article thumbnail

Renewable energy trends and developments powering a cleaner future

IBM Business Partners

In a warming world, the transition from fossil fuels to renewable energy is heating up. Global capacity for renewable power generation is expanding more quickly than at any time in the last thirty years, according to the International Energy Agency (IEA).

Energy 76
article thumbnail

Continued Policy Support will be Critical as Electric Vehicle Sales Reach New Milestone in the US

Frost & Sullivan

This has taken the form of a raft of tax credits, subsidies and incentives aimed at encouraging EV adoption. The tax credit for business owners is marginally higher with a maximum credit of up to $40,000. Moreover, the government offers a tax credit of 30% or up to a maximum of $1,000 towards installing a home EV charger.

Credit 52
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Fuel Cell Trucks Market Gains Momentum as Auto Industry Embraces a Hydrogen Economy Transition

Frost & Sullivan

The global fuel cell trucks market is estimated to register 142,858 unit sales by 2030 , with China accounting for 63.9% Regional governments and energy departments are encouraging fuel cell truck adoption through incentives, tax credits and funding. of total global sales. They also are availing demonstration project scenarios.

Credit 97
article thumbnail

The Competition Heats Up as VinFast Intensifies Push into US Electric Vehicle Market

Frost & Sullivan

In a bid to transition to a clean energy economy, we have seen a slew of policy measures being introduced in recent years, including the Clean Energy for America Act, the Build Back Better Act, and the US infrastructure plan. The focus is also on start-ups like Lucid, Rivian, Proterra, and Canoo.

Energy 52
article thumbnail

Investment Trends in Decarbonization

Frost & Sullivan

C requires a reduction of CO2 emissions by 45% from 2010 levels by 2030. [3] Countries worldwide are investing in renewable energy to reduce their dependence on fossil fuels and mitigate climate change. The mega-plant will integrate up to 4GW of solar and wind energy to produce up to 1.2 million tonnes per year by 2045.

Energy 52
article thumbnail

Carbon Markets: Tech and Nature-Based Solutions Will be Critical to the Climate Transition

Frost & Sullivan

The 6P Framework for the Future of the Sustainability and Circular Economy – More with Less Policies: The Beginning of Carbon Markets In 2015, the United Nations’ Sustainable Development Goals (SDGs) brought the international community together and laid out a series of objectives to be achieved by 2030.

Credit 52
article thumbnail

The Inflation Reduction Act (IRA) and its Impact on the Chemical Industry

Frost & Sullivan

The IRA will be in effect from January 2023 to December 2032, with the goal of improving energy security, reducing emissions by 40% below 2005 levels, reducing the national deficit, lowering household medication costs, and lowering inflation. Some additional guidelines are also intended to drive adoption and production.

Energy 52