaries of tax subsidies that are part of the bill. Renewable energy and battery producers would get the certainty of tax credits that would last for a decade, which they say will encourage investment.
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