google-site-verification=cXrcMGa94PjI5BEhkIFIyc9eZiIwZzNJc4mTXSXtGRM America’s green manufacturing boom, from electric vehicle batteries to solar panel production, isn’t yet fueled by renewable energy - 360WISE MEDIA
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America’s green manufacturing boom, from electric vehicle batteries to solar panel production, isn’t yet fueled by renewable energy

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Panasonic’s recent $4 billion battery plant in De Soto, Kansas, is designed as a model of sustainability – it all-electric factory without the necessity to use a chimney. When accomplished, it would be the scale of 48 football pitches, employ 4,000 people and produce enough advanced batteries to power half one million electric cars a yr.

But there may be a catch, and it’s a giant one.

Although the factory will probably be powered by wind and solar energy more often than not, renewable energy sources provided only 34% electricity from the local company Everrgy in 2023.

In a lot of the United States, fossil fuels still play a key role in meeting energy demand. In fact, Everrgy asked for permission extend the lifetime of an old coal-fired power plant to meet the growing demand, including: from the battery factory.

I used to be there with my students at Wellesley College tracking the expansion of investments in clean energy production and the way these projects – including battery, solar panel and wind turbine production and their supply chains – map on the national energy grid.

The Kansas battery plant highlights the challenges ahead because the United States increases production of fresh energy technologies and transitions away from fossil fuels. It also illustrates the industry’s potential to speed up the transition to renewable energy across the country.

Boom within the production of fresh technologies

Let’s start with the excellent news.

In the battery sector alone, firms have announced plans to construct 44 large factories that may give you the option to produce enough battery cells to power greater than 10 million electric vehicles per yr in 2030.

This is the dimensions of commitment needed if the United States goes to address climate change and meet recent auto emissions standards announced in March 2024.

The challenge: These battery factories and the electric vehicles they equip would require quite a lot of electricity.

Producing enough battery cells According to one researcher, to store 1 kilowatt-hour (kWh) of electricity – enough to drive 2 to 6 miles in an electric automobile – requires about 30 kWh of production energy. recent research.

Combining these estimates and our trackingWe project that in 2030, U.S. battery production would require roughly 30 billion kWh of electricity per yr, assuming the factories are powered by electricity, just like the one in Kansas. This equates to roughly 2% of all U.S. industrial electricity consumption in 2022.

Huge solar potential of the battery belt

Numerous these plants are planned for a region of the southern United States called “battery beltThe potential of solar energy is high in much of the region, but the facility grid does there’s little use in it.

Our tracking has been found that three-quarters of battery production capability is situated within the states lower than average production of electricity from renewable sources Today. Almost all of those places will see more demand marginal emissionsbecause this extra power almost at all times comes from fossil fuels.

But we also track which battery firms are committing to powering their manufacturing operations with renewable energy, and the information points to a cleaner future.

By our calculations, half of the batteries will probably be produced in factories which have committed to sourcing at the least 50% of their electricity needs from renewable sources by 2030. Moreover, these commitments are concentrated in US regions where investment is lagging.

Some firms are already taking motion. Tesla is constructing the world’s largest solar panel on the roof of his factory in Texas. LG has committed to supply 100% renewable solar and hydro energy for a brand new cathode plant in Tennessee. Panasonic is taking steps to achieve this net zero emissions for all its factories, including the brand new one in Kansas, by 2030.

Greater corporate commitments could help boost demand for wind and solar power within the emerging battery belt.

What does this mean for electricity demand within the US?

Producing all these batteries and charging all these electric vehicles will put way more demand on the facility grid. But this is just not an argument against electric vehicles. Anything that may be connected to the grid, whether it’s an electric vehicle or a factory producing batteries, is getting cleaner as more renewable energy sources grow to be available.

This transition is already happening. Although natural gas dominates electricity generation, in 2023 Renewable energy sources provided more electricity than coal for the primary time in US history. The government forecasts that in 2024, 96% of latest electricity generation capability added to the grid, including batteries, will probably be fossil fuel-free. These trends are gaining momentum, thanks incentives for the use of fresh energy included within the Act on Reducing Inflation by 2022.

Looking to the longer term

The most vital lesson is that the challenge in Kansas is just not the battery plant – however the increasingly outdated electric grid.

As we speed up investment in a clean energy future, America can have to do exactly that redesign much of its energy grid use increasingly more renewable energy sources and at the identical time electrify every little thing, from cars to factories to homes.

This implies that investing within the modernization, expansion and decarbonization of the electricity grid is as necessary as constructing recent factories or switching to electric cars.

Investments in clean energy production will play a key role in enabling this transition: among the recent advanced batteries will probably be used on the grid, ensuring backup energy storage at times when renewable energy production is declining or electricity demand is especially high.

In January, Hawaii replaced its own the last coal power plant with a complicated battery system. It won’t be long before this starts happening in Tennessee, Texas and Kansas, too.

This article was originally published on : theconversation.com
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Business and Finance

Delay in filing your tax return? Do this if you’re still not ready

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Lying to the tax office or lying about your taxes is a criminal offense punishable by up to a few years in prison. Individuals face fines of as much as $250,000 and corporations as much as $500,000. In addition, chances are you’ll be responsible for costs related to the prosecution. Uncle Sam says don’t try this. Trust us, he’ll get you. It all is dependent upon the formalities and only every week before the tax return submission deadline. However, if you’re still in search of bills, have not made an appointment with your tax advisor, or discovered a serious tax problem that needs resolution, what do you do?

File for extension.

If you actually think there isn’t any way you possibly can file your tax return before the April 15 deadline, you possibly can submit IRS Form 4858, Automatic Extension of Time to File. This half-page form asks for your name, address and Social Security number. It’s so easy. This gives you one other six months to file your tax return.

One caveat: if you owe taxes, you still should pay the quantity you owe or an approximate amount. Do not complete the quantity here. The IRS warns that if it finds your estimate unreasonable, it might invalidate your application, exposing you to penalties for failing to file.

While tax law doesn’t strictly require you to pay your tax, to get more time to file you must or will owe more in the long term. The IRS will add interest to any tax bill unpaid in April and a late payment penalty.

More information may be found at www.irs.gov.


This article was originally published on : www.blackenterprise.com
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Understanding the pros and cons of refunds and bills

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taxes, Black people


It’s tax season at my busy business in Kansas City, Missouri and across the country. For me and my team, this often means long days and longer nights. The looming query every customer desires to know is: “Will I get my a refund or will I owe Uncle Sam?

Many people consider that the goal is to get a refund. However, in the event you check with any respected financial planning expert, they may let you know that borrowing money for a yr without earning interest is a nasty investment strategy.

This is actually what taxpayers do after they receive a refund. This is shocking to some, but true nonetheless, and here’s why. You can get an instantaneous pay raise by changing your withholdings to get more of your personal money throughout the yr. Save your personal money and earn your personal interest, or repay some of your debt and accrue interest that is still money in the bank.

Typically, the next query is, “How much is my refund? The greater the return, the greater the salary increase may be. Stop! Can we conclude that it is healthier to owe the tax office than to receive a refund? Well, it is determined by your ability to pay at the end. If you owe, you might be expected to pay on or before April 15. Failure to satisfy this condition on time may lead to penalties and interest.

So what’s more useful for you? It is predicated on financial discipline and purpose. If you might be financially sustainable, your goal ought to be to interrupt even or have a small balance left to repay. If you lack financial discipline, a refund may fit to your advantage.

Consider these three quick guides to enable you with this process:

  1. Determine whether you wish your a refund or in case your goal is to interrupt even.
  2. Talk to your tax advisor to find out the mandatory steps to enable you achieve your required profits. These could include things like W-4 adjustments, a brand new business structure, or an income and expense schedule.
  3. If you are eligible for a refund, determine the best plan to make use of it properly. If you are going to break even and get more in a yr, be certain that you employ “your surplus to the advantage of your financial situation.”

Whatever you select, be committed to your plan, follow it and understand that it’s your money. Remember that a refund doesn’t all the time mean a free pot of gold at the end of the rainbow, so be certain that you are not colorblind this tax season and make smart financial decisions. The advice a superb uncle will all the time let you know!


This article was originally published on : www.blackenterprise.com
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Business and Finance

6 strategies for making money on any market

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So how do you reply to a market milestone?

No one can predict the behavior of the stock exchange. However, there are some immutable facts. Markets will proceed to be driven by uncertainty and volatility. With that said, investors who don’t take part in solid, long-term stock investing are missing out on the chance to construct wealth. If you check historical data, you will find that the typical annual return of the S&P 500 since its inception in 1928 is about 10%.

On BLACK ENTERPRISES, We have at all times advocated long-term investing. Here are some practical investment suggestions no matter market activity. Based on our interviews with countless investing experts over time, we share these basic yet effective strategies for investing in any market:

1. Don’t time the market

In other words, you mustn’t get too excited during huge market increases or panic during market declines.

Our rule of thumb: engage in disciplined, long-term investing. It’s true that the past can never fully predict future outcomes, but it surely serves as a precious reference. Get skilled advice on constructing a long-term portfolio based on your risk tolerance level and financial goals.

2. Engage in dollar-cost averaging

By investing equal dollar amounts at regular intervals, it lets you buy more shares of high-quality firms when the stock price declines, which is a possible event in today’s fickle market. In fact, most mutual funds may be arrange as automatic investment accounts.

We can also’t emphasize enough the worth of contributing to employer-sponsored 401(k) and 401(b) plans. It’s a scientific strategy to construct your retirement savings. As lots of , funds are deducted out of your paycheck and you may spend money on various investment offers for tax-free dollars. An added bonus is that in lots of cases your employer will match a portion of your premium – currently the utmost is $18,000 per yr. Because these tax-deferred vehicles are intended for retirement, you face severe penalties and tax liabilities if you happen to withdraw your funds early.

3. Look for dividend stocks

In an increasingly unpredictable environment, it is best to consider buying shares of firms that distribute money to shareholders every quarter. These stocks are typically high-quality blue chips that may provide more money flow with a yield of two% to three%. Moreover, an everyday dividend can provide downside protection.

4. Invest in what

It’s a tried and true means of spotting opportunities by attacking well-known firms, industries and products. They are frequently market leaders with powerful brands, top-shelf management, and most significantly, you already know their products and business models.

5. Protect your portfolio by being defensive

As the economy continues to indicate an especially slow recovery, look for stocks which might be performing well in any market. Pharmaceuticals, personal care, household products, food and consumer staples – products purchased by consumers in weak or strong economies – will strengthen your farms.

6. Develop an asset allocation strategy

Diversifying your investments between two or more asset classes can allow you to stay ahead within the market in the long term. One way if you happen to don’t need to administer your personal asset allocation is to take a position in so-called target-date funds. For example, if you happen to’re about 20 years away from retirement, you would possibly select a fund with a goal payout date of 2035. These funds can provide investors with the suitable asset allocation over a given time horizon and mechanically shift to a more conservative mix because the goal date approaches.

Additionally, often monitor your stock portfolio and make adjustments to individual sectors. For example, gain overseas exposure; An excellent rule of thumb is to allocate 20% to 30% of your holdings in international stocks.

(*6*)


This article was originally published on : www.blackenterprise.com
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