CETY Secures Continued Access to Tax Incentives for Clean Tech
Continued Eligibility for Federal Clean Energy Incentives
Clean Energy Technologies, Inc. (Nasdaq: CETY), a pioneering company in the clean energy sector, is excited to share that its innovative technologies will continue to qualify for federal clean energy tax incentives. This news comes after the recent legislation known as the One Big Beautiful Bill Act (OBBBA) has been enacted, reinforcing the Company’s positioning in the renewable energy landscape.
Implications of the New Legislation
The OBBBA, which aligns with the goals of sustainability, significantly impacts various clean energy projects, including CETY's waste heat-to-power systems, biomass combined heat and power (CHP) solutions, and advanced battery storage technologies. These projects will benefit from the Investment Tax Credits (ITC) and Production Tax Credits (PTC) established previously by the Inflation Reduction Act, allowing up to a 30% ITC or 1.5 cents per kilowatt-hour PTC, contingent upon meeting certain updated criteria.
Maintaining Competitive Advantage
According to Kam Mahdi, CEO of CETY, "This legislation reinforces our competitive edge. Unlike other sectors such as solar or wind, which now face stricter regulations, our technologies are fully supported. This distinction places CETY in a prime position for investors keen on sustainable alternatives that promise stability and profitability."
Conditions for Eligibility
To maintain eligibility for the benefits under the OBBBA, specific conditions must be met:
- Projects must have commenced construction by December 31, 2024.
- Meet updated requirements on zero or net-negative lifecycle greenhouse gas emissions.
- Compliance with wage norms and apprenticeship standards is essential.
- Utilization of domestically sourced components to ensure adherence to content regulations.
- No involvement from foreign entities considered a risk to national security.
Future Opportunities and Industry Impact
The revised tax credits are set to gradually decrease starting in 2033, ultimately concluding by 2035. This timeline presents a well-defined window for investors and developers to leverage these incentives strategically. As industries adapt to the evolving energy market, CETY's solutions play a crucial role in aiding commercial and industrial facilities to not only reduce their carbon footprints but also lower operational expenses.
Strategic Projects and Innovations
CETY has developed various technologies that are pivotal for sustainable energy production. Whether it involves converting biomass from agricultural waste into energy, recovering waste heat from industrial processes, or utilizing geothermal sources for clean electricity, the Company is committed to delivering technologies that surpass governmental requirements.
Kam Mahdi further mentioned, "With the continued commitment to innovative approaches in energy conversion and optimization of resources, CETY aims to support a wide range of applications, from data centers to energy-intensive operations such as cryptocurrency mining.”
About Clean Energy Technologies, Inc. (CETY)
Founded and headquartered in Irvine, California, Clean Energy Technologies, Inc. is emerging as a leader in the zero-emission movement by providing affordable, green energy solutions tailored for small to mid-sized projects across North America, Europe, and Asia. Through its patented Clean Cycle™ generator, CETY delivers electricity from heat recovery and transforms waste into valuable energy outputs.
In addition to clean energy products, CETY offers engineering, consulting, and project management services to assist municipal and industrial clients in implementing efficient energy solutions.
Contact Us for Inquiries
If you have questions about our offerings or are interested in exploring partnership opportunities, please reach out to us:
Phone: 949-273-4990
Email: ir@cetyinc.com
Frequently Asked Questions
What are the key technologies offered by CETY?
CETY specializes in waste-to-energy systems, waste heat recovery, battery storage, and biomass combined heat and power technologies.
How does the OBBBA impact CETY?
The OBBBA ensures CETY's technologies remain eligible for federal clean energy tax incentives, enhancing the Company's competitive position.
What are the new requirements for tax incentives?
Projects must demonstrate zero or net-negative greenhouse gas emissions and comply with wage and sourcing regulations.
When do the updated tax credits phase down?
The updated tax credits will start to phase down in 2033 and will cease to exist by the end of 2035.
How can I get in touch with Clean Energy Technologies, Inc.?
You can contact CETY by phone at 949-273-4990 or through email at ir@cetyinc.com.
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