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$150M in Advanced Energy Manufacturing Tax Credits Available

By February 14, 2013 No Comments

On February 7, 2013, the IRS announced the availability of $150 million in Advanced Energy Manufacturing Tax Credits that were not fully used by past awardees.

Fact sheet about the program

IRS Solicitation

US Department of Energy News Release

 

Goal of the program: “This tax credit program will help build a robust U.S. manufacturing capacity to supply clean energy projects with American-made parts and equipment. These manufacturing facilities will also support significant growth in U.S. exports of manufactured clean energy products.”

Eligibility: “The $150 million in tax credits will be allocated on a competitive basis. Projects will be assessed by the Department of Energy (DOE) based on the following criteria: commercial viability, domestic job creation, technological innovation, speed to project completion, and potential for reducing air pollution and greenhouse gas emissions. DOE will also consider additional factors including diversity of geography, technology, and project size, and regional economic development.”

Qualifying manufacturing facilities include:

  • Solar, wind, geothermal, or other renewable energy equipment
  • Electric grids and storage for renewables
  • Fuel cells and microturbines
  • Energy storage systems for electric or hybrid vehicles
  • Carbon dioxide capture and sequestration equipment
  • Equipment for refining or blending renewable fuels
  • Equipment for energy conservation, including lighting and smart grid technologies
  • Other advanced energy property designed to reduce greenhouse gas emissions may also be eligible as determined by the Secretary of the Treasury