Leaders.com
  • Login
  • Subscribe
  • Business
  • Leadership
  • Wealth
  • Master Classes
  • Business
    • Entrepreneurs
    • Executives
    • Marketing and Sales
    • Social Media
    • Innovation
    • Women in Business
  • Leadership
    • Personal Growth
    • Company Culture
    • Public Speaking
    • Productivity
    • Hiring
    • Social Issues
    • Leaders
  • Wealth
    • Investing
    • Cryptocurrency
    • Retirement
    • Venture Capital
    • Loans and Borrowing
    • Taxes
    • Markets
    • Real Estate
  • Master Classes
  • Login
  • Subscribe
Business

(Photo by Julian Stratenschulte/picture alliance via Getty Images)

By Hannah Bryan Leaders Staff

Hannah Bryan

Hannah Bryan

News Writer

Hannah Bryan is a news writer for Leaders Media. Most recently she was a reporter for the Sanilac County News...

Full bio


Learn about our editorial policy

Aug 8, 2022

What the New Climate Bill Means for Business

The U.S. Senate approved a climate bill yesterday that will significantly help certain business sectors. 

The bill, if passed by the House and signed by President Joe Biden, is wide-ranging—on energy, climate, taxes, health care, and more. Approximately $370 billion in funding will go toward clean energy. And companies in this sector will likely benefit from it.

The bill that passed with the tie-breaking vote of Vice President Kamala Harris contains benefits for electric-vehicle (EV) makers, solar and renewable energy providers, and oil companies.

There is a $7,500 tax credit that will benefit EV manufacturers such as Tesla, General Motors, Ford Motor, and Toyota. 

The bill will provide tax credits that will mean homeowners could be reimbursed up to 30% of the cost of installing a rooftop solar system. On average, rooftop solar systems cost $20,000, according to Solar Energy Industries Association.

Solar energy companies like Sunrun Inc., First Solar, and Momentum Solar could also benefit from the new bill. The stock of solar maker First Solar popped more than 7% today on the news. 

Energy storage provider Stem Inc. will benefit from a growth in alternative energies. As will hydrogen-cell provider Plug Power. There are also many tax credits incentivising homeowners to convert to more energy efficient air conditioners, windows, and electric appliances. 

Nuclear power providers such as Southern Co., Constellation Energy Corp., and Public Service Enterprise Group Inc. also received a tax credit of $30 billion. 

Companies like Exxon Mobil and Occidental Petroleum Corp. will receive benefits from tax credits for carbon capture in the bill. More federal oil and gas lease sales could also be mandated in the bill. 

Home / News / What the New Climate Bill Means for Business
Share
FacebookTweetEmailLinkedIn

Related Stories

Betting On A Super Bowl Jackpot 

by Tyler Hummel Leaders Staff
Entertainment

About an hour ago

This Sunday will mark a very successful day for sports betting companies as the Super Bowl attracts record revenues for U.S. sports gambling. 

Key Details

  • On Sunday, February 12, the NFL will host Super Bowl XLVII—between the Kansas City Chiefs and Philadelphia Eagles. 
  • Last year’s Super Bowl received more than 208 million viewers—with 70,000 fans attending SoFi Stadium in California. 
  • With such high viewership, sports gambling is expected to hit record highs this year, with as many as 50 million Americans betting $16 billion this Sunday. The American Gaming Association notes this is a 66% increase from last year. 
  • 36 U.S. states and DC permit legalized sports gambling, and the industry earned $7.5 billion in revenue last year, The Wall Street Journal reports. 

Go deeper

FacebookTweetEmailLinkedIn

Becoming the Employee Of Tomorrow

by Hannah Bryan Leaders Staff
Books

2 hours ago

Tomorrowmind

New technology and automation are changing how we work, but the forward-thinking employee can avoid having new technology leaving them behind by keeping this mindset.

Key Details

  • Tomorrowmind is a guide for the worker looking to “future-proof” his career in a time when automation, downsizing, and globalization threaten nearly every career path. 
  • World-renowned psychologist Martin Seligman and BetterUp CPO Gabriella Kellerman offer readers advice from their perspective as workplace mental health experts. 
  • Toxicity in the workplace, industry volatility, and constant turnover have threatened the peace of mind of many employees. Tomorrowmind gives workers the tools they need to thrive in a changing workplace. 

Go deeper

FacebookTweetEmailLinkedIn

BP Backs Away From Renewables

by Savannah Young Leaders Staff
Business

9 hours ago

“At the end of the day, we’re responding to what society wants,” says BP CEO Bernard Looney as the company shifts away from renewable energy to focus on gas and oil.

BP is slowing down on the switch to renewable energy as oil continues to be the main profit driver.

Key Details

  • BP said it's slowing down on renewable energy and focusing most of its spending on oil and gas production.
  • The company reported a record profit of $28 billion for 2022 as it capitalized on soaring energy costs leaning away from renewable energy.
  • “At the end of the day, we’re responding to what society wants,” says BP CEO Bernard Looney.

Go deeper

FacebookTweetEmailLinkedIn
Google
Tech

9 hours ago

Google Announces ChatGPT Rival 

by Tyler Hummel Leaders Staff
amazon prime
Entertainment

11 hours ago

Amazon Reaps Gains Of Media Investments

by Hannah Bryan Leaders Staff
Innovation

12 hours ago

The A.I. Battle Of the Giants

by Hannah Bryan Leaders Staff

Recent Articles

Wealth

13 hours ago

How to Pay Sole Proprietorship Taxes and Avoid IRS Penalties

Sole proprietorship taxes include income taxes and self-employment taxes.

Entrepreneurs

Feb 6, 2023

Here’s a Step by Step Guide on How to Start a Podcast

Eliminate confusion, create a podcast in 15 detailed steps

Wealth

Feb 3, 2023

The Most Landlord-Friendly States in 2023

Invest in landlord-friendly states to make more profits

  • Business
  • Leadership
  • Wealth
Join the Leaders Community

Get exclusive tools and resources you need to grow as a leader and scale a purpose-driven business.

Subscribing indicates your consent to our Terms & Conditions and Privacy Policy

Leaders.com
  • Privacy Policy
  • About
  • Careers
  • Cookie Policy
  • Terms
  • Disclosures
  • Editorial Policy
  • Member Login

© 2023 Leaders.com - All rights reserved.

Search Leaders.com