$150M in manufacturing tax credits up for grabs
The U.S. Departments of Energy and the Treasury have made available $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 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 percent 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 available because they were not used by previous awardees.
The remaining tax credits will be allocated by a competitive process based on the following: commercial viability, domestic job creation, technological innovation, speed to project completion, and potential for reducing air pollution and greenhouse gas emissions, as well as diversity of geography, technology, project size, and regional economic development.
"Since 2009, the Advanced Energy Manufacturing Tax Credit program has supported innovative American manufacturers that boost our nation's competitiveness in the global race for clean energy," said Energy Secretary Steven Chu in a statement. "These new investments will continue that momentum, supporting the President's commitment to American-made energy, increasing energy security, and creating jobs."
- see the list of eligible projects