WASHINGTON – As part of
President’s Obama’s all-of-the-above approach to American energy, the U.S.
Departments of Energy and the Treasury today 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.
“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. “These new
investments will continue that momentum, supporting the President's commitment
to American-made energy, increasing energy security, and creating jobs.”
“As
the economy continues to heal, the President has been clear that we have to do
everything we can to boost growth and job creation today and build a more
sustainable foundation for tomorrow,” said Acting Secretary of the Treasury
Neal S. Wolin. “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.”
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 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.
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 attached
fact sheet.
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. The full solicitation is available on the IRS website HERE.
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