Dept. of Energy and the Treasury announce availability of $150 million in Advanced Energy Manufacturing Tax Credits

[Paula Del Giudice]

As part of President's Obama's all-of-the-above approach to American energy, the U.S. Departments of Energy and the Treasury have announced the availability of $150 million in Advanced Energy Manufacturing Tax Credits for clean energy and energy efficiency manufacturing projects across the United States. This important tax program 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.

The Advanced Energy Manufacturing Tax Credit 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.

The program supports manufacturing of a range of clean energy products, from renewable energy equipment to energy efficiency products to advanced energy storage and carbon capture technology. A full list of eligible projects is included in the 48C Manufacturing Tax Credit fact sheet.

For more information, visit: http://apps1.eere.energy.gov/news/progress_alerts.cfm/pa_id=837