Tax burden on power storage projects

How much does a power plant cost in 2023?

In 2023, the going rate for the PTC was $27.50 per megawatt-hour. The section 48E investment tax credit reimburses a percentage—typically 30 percent—of the up-front investment cost of a power plant that produces clean electricity or an electricity storage facility, such as a battery or pumped storage hydroelectric facility.

How much will energy subsidies cost the IRA?

Using a transparent budget scoring methodology, we estimate that the energy subsidies in the act will cost between $936 billion and $1.97 trillion over the next 10 years, and between $2.04 trillion and $4.67 trillion by 2050. This estimate is substantial because several of the IRA’s largest subsidies are uncapped. Unknown catalog request error.

How much is the SCC per ton?

The SCC that was estimated by the EPA during President Barack Obama’s administration was about $50 per ton, and the EPA’s most recently proposed SCC is $190 per ton of CO2, both of which were estimated using a global scope.