EU Prepares to Offer Clean Tech Tax Breaks to Compete With U.S. Green Subsidy Push
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EU Prepares to Offer Clean Tech Tax Breaks to Compete With U.S. Green Subsidy Push
The Inflation Reduction Act, signed into law in August 2022, provided tax credits and other support for clean-energy projects. Concerned that these subsidies will draw investment away from Europe, the European Union (EU) wants to provide tax breaks and other aid to clean-tech companies. The EU's proposed response said that state-aid rules could be loosened to make it easier for governments to back new investment in clean-tech production facilities, including through tax breaks.
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