Incentives

Energy Department, Treasury Announce Availability of $150 Million in Manufacturing Tax Credits, Including Fuel Cell Technologies

By April 8, 2013 No Comments

The DOE and the Department of Treasury recently announced the availability of $150 million in Advanced Energy Manufacturing Tax Credits for clean energy and energy efficiency manufacturing projects across the United States.

“The Advanced Energy Manufacturing Tax Credit is focused on strengthening America’s global competitiveness in clean energy manufacturing, increasing our energy security, and creating new jobs and opportunities for American workers. This important tax program was established by the American Recovery and Reinvestment Act to support investment in domestic clean energy and energy efficiency manufacturing facilities through a competitively-awarded 30% investment tax credit. The initial round provided $2.3 billion in credits to 183 projects across the country. The $150 million in tax credits are being made available today because they were not used by the previous awardees. Over the past four years, the United States has more than doubled clean, renewable energy generation from wind, solar, and geothermal sources, and has strengthened its position as a global leader in the clean energy race. At the same time, the American manufacturing sector has begun to rebound, with 500,000 manufacturing jobs added since the beginning of 2010. These tax credits will help continue this growth, while enhancing the country’s energy security and boosting local economic development”

A full list of eligible projects can be found in the 48C Manufacturing Tax Credit fact sheet. The full solicitation is available on the IRS website.