inflation reduction act - Tech News from Simmons Systems

Tech News from Simmons Systems

inflation reduction act

A collection of 13 posts

trump presidency

Trump Presidency Reshapes Transportation Sector as Tesla and Canoo Face Shifting Fortunes

Speculation swirls around how a new Trump administration will impact transportation and tech, particularly regarding Elon Musk's companies and EV incentives. Meanwhile, Tesla confirms a major strategic pivot toward robotaxis and Canoo faces fresh executive departures and worker furloughs.

Federal Government Distributes $3 Billion to 25 Battery Startups

The Department of Energy allocates $3 billion to 25 battery technology startups across 14 states to strengthen domestic manufacturing and reduce reliance on China.

Amidst Industry Turmoil, Climate Tech and AI Provide Reasons for Optimism

While 2022 brings major setbacks like crypto collapses and mass layoffs, significant breakthroughs in climate legislation, generative AI, and orbital internet offer a bright side.

electric vehicles

Electric Vehicle Market Poised for Major Expansion in 2023

The electric vehicle industry accelerates into 2023 with new tax incentives, a surge in U.S.-built models, and a broader range of affordable options for everyday consumers.

Clean Energy VC Investments Reach Record Highs Amid Global Energy Crisis

Venture capital funding for clean energy matches 2021 record highs as global energy crises and new US legislation drive investor interest. Wind, solar, and nuclear sectors see major financial inflows heading into 2023.

EV Maker Arrival Shifts Focus to US Market Amid New Job Cuts

Commercial EV startup Arrival is restructuring for the second time in six months, pivoting away from the UK to focus on the US market. The move brings significant global job cuts as the company aims to stretch its $330 million cash runway.

Battery Recyclers Gain Spotlight as U.S. Seeks to Cut China Reliance

New climate legislation pushes automakers to find alternative battery material sources, making battery recycling a crucial piece of the U.S. electric vehicle strategy.

New EV Tax Credit Rules Eliminate 70% of Previously Eligible Vehicles

The newly signed Inflation Reduction Act immediately restricts EV tax credits to vehicles assembled in North America, cutting out about 70% of previously eligible models. Only around 20 models from manufacturers like Ford, BMW, and Nissan currently qualify for the $7,500 credit.

inflation reduction act

Climate Tech Wins Big as Inflation Reduction Act Becomes Law

President Biden signs the Inflation Reduction Act, delivering massive tax credits to renewable energy and climate tech sectors. The landmark legislation puts the US on track to cut emissions by 40% below 2005 levels by the end of the decade.

electric vehicles

Automakers Pour $38 Billion Into US Battery Plants to Fuel EV Race

Major automakers and suppliers invest over $38 billion to build massive battery factories across the United States. New federal tax credits accelerate this onshore manufacturing boom to shorten supply chains and secure EV production.

Automakers Pour $38 Billion Into US Battery Plants to Fuel EV Shift

Automakers and suppliers invest heavily in domestic battery factories to secure EV supply chains. New federal tax credits accelerate this push to reduce reliance on foreign materials.

Iron Batteries Emerge as Cheap Alternative to Lithium for Grid Storage

Startups are turning to iron as a battery material to provide affordable, large-scale energy storage for renewable power grids. This shift aims to avoid the supply chain issues and high costs associated with lithium-ion technology.

Iron Batteries Emerge as Low-Cost Solution to Replace Natural Gas on the Grid

As renewables grow cheaper, companies like VoltStorage are pivoting to iron-based batteries to provide affordable, large-scale energy storage and break free from volatile lithium supply chains.