Yellen Touts Biden’s Clean Energy Investment Tax Breaks in Kentucky Visit
Clean Energy Investments Surge in Former Coal-Reliant Regions
According to WHTC, U.S. Treasury Secretary Janet Yellen talked about how tax breaks from the Biden government are helping clean energy in places that used to rely on coal. She visited Kentucky a state where Democrats aren’t usually popular to share some good news. Yellen said that clean energy investments have doubled to $4.5 billion each month in places that depended on coal. And in other areas, it went up by $1 billion all thanks to new incentives from the 2022 Inflation Reduction Act. This clean energy investment shows a bigger move towards using energy that’s good for the environment with companies announcing $650 billion in clean energy investments since Biden became president.
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Yellen Promotes Clean Energy Investment in Kentucky’s Evolving Economy
Yellen visited Advanced Nano Products in Elizabethtown to highlight growing EV battery production. The company’s $49 million investment will supply carbon nanomaterials to Ford Motor Co and SK Group’s battery plants aided by clean energy tax breaks. In coal-reliant Kentucky, the shift towards cleaner energy signals economic revitalization with Yellen emphasizing job creation in EVs, renewable energy, and technology sectors, positioning the state for a greener future.