U.S. Offers $150 Million in Tax Credits for Clean Energy Manufacturers
Feb 28, 2013
| Print this page
The U.S. Departments of Energy and the treasury 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 program is focused on strengthening America's global competitiveness in clean energy manufacturing, increasing U.S. energy security, and creating new jobs and opportunities for American workers.
"Manufacturing the clean energy products of the future in America will create good, middle-class jobs right now and help lay the groundwork for the long-term resilience of our economy," said Acting Secretary of the Treasury Neal S. Wolin.
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 now because they were not used by the previous awardees.
These remaining tax credits will be allocated on a competitive basis. Projects will be assessed by the Department of Energy 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. The Department of Energy will also consider additional factors including diversity of geography, technology, project size, and regional economic development.
Back to Breaking News