New federal incentives can help communities repurpose brownfields into brightfields, high-value sites that support equitable, clean energy
. Brightfields, like any clean energy project, will be able to take advantage of these broadly applicable clean energy tax credits.
20% tax credit bonus for projects that financially benefit low-income or Tribal communities, most likely through a. Projects are defined as “benefitting” these groups if at least 50% of the financial benefits of the project go to households with incomes less than 200% poverty line or incomes less than 80% of an area’s gross median income.
The new Energy Communities and Low-Income Communities tax credit incentives can fundamentally alter the equation for projects depending on where they are sited and who they benefit. In fact, for projects meeting all these criteria, it’s possible to achieve a 70% investment tax credit. At this level, more costly, complex projects that had previously struggled to pencil out financially may now get a green light.
The US energy system has always required land — from coal mines to oil rigs to natural gas pads. Unquestionably, the energy transition will need open areas to host solar panels, wind farms, and other clean energy facilities. The good news is that brownfields of all types — including closed landfills, old industrial areas, and even— can be part of the solution if developed safely, strategically, and in accordance with environmental regulations.
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