What is the story about?
What's Happening?
LRQA has published a guide to help UK businesses navigate the One Big Beautiful Billing Act (OBBBA) recently passed in the United States. This legislation reshapes clean energy incentives and impacts sectors such as hydrogen, carbon capture, and advanced manufacturing. The guide, developed in collaboration with EcoEngineers, details changes to tax credits like 45Z, 45V, and 45Q, which are crucial for project planning and compliance. The OBBBA builds on the Inflation Reduction Act, introducing stricter timelines and feedstock restrictions, affecting UK businesses with international operations or investments in clean energy.
Why It's Important?
The OBBBA represents a significant shift in global sustainability policy, with implications for UK businesses engaged in clean energy sectors. Understanding these changes is vital for aligning with international standards and mitigating regulatory risks. The guide offers strategic insights for UK sustainability leaders to strengthen cross-border initiatives and adapt to evolving compliance requirements. This development highlights the interconnected nature of global energy policies and the need for businesses to stay informed and agile.
What's Next?
UK businesses are expected to review their clean energy strategies in light of the OBBBA. This may involve reassessing investment plans and compliance measures to align with the new U.S. regulations. Companies might also explore opportunities to collaborate with international partners to leverage the revised incentives. The guide serves as a resource for businesses to anticipate regulatory changes and position themselves for future growth in the clean energy landscape.
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