Data centre owners urge U.S. Treasury to keep renewable energy subsidy rules
Tougher rules on how projects can qualify for federal clean energy tax credits could slow development of new electricity generation at a time of surging power demand driven by artificial intelligence and the digital economy.
"Any regulatory friction that slows down deployment of new generation today directly impacts our ability to meet AI-era electricity demands tomorrow," the coalition wrote in its letter to Bessent. The letter is dated August 4 but was seen by Reuters on Friday.
U.S. President Donald Trump issued an executive order in July directing Treasury to tighten clean energy tax credit rules, including redefining what it means for a project to have started construction.
The industry has relied on the existing rules for the last decade, and advisory firm Clean Energy Associates projected this week that the United States could lose about 60 gigawatts of planned solar capacity through 2030 if stricter "beginning of construction" rules are implemented.
Between 2017 and 2023, the U.S. data center industry contributed $3.5 trillion to the nation's gross domestic product and directly employed over 600,000 workers, according to the DCC.
The Treasury Department is expected to issue updated guidelines as soon as August 18.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
6 minutes ago
- Economic Times
US stock market: US Stock Market on Monday, August 18: What to expect for S&P 500, Nasdaq, Dow Jones?
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads FAQs As US Stock Market eyes the trading week ahead with cautious optimism, Monday, August 18, looms as a pivotal day for capturing investor sentiment. Last Friday's pullback—marked by modest declines in the S&P 500 (‑0.29%) and Nasdaq (‑0.40%), offset by a slight gain in the Dow—reflects a market digesting soft consumer sentiment and semiconductor sector weakness. A contraction in chip stocks, led by a sharp drop in Applied Materials, and a decrease in the University of Michigan's consumer sentiment index to 58.6 signal wary consumer confidence amid inflation S&P 500—currently near its all-time highs, with a recent closing benchmark at approximately 6,450—stands at a crossroads. Strategists remain divided: while UBS and Deutsche Bank expect easing inflation and anticipated Fed rate cuts starting in September to reignite upside momentum, contrarian voices like Stifel's Barry Bannister warn of a possible 14 per cent pullback in the index before the end of 2025, potentially driving the S&P down to around 5,500. For August 18, markets will likely pivot on whether the recent retreat proves temporary or signals broader slowdown Jones, buoyed by strength in heavyweight names like UnitedHealth (which added notable points to the index last week), posted gains even as broader indices slipped. Meanwhile, the Nasdaq remains under scrutiny: AI-led enthusiasm continues to bolster mega-cap tech players, but investors are increasingly wary of stretched valuations. Morgan Stanley projects an 8 per cent rise in the S&P over the next year—assuming forward-looking factors like better earnings revisions and a weaker dollar optimism around AI-driven earnings persists, numerous clouds are gathering. Core inflation remains sticky, job creation has faltered, and geopolitical policy risk—particularly around tariffs and central bank independence—looms large. Analysts are suggesting defensive positioning: Bank of America flags small- and mid-cap stocks as pockets of value amid overvaluation in large caps, while strategic voices recommend diversifying with dividend payers, Treasuries, and quality value names to hedge near-term eyes are on Monday's open to determine if recent volatility is a bump in the road or the start of a meaningful correction. If inflation data and Fed commentary reinforce expectations for September rate cuts, the S&P 500 could push back toward new highs, potentially testing 6,500. Conversely, persistent softness could bolster bearish scenarios pointing to deeper pullbacks. For the Dow and Nasdaq, strength in defensive sectors or renewed tech buying could drive outperformance—especially if volatility abates. Overall, August 18 may serve as the litmus test for whether AI optimism or macro caution will dominate the next chapter in this enduring market narrative.A1. Top three indexes of US stock Market are S&P 500, Dow Jones, Nasdaq.A2. Two top stock markets are New York Stock Exchange, and Nasdaq.
Time of India
21 minutes ago
- Time of India
Man scours Net for AI-based trading platform, loses 2.3 cr
Hyderabad: A 52-year-old businessman, who was looking for an artificial intelligence-based trading platform, was duped by a cyber fraudster of 2.30 crore. The incident took place under the Rachakonda police commissionerate limits. Police said that the victim first did a Google search for an AI-based trading platform. Subsequently, he was included in an unsolicited WhatsApp group 'Shoonya' allegedly administered by Sarvjeet Singh and his associate, Swetha. "The group provided stock recommendations, trading ideas, investment opportunities, and claimed to offer stock investment training. Unaware of any fraudulent intent, I trusted the group. After getting information about the AI-based platform, I downloaded an application shared via the link," the complaint told police. He first began investing a small amount, and by seeing the statement shown by the accused about the profits made by the investment, the victim invested more money in about 20 online transactions. When he finally wanted to withdraw the money, the accused started demanding money, citing various reasons, to allow him to withdraw money. You Can Also Check: Hyderabad AQI | Weather in Hyderabad | Bank Holidays in Hyderabad | Public Holidays in Hyderabad | Gold Rates Today in Hyderabad | Silver Rates Today in Hyderabad Realising that he lost 2.30 crore, the victim approached the cyber crime police. Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area.
Time of India
33 minutes ago
- Time of India
Authority isn't about job titles, it's about how you speak," says Melody Wilding, workplace psychology expert: Here's what professionals must learn
A New York-based workplace psychology expert, Melody Wilding, who has spent over 15 years advising leaders at Google, Amazon, and other Fortune 500 firms, recently shared insights on how professionals can sharpen their communication and command attention. Tired of too many ads? go ad free now Speaking to CNBC Make It, Wilding said, "Many professionals I work with are the reliable workhorses of their organisations. They go above and beyond in their roles, yet are often overlooked for promotions and leadership opportunities." This insight carries a powerful lesson for students preparing to step into the professional world: Authority isn't about job titles, it's about how you speak. Success is not guaranteed by credentials alone; it is shaped by the ability to communicate confidently, clearly, and persuasively. Wilding identifies three phrases that professionals, and students, can adopt to project authority and influence: "Our options are A, B, and C. My recommendation is…" Instead of getting lost in background details, structuring communication and offering a clear recommendation signals decisiveness. For instance, "We have three options: Extend the deadline, add resources, or reduce scope. I suggest we add two contractors for six weeks to launch on time and minimise costs" demonstrates leadership potential even before formal authority is granted. "What we need next is…" Vague closings such as 'Let me know your thoughts' weaken impact. By specifying the next step—'What we need next is your sign-off on the contract so we can start implementation on Monday'—students learn to be actionable and direct, skills that enhance credibility and effectiveness in team settings. "Here's what I'm seeing…" Tentative statements like 'I could be off base…' can undermine confidence. Focusing on evidence-based observations—'We're seeing improvement across three sectors' or 'There's a consistent trend in the data since Q2'—builds trust and conveys expertise, a skill students can adopt in presentations, research, and group projects. Tired of too many ads? go ad free now Lesson for students: Authority is cultivated through communication, not titles. By mastering structured, decisive, and confident expression, students can earn respect and influence outcomes early in their academic and professional journeys. Speaking with authority signals leadership potential long before formal positions are assigned. In essence, Melody Wilding's guidance teaches students that confidence, clarity, and evidence-driven communication are the true markers of authority, offering a roadmap to visibility, influence, and professional success.
